Baker & McKenzie announced today that the Firm’s global fee income figure for its fiscal year 2003 (ended June 30, 2003) exceeded US$1.134 billion. This represents an increase of 7% on the previous year’s income of US$1.06 billion. Of the total income figure for FY03, 40% was generated in Europe & Middle East, 36% in North & Latin America and 24% in Asia Pacific.
Commenting on the results, Christine Lagarde, Chairman of the Executive Committee of Baker & McKenzie, said, “Once again, I am pleased to announce further progress in the development of our business despite ongoing challenging economic conditions, compounded this year by the impact of SARS. We have seen steady growth across the Firm, both geographically and on a practice group basis, and have continued to make progress on improving our operating efficiencies. Our prudent approach to managing our financial health means that we offer a strong and secure platform to our clients and are well placed to leverage our current position for further growth.”