find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
Asia-Pacific growth boosts K&L’s flat financials

Asia-Pacific growth boosts K&L’s flat financials

K&L Gates has posted a 25 per cent increase in revenue in the Asia-Pacific region for the year ending 31 December 2012, the day before the merger with Middletons became official.

The global firm’s financial scorecard for 2012 revealed overall revenues were flat at $US1.06 billion. But the Asia-Pacific region performed strongly, with revenue up around $US8 million, despite a decrease in headcount of three per cent.

Headcount in the region will be noticeably higher in the next financial report, with the Middletons tie-up taking effect on 1 January 2013. The merger added 70 partners and 300 lawyers to K&L Gates’ tally. The firm also officially opened its Seoul office at the start of 2013.

K&L Gates’ Europe and Middle East operations also reported growth for 2012, with revenue rising by around 17 per cent and headcount up by an average 13.4 per cent across the region. The firm launched its first office in Italy in February 2012, following a merger with Milan firm Marini Salsi Picciau Studio Legale.

In the Americas, however, revenue dropped by 2.5 per cent and headcount declined by an average of seven per cent. Overall, firm-wide headcount decreased by 3.8 per cent.

Income per fully participating equity partner increased by around $US9.6 million across the firm, in line with a headcount reduction of 17. Overall, these partners took a 21 per cent slice of the firm’s total revenue.

K&L Gates singled out its intellectual property practice for productivity growth of almost 10 per cent.

The firm also revealed that 467 of its 500 largest clients used lawyers from two or more of its offices in 2012. This result reflects a more than decade-long trend of increasing levels of inter-office work, the report stated. The 100 largest clients, who generated 34.4 per cent of revenue, engaged, on average, more than 10 offices in 2012.

The changes in revenue include the effect of movements in average foreign currency exchange rates relative to the US dollar.

K&L Gates employs more than 2000 legal professionals across 47 offices globally.

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

Asia-Pacific growth boosts K&L’s flat financials
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Dec 11 2017
Warm welcome for new district court judges
Three practitioners who were appointed as district court judges in WA have been congratulated by ...
Lawyers welcome same-sex marriage reform
Dec 11 2017
Lawyers welcome same-sex marriage reform
Australian lawyers have welcomed the recent legalisation of same-sex marriage, after a prolonged nat...
Senate disallows double standards for temporary visa holders
Dec 8 2017
Senate disallows double standards for temporary visa holders
Lawyers have welcomed the Senate’s rejection of regulations imposing strict penalties on temporary...
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 & ...