LAWFUEL – The Legal Newswire – London law firms dominate global legal markets, according to a survey of legal firms published in the UK yesterday, reported in The Times.
Partners are regularly earning in excess of £1 million a year with profits per partner up by 12 per cent, the data from Legal Business magazine shows.
The survey of the world’s largest law firms reveals that while just nine UK law firms make the world’s top 50, they account for five of the world’s six largest legal practices.
James Baxter, editor of Legal Business said: “2006/7 is most certainly the year of the British firms. UK firms have invested heavily over the past decade building solid global capabilities and it is now paying off. Together with the strength of the pound, it has never been a better time to be a global law firm billing in pounds.”