NORTON Rose is the standout performer in the United Kingdom’s newly released top 20 largest firms by revenue for the 2010-11 financial year. Its success has been attributed, at least in part, to the firm’s linkup in Australia.
Powered by its 1 January 2010 merger with Australian law firm Deacons, Norton Rose has risen three places in the table, from 10th to 7th place, with a total turnover of £484 (AUD$727) million, UK magazine The Lawyer reports.
The surprise escalation up the tables is a change on the usual stagnant positioning among the UK’s largest firms. Recent consolidation in the legal market has resulted in the shake up, The Lawyer reports.
The law firm’s performance and global revenue was enough to secure its place among the world’s 50 largest law firms.
The gap between the UK’s largest “big four” law firms is closing. Income at Linklaters rose by 1 per cent last year, from £1.18bn to £1.2bn, which placed the firm around £190m short of Clifford Chance.
Freshfields Bruckhaus Deringer remained virtually static in the tables, with a total revenue of £1.14bn, a little ahead of Allen & Overy’s £1.12bn.
DLA Piper, which merged with Australian firm Phillips Fox and officially opened its doors as DLA Piper in May this year, is in 6th place in the tables. Its turnover was similar to the previous year at £580m, down marginally on last year’s £581m. However, its full integration was only confirmed in March.