The AmLaw 100: Slow and Steady as She Goes

The Global 100 top law firms showed a slow and steady approach to their growth, according to the American Lawyer release of the world’s biggest law firms.

The top 100 showed a slower growth in 2015 with the highest revenues after the sixth, consecutive year of gains, the survey reported.

The top firms were:

1. Latham & Watkins: $2,650,000,000
2. Baker & McKenzie: $2,620,000,000 (verein)
3. DLA Piper: $2,543,000,000 (verein)
4. Skadden Arps: $2,410,000,000
5. Kirkland & Ellis: $2,305,000,000
6. Dentons: $2,120,000,000 (verein)
7. Clifford Chance: $2,118,500,000
8. Freshfields: $2,028,000,000
9. Allen & Overy: $2,002,500,000
9. Linklaters: $2,002,500,000

Revenues for the firms approached $100 billion – to be exact, $96.6 billion, say American Lawyer

Revenue for The Global 100 increased 3.1 percent in 2015, to $96.6 billion, a record for this group. And average profits per equity partner rose 4.9 percent, to 
nearly $1.6 million. At current growth rates, total Global 100 revenue in next year’s survey will almost reach $100 billion.

Despite these gains, average revenue per lawyer (RPL)—a key measure of a law firm’s health and efficiency—dipped 2.1 percent, to $812,701. It is only the third decline in group RPL this millennium, after the financial crisis caused drops in 2008 and 2009, and the first time that Global 100 RPL has fallen without the United States economy being in recession.

 one of the questions posed by the survey was the cause of the revenue decline.  When Dentons merged with Dacheng to create a 4000-strong legal powerhouse the Global revenues slumped, with over one third of the Global 100 seeing a decline in RPL of over five percent.  More than a third experienced declines in 2015, which is the biggest in years and could indicate a trend in the immediate future.

Source: AmLaw & AbovetheLaw

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