The American Lawyer released its annual Global 100 report, a ranking of the world’s 100 largest law firms by gross revenue, profits per partner, and total attorney headcount. Overall, gross revenue grew by 4.7 percent to $119.6 billion, and profits per equity partner increased, on average, by 0.4 percent. Attorney headcount also saw an increase this year, with an annual growth of 8.0 percent. Additionally, that same assessment can be applied to the Global Second Hundred, which grew at a 3.6% clip, resulting in total revenue of $33.1 billion, bringing the aggregate figure for the full Global 200 to $152.7 billion. According to the report, much of this growth can be attributed to head count increases, particularly in the Second Hundred, where firms increased their complement of lawyers by 10.2%.

The report revealed that a total of 50 firms cracked the $1 billion mark, up from 46 firms last year. Of the Global 200 firms on the list, United States accounted for 139 of the world’s top-grossing firms, followed by 25 from the United Kingdom, 10 firms from China, and 7 firms from Canada. Seventy-five firms equaled or topped $1 million in PEP, compared with 73 firms last year, the report notes. Additionally, this is the fifth time in the history of Am Law’s global ranking that U.S.-based firms occupied the top four spots. The top five firms in their respective order were Kirkland & Ellis, Latham & Watkins, DLA Piper, Baker & McKenzie and Dentons.

A wider look at the Global 100, ranked by revenue, offers a picture of stability, the report adds. Eight of the firms in 2019’s top 10 remained there this year, as Allen & Overy and Linklaters both slipped slightly. And only one firm, recent trans-Atlantic merger product Womble Bond Dickinson, exited the top 100, replaced by labor and employment specialists Jackson Lewis. The Global Second Hundred does have a handful of newcomers. The highest among them is Spain’s Uría Menéndez, at 167. The other fresh faces are Australia’s Corrs Chambers Westgarth, China’s Jingsh Law Firm and U.S. firms Foley Hoag and Fisher Phillips, (as quoted in The American Lawyer).

See the full rankings and highlights from The Global 100 on The American Lawyer.

Contact Bill Sugarman for more information.

The report revealed that a total of 46 firms cracked the $1 billion mark, up from 34 firms two years ago. Of those 46 billion-dollar firms, United States accounted for 77 of the world’s top-grossing firms, followed by 12 from the United Kingdom, and five from China. Additionally, this is the fourth time in the history of Am Law’s global ranking that U.S.-based firms occupied the top five spots. The top five firms in their respective order were Kirkland & Ellis, Latham & Watkins, Baker & McKenzie, DLA Piper and Skadden Arps.

“Globally, most key practice areas were subject to brisk demand. The merger and acquisitions environment was active, albeit stronger in some markets than others. Disputes work, particularly international litigation and arbitration, kept practitioners busy. And an anticipated dip in investigations did not materialize, with sanctions, the Foreign Corrupt Practices Act and money laundering matters dotting the headlines. Other factors, beyond growing demand, also helped boost the numbers including two significant mergers between U.S.-based firms and two significant trans-Atlantic mergers: Nelson Mullins combination with Broad and Cassel and Hunton & Williams merger with Andrews Kurth Kenyon on the domestic side, and the creation of Womble Bond Dickinson and Bryan Cave internationally,” (as quoted in The American Lawyer).

See the full rankings and highlights from The Global 100 on The American Lawyer.

Contact Bill Sugarman for more information.

The American Lawyer released their annual Global 100 report, a ranking of the world’s 100 largest law firms by gross revenue, profits per partner, and total attorney headcount. Overall, gross revenue for the Global 100 grew by 6.4 percent to $105.7 billion, and profits per equity partner among Global 100 firms increased, on average, by 3.4 percent. Attorney headcount also saw an increase this year, with an annual growth of 10.7 percent.

For the third time in the history of Am Law’s global ranking, U.S.-based firms occupied the top five spots. Kirkland & Ellis advanced two spots this year to claim the No. 1 spot, knocking Latham & Watkins and Baker & McKenzie down to spots 2 and 3, respectively. Kirkland and Latham both cracked $3 billion in total revenue for the first time in 2017. But while Latham posted a commendable 8 percent increase in revenue, Kirkland’s grew at a whopping 18 percent, more than any other American firm. DLA Piper and Skadden Arps remained in their respective spots from last year, coming in at number 4 and number 5.

Another takeaway for all these firms—and those on the outside looking in—is the gap between total revenue growth and PEP. Even with plenty of money coming in, costs are growing across the world. That, according to former Clifford Chance managing partner Tony Williams, is causing firms to “look much more carefully at who becomes an equity partner and who stays one.” Those elite American firms, consolidating their hold on the top of the list, are already doing this. Now it’s up to those who wish to be in their position to follow suit, (as quoted in The American Lawyer).

See highlights from the full article on The American Lawyer.

Contact Bill Sugarman for more information.

The American Lawyer released their annual Global 100 report, a ranking of the world’s 100 largest law firms by gross revenue, profits per partner, and total attorney headcount. Overall, gross revenue grew by 2.8 percent for The Global 100, and profits per partner increased, on average, by 0.5 percent. Attorney headcount also saw an increase this year, with an annual growth of 2.7 percent.

American firms accounted for 81 of the world’s top-grossing firms, matching a record set in last year’s survey, the report revealed. The remaining places are filled by 12 British firms, three from Canada, two from China, one from Australia and one from South Korea. According to the report, this is the second time in the history of Am Law’s global rankings that U.S.-based firms occupy the top five spots.

Latham & Watkins reigns in at No. 1 again this year, with the highest gross revenue of The Global 100. Baker & McKenzie retained the No. 2 spot, leading the top 5 in terms of total attorney headcount with 4,719 attorneys. Kirkland & Ellis advanced two spots to No. 3 this year, thanks to a 15% increase in gross revenue and 14% jump in profits per partner. Skadden Arps remained in its respective spot from last year, coming in at number 4. DLA Piper, on the other hand, dropped two places this year to claim the No. 5 spot, after a 3% decrease in total revenue.

See the full rankings and highlights from The Global 100 on The American Lawyer.

Contact Bill Sugarman for more information.

The American Lawyer released their annual Global 100 report, ranking the top law firms across the world. The report is based on gross revenue as well as number of attorneys and profits per partner. Attorney headcount saw an increase this year, with an annual growth of 6.4 percent. Overall, gross revenue grew by 3.1 percent for The Global 100, and profits per partner increased, on average, by 4.9 percent.

Latham & Watkins reigned in at No. 1 again this year, with the highest gross revenue of The Global 100. Close behind leader Latham was Baker & McKenzie and DLA Piper in spots 2 and 3, respectively. Skadden also remained in its respective spot from last year, coming in at number 4, with a higher revenue per lawyer average than each of the other top 5 firms. Kirkland advanced one spot to No. 5 this year, knocking Dentons down to number 6.

See the full rankings and more of the highlights from the AmLaw Global 100 on The American Lawyer.

Contact Bill Sugarman for more information.