Baker & McKenzie breaks revenue records
Baker & McKenzie has recorded a record-breaking revenue result, with a total turnover of $2.54bn for the 2013/14 financial year.comments powered by Disqus
The revenue figure represents a 5 per cent increase over the previous year’s $2.42bn, and makes the firm the world’s largest law firm by revenue.
Bakers also takes the top spot as the world’s largest firm by headcount, growing from 4,087 to 4,245 lawyers in the past year. Revenue per lawyer last year grew from $592,000 to $598,000 while the firm’s profit margin remained static at 36 per cent.
Bakers added 27 partners in the last year to reach 1,430 partners worldwide, while the number of equity partners dropped from 719 to 705. Average profit per equity partner reached $1.29m, up 7 per cent from last year.
Bakers chairman Eduardo Leite said: “These strong financial results are partly due to the long-term investment we’ve made in our practices and international platform. We’ve now reached a momentum where our footprint helps to grow the success and stability and synergies of new jurisdictions. We don’t need to subsidise our overseas offices, which I know is not always the case with some other firms.”