The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Clifford Chance is ranked eleventh with $390bn (£242bn) worth of deals. Norton Rose, which acted for Mannesmann in the Vodafone bid, did $273bn (£170bn) worth of deals last year.
But City stalwart Slaughter and May, which has consistently resisted the creep of globalisation, does not figure in the tables.
Slaughters corporate partner Patrick Balfour denies that his firm has fallen behind. He says: "Year on year firms go up and down the tables and I don't think that globalisation is just led by your ranking on a league table."
A source at Allen & Overy, which also failed to make the grade, puts the firm's failure to be ranked down to the fact that the US & UK practices included in the table were involved in some of the biggest mergers and acquisitions of last year.
But Freshfields' head of corporate Barry O'Brien believes firms need to have global as well as local capabilites. He says: "There are now a significant number of deals which do not touch the UK or only touch it indirectly."