Linklaters has posted revenues of £410m to take the number one position in London, overtaking Clifford Chance for the first time. Its UK figures represent an 8.3 per cent increase on last year’s results after a year when Linklaters’ corporate practice saw a dramatic recovery. Clifford Chance saw steady growth, with London revenues up four per cent to £402m. However, Allen & Overy (A&O) and Freshfields both saw their London turnover drop. A&O’s City revenues dropped from £363m to £358m. Freshfields had the most disappointing results in London. Revenue fell six per cent from £341m to £320m. The best performer in London by some margin was Slaughter and May, which posted a revenue rise of nearly 20 per cent to £257m, again powered by its M&A business. Transatlantic firms also made a strong showing. Fourteen out of the top 50 London firms by revenue are US-headquartered. Leading the transatlantic pack and 16th largest by London revenues is Baker & McKenzie at £92m, followed by Mayer Brown Rowe & Maw. MBRM, which posted static revenues of £79m this year, is now the18th-largest firm in the City. For more on this story, see The Lawyer UK100 Annual Report, published on 5 September.