This post has been updated with The Lawyer’s 2021 ranking of the top 50 US law firms in London by revenue.
The Lawyer’s new US 50 ranking confirms that the 2020 financial year was yet another record one for US law firms in the UK. Some 23 firms saw a double digit rise in revenue and seven grew their turnover by 20 per cent or more. However, not every firm enjoyed such a barnstorming performance last year.
IIt also shows that growth in the total number of lawyers working in the UK at US-led firms reached new heights, with total lawyer numbers rising by 4.7 per cent, and total number of partners at US firms rising by 4.4 per cent.
Diversity in the top 50 US law firms
The promotion and recruitment of senior female lawyers has led to a more balanced ratio of male and female partners at many of the top 50 firms, according to The Lawyer data. At some firms, the gender balance has improved markedly in favour of female partners since 2016. Overall, the proportion of female partners at these firms has risen from 18.2 per cent in 2016 to 22.6 per cent. That said, three firms still have no female partners in London.
Top 50 US law firms in London by revenue
|Rank 2021||Firm name||UK revenue ($m)|
|1||Kirkland & Ellis||534|
|2||Latham & Watkins||520|
|3||White & Case||397|
|12||Debevoise & Plimpton||170.4|
|13||Squire Patton Boggs||170|
|14||Shearman & Sterling||168|
Quinn Emanuel Urquhart & Sullivan
|16||Akin Gump Strauss Hauer & Feld||149.2|
|20||Ropes & Gray||130|
|21||Sullivan & Cromwell||124|
|23||Covington & Burling||113.6|
|30||Willkie Farr & Gallagher||79|
|35||Vinson & Elkins||61.5|
|36||Morrison & Foerster||60.8|
|37||McDermott Will & Emery||55|
|38||King & Spalding||54.3|
|40=||Arnold & Porter||50|
|47||Winston & Strawn||37|
|49||Boies Schiller Flexner||25.2|