find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Property lawyer - Melbourne
Category: Property Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Impressive client list, national firm · Well-led and high-performing team
View details
Senior family lawyer - Melbourne
Category: Family Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Outstanding national firm · High-calibre family law team
View details
Global reveals ‘record set of financials’ despite geopolitical uncertainty

Global reveals ‘record set of financials’ despite geopolitical uncertainty

Growth, revenue

Despite challenging market conditions, a global law firm has announced growth in both revenues and profit per partner in all of its regions.

Baker McKenzie has announced its financial results for the fiscal year ended 30 June 2017.

According to the firm, revenues are up 5 per cent in comparison to the previous year at $2.67 billion.

“Baker McKenzie is the most diverse global law firm with revenues spread by regions as follows: Asia-Pacific 26 per cent, EMEA 37 per cent, Americas 37 per cent,” a statement from the firm said.

“All of our regions’ revenues grew in FY17 by 4 per cent or more.”

Baker McKenzie also revealed profits per partner were up by 1.2 per cent in dollar terms at $1.3 million. The firm noted its PPP has increased by over 20 per cent since 2007.

“Despite the ongoing geopolitical uncertainty, we have reported another record set of financials with growth in all of our regions,” Baker McKenzie chair Paul Rawlinson said.

“A 5 per cent revenue growth and 1 per cent increase in profit is a strong performance in difficult circumstances. It means that over the last decade, our firm has grown revenues by 50 per cent without a significant merger. Very few global law firms can match that.”

In addition, Mr Rawlinson said Baker McKenzie has been dedicated to a number of other important initiatives this year.

“We have plenty else to be proud of this year – record client demand for our services, a great crop of new lateral hires, the successful launch of our market-leading innovation initiative and our long-term strategic investments in New York, London and China paying off,” he said.

“The market is increasingly seeing Baker McKenzie not only as the no. 1 legal brand in the world, but also as a truly innovative and integrated organisation with a clear vision and purpose, as well as its own unique culture.”

Looking ahead, Mr Rawlinson said Baker McKenzie will look to cement its position further over the next 12 months, despite challenging market conditions.

“Baker McKenzie has more than six decades of experience in advising and supporting our clients wherever they are in the world and whatever the volatility of the macroeconomic environment,” he said.

“We look ahead to the next 12 months with quiet confidence that despite a tough market, our people and our firm will continue to go from strength to strength.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Global reveals ‘record set of financials’ despite geopolitical uncertainty
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
Aug 23 2017
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...