Baker McKenzie celebrates year of significant growth
Baker McKenzie’s 2017/18 financial report shows a banner year for the firm, confirming its spot as the third highest billing firm in the world, losing out only to Kirkland & Ellis and Latham & Watkins.
The US juggernaut’s revenue rose 10% from $2.67bn to $2.9bn, as its profit per equity partner (PEP) reached $1.44m. The largest chunk of the firm’s turnover came from EMEA at 39%, while the Americas followed close behind with 35%. Asia Pacific accounted for 26% of turnover.
Global chair Paul Rawlinson highlighted the firm’s capital markets practice, and particularly the practice’s spiked IPO activity, commenting that in order to ensure steady growth, a firm must “be firing on all cylinders.”