Latham & Watkins has moved into Number 1 position for top grossing law firms according to a report from the American Lawyer, generating $2.6 billion in revenues.
The revenue increase is 14 percent more than the previous year. AmLaw’s rankings look at financial metrics including revenues and profits per partner and it moves Lathams into the hallowed company of Baker & McKenzie, DLA Piper and Skadden Arps.
Baker & McKenzie announced that it had taken that spot away from DLA Piper last year when it surpassed the $2.5 billion revenue barrier for the first time. Those elite firms each have more than 4,000 lawyers, nearly double Latham’s estimated 2,100 lawyers.
So what has made the big difference for Lathams?
The American Lawyer Editor-In-Chief Kim Kleman said much of Latham’s work was conducted in Germany, London and New York, and that the firm had a particularly strong surge of equity capital markets work.
“They have been looking at elite work,” Kleman said, calling Latham’s 2014 “white hot.”
Some of its work in 2014 included advising lenders on an $11 billion high-yield bond offering for French cable operator Numericable, and representing Allergan on its $66 billion sale to Ireland’s Actavis.
Latham’s started in Los Angeles has since expanded in the United States and globally and has become a firm very much with its eyes upon maintaining its top position.
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