The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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 partners braced for 15 per cent profit slide as City firms post flat half-year revenues
The London offices of US law firms are failing to keep pace with the growth of their US colleagues.
The Lawyer can reveal that while many US firms have recorded double-digit global revenue growth, their London practices have been stymied by the market malaise that is also continuing to hamper recovery by UK law firms.
At the six-month mark, nearly all UK firms are showing either flat revenues or a decline in gross, compared with the previous period. It is understood that during the six months to October, Clifford Chance has seen revenues inch to a mere £420m. Sources state that in October last year the firm announced to partners that it expected the top of lockstep for 2003-04 to reach £625,000, signalling a 15 per cent decline on the previous year.
The majority of UK firms recorded a flat six months, although Allen & Overy and Lovells saw gross revenues increase by 1 per cent and 4 per cent respectively.