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.
The latest US Top 50 Firms in London 2021 report is now available here.
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|
More news and analysis about the top US law firms in London
- US Top 50: Are you a have or a have-not?
- Market at inflection point as US firms outnumber UK elite
- US Top 50: Lawyer headcount at US firms in the UK reaches record levels
- US Top 50: Three firms still have no female partners in London
OUT NOW: The 2021 edition of The US Top 50 Firms in London is out now.
- Highest level of fee income ever recorded by US firms in the UK
- Three firms boost City revenue by more than 30%
- Two of the eight-largest law firms in the City are US