Chicago, 19 October 2006 – LAWFUEL – Law News Network – Baker & McKenzie announced its global fee income increased 13 percent to US$1.522 billion in its fiscal year 2006 (ended June 30, 2006). The increase follows a 10 percent increase in fiscal year 2005. Of total fees for the fiscal year 2006, 41% was generated from Europe & the Middle East, 35% in North and Latin America and 24% in Asia, with growth experienced in all regions of the world. The Firm’s financial performance was announced upon the conclusion of its annual meeting held in Washington, D.C., last week.
In addition, Baker & McKenzie reported a 24 percent increase in net income and a 16 percent increase in per partner profits (PPP) over the previous fiscal year. In the last two years the Firm’s PPP has increased by one-third.
“Our strong financial performance is the result of continued focus and disciplined execution of our global strategy,” said John Conroy, Chairman of Baker & McKenzie’s Executive Committee. “We are very pleased with these results, particularly as they derive from our strategic focus on strengthening our position in key geographic markets, enhancing our core practices around the world and developing deeper client relationships. We expect our recent performance to continue in the current year as our growth in net income and profitability underpin our strategic growth and enable us to deploy resources where our clients need them.”