Baker & McKenzie loses #1 rank for revenue
Baker & McKenzie has slipped to second place in the ranking of global law firms by revenue, overtaken by DLA Piper.
Bakers’ revenues hit an all-time high in the 2012-13 financial year, with the firm reporting 4.6 per cent growth to $2.42 billion. DLA Piper, however, managed to pull off 9.1 per cent revenue growth last financial year.
Baker’s global chairman, Eduardo Leite, says that the firm is not expecting a huge jump in revenues in the next fiscal year. He says the firm predicts growth of between 3 and 5 percent, “no more than that. It’s conservative, but those are the signals we’re getting.”