find the latest legal job
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Insurance Lawyer (1 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Great Career Opportunity ·
View details
Insurance and Health Lawyer (1-4 PAE)
Category: Insurance and Superannuation Law | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· New position to support Growth ·
View details
Bakers in the dough

Bakers in the dough

Baker & McKenzie has recorded $US2.54 billion in revenue for FY14, overtaking DLA Piper to become the world’s largest firm by revenue.

Bakers is the first firm to exceed $US2.5 billion in revenue since the global financial crisis.

In FY14, revenue increased by five per cent on the previous financial year and profits per equity partner (PEP) climbed by seven per cent to $US1.29 million.

The Asia Pacific accounted for 26 per cent of the global revenue figure.

Bakers has also taken the number one spot for global headcount. Lawyer numbers grew to 4245, 1430 of whom are partners. Overall headcount now stands at 10,896.

In announcing its financial results for FY14, Bakers revealed that revenue from transactional practices had increased to over $1 billion. The firm singled out banking & finance, tax and dispute resolution as standout practices. M&A, IP and trade & commerce were also identified as growth areas.

A number of UK-headquartered firms with offices in Australia have also released their global financial results for FY14.

Ashurst recorded £586 million in revenue for the UK financial year ended 30 April 2014, a six per cent increase on the previous year. The firm also revealed that PEP increased by 22 per cent to £801,000.

Herbert Smith Freehills announced £800 million in revenue for FY14, a five per cent increase on FY13, with a 12 per cent increase in PEP to £741,000.

Allen & Overy made over a billion dollars in FY14, recording £1.23 billion in revenue. The firm also reported a seven per cent increase in PEP to £1.12 million.

Fellow Magic Circle firm Clifford Chance recorded a slightly higher revenue figure of £1.36 billion and a 16 per cent increase in PEP.

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

Bakers in the dough
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Please, Continue (Hamlet), Melbourne Festival
Oct 16 2017
Hamlet suffers slings and arrows of top Victorian barristers
Victorian judges and barristers have performed the unique play Please, Continue (Hamlet) at the Melb...
Julian Assange
Oct 13 2017
When justice fails, according to Assange
WikiLeaks founder Julian Assange has dismissed the capacity of judicial systems to deal with complex...
Aussie anti-terrorism laws, detention of 10-year-olds
Oct 13 2017
Treatment of kids under Aussie anti-terrorism laws an over-reach: ABA
The Australian Bar Association has urged the government to reconsider proposed reforms to Australian...
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 & ...