Baker & McKenzie posts record breaking fee income
Baker & McKenzie has announced a record-breaking global fee income of US$2.313 billion, up 2.1% from last year’s figures. The growth in revenues was driven by gains in Latin America and Asia Pacific, while revenues remained flat in North America and Europe, the Middle East and Africa.
Profit per equity partner was US$1,090,000.
"Our results reflect our return to investments that were deferred during the recent crisis years as well as the challenging circumstances confronting our clients in an uncertain global economy," said Eduardo C. Leite, chairman of Baker & McKenzie's Executive Committee. "We continue to see clients act on impressive strategic transactions and financings, but with more caution and financial discipline.
"Matching our legal talent and services with the needs and demands of our global clients has never been more important," Leite added. "That's why we continue to build our global platform for the long term in new markets and through strategic lateral hiring, while stepping up our focus on operating efficiencies."