Kirkland & Ellis has once again taken the top spot as the world’s highest-grossing law firm, adding almost $400 million to its top line and with a growth in turnover to $4.15 billion.
Chicago-based Kirland & Ellis revealed its 2019 results with a 10 per cent increase in revenue and with its profit per equity partner (PEP) reaching $5.2 million.
Last month, Latham reported its second consecutive year of double-digit growth as its revenue surged to $3.77bn in 2019 while profit per equity partner (PEP) hit $3.78m.
Although there are no regional breakdowns for the firm but has grown its revenues through fund formation, private equity and restructuring work globally including the $63bn acquisition of Allergan by US biopharmaceutical company AbbVie and the acquisition underpinning the $90bn merger between Bristol-Myers Squibb and Celgene.
The firm had an increase in its head count by 13 per cent with revenues dropping 2 per cent from the previous year with 141 partners.
Kirkland’s Unusual Model
Kirkland’s business model differs from many firms because it makes up its numbers through its internal ranks and before considering those entitled to the equity partnership.
Associates can become salaried partners after six years, which is earlier than many big law firms and last year’s firm promotions saw a total of 531 partners made up in the past five years.
Recently on LawFuel
- Freshfields Joins Slim Ranks of Big Law Firm Female Leaders As Gender Diversity Moves Slowly GrowDan Garner – Female law firm leadership ranks are growing – albeit slowly – but in […]
- GM Launches $2 Billion Strategic Partnership with Electric Vehicle Pioneer NikolaPowered by LawFuel – Paul, Weiss is representing General Motors Co. in a strategic partnership with […]
- Megyn KellyThe LawFuel Lawyer Celebs List Former Fox News anchor Megyn Kelly qualified in law in 1995 […]
- Gal GadotThe LawFuel Lawyer Celebs List Israeli actress Gal Gadot was Miss Israel in 2004 before serving […]
- Racehorse Doping Charges: Defendants On “the supply side of a market of greed that continues to endanger racehorses through the sale of performance-enhancing drugs”.TWO PLEAD GUILTY TO RACEHORSE DOPING CHARGES Audrey Strauss, the Acting United States Attorney for the […]
- Kramon & Graham boosts senior administrative team with new appointmentsPowered by LawFuel – Baltimore, MD (September 16, 2020) — Kramon & Graham, a leading law […]
- Buchalter Expands Its Tax and Estate Planning Practices with the Addition of Two New Shareholders in Los Angeles and San DiegoPowered by LawFuel – Buchalter is pleased to announce the welcome additions of Joseph K. Fletcher […]
- 3 Strategies Lawyers Are Using Successfully to Prosper With Remote Working ConditionsJen Dezso* Remote working has proven to be largely a success — at least from the […]
- Big Law Belt Tightening Hits Both Younger & Older Lawyers as The Pandemic Bites Law FirmsIn the new era of COVID-invoked recession law firms are developing new strategies to cope with […]
- Prestigious UK Law Firm Investigated Over Money Laundering IssuesMischcon de Reya is one of the more prestigious law firms in the UK, gaining prominence […]
- What Makes A Great Managing Partner in a Law Firm?**According to a leading legal journalist who has gossiped and drunk with many Drinking with managing […]
- How Will The Impending Insolvency Crisis Affect the Legal Profession?The impending insolvency crisis in the wake of the COVID-19 pandemic raises key questions for company […]
