Law Firms
International Reach Spurs Double Digit Revenue Hikes for Top UK Firms
Major London law firms that invested in international offices are now seeing the fruits of that strategy.
The top 50 law firms in the U.K. had double-digit revenue growth in 2007-08 despite the economic downturn, Legal Week reports. The top 50 averaged revenue growth of 12.5 percent and an increase in average profits per equity partner of 7.3 percent.
Average profits for an equity partner working in a top 50 firm are $1.23 million. The story says firms that focused heavily on the domestic market struggled while those with international practices had better performance.
The top U.K. law firms in terms of revenue were Clifford Chance, Linklaters, Freshfields Bruckhaus Deringer, Allen & Overy, and DLA Piper.
