The Big Money and multi-billion dollar revenues of Big Law continue, according to the latest 2019 Am Law rankings.
It’s been Big Law’s best year since the Great Recession, American Lawyer report. Eighty eight firms showed revenue increases with 37 posting revenues of $1 billion or more, which is six more than 2017.
Kirkland & Ellis, (Chicago-founded) comes in first in revenue terms at $3.757 billion for 2018, the largest in the US.
The Big Money followers were Baker + McKenzie, DLA Piper, Skadden, Sidley Austin, Hogan Lovells, Morgan Lewis and Jones Day. Norton Rose was pushed down a place by White & Case.
But in terms of profits per equity partner (PEP) it was Wachtell Lipton Rosen & Katz that topped the list, coming in at a handy $6.5 million. The overall Am Law 100 figure for PEP was up by 6.5 per cent, giving rise to the question of whether the biggest law firms are sacrificing Wachtell-type avalanches of money for the sake of international growth.