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An exhaustive analysis of the UK market including every firm in the top 200 ranked, analysed and benchmarked, UK chambers ranked by turnover, revenue per barrister and which international firms are most active in the UK.
Freshfields Bruckhaus Deringer’s turnover dropped nearly 4 per cent in the 2010-11 financial year, audited figures show.
The firm’s LLP filings show that it brought in 1.116bn in fees during the financial year, just under 4 per cent down on the £1.158bn it turned over in 2009-10.
The latest figure is lower than the £1.14bn unaudited turnover figure announced last July (8 July 2011).
The drop means Freshfields is overtaken by Allen & Overy in the turnover rankings, with the magic circle rival posting a revenue figure of £1.12bn (6 July 2011).
The accounts also show a 7 per cent drop in the amount taken home by the highest-earning partner. The figure, which can include payments made to a retiring partner, dropped from £2.7m in 2009-10 to £2.5m in 2010-11 and is significantly above the top of equity figure of £1.475m.