Results of our Global 100 survey and analyses show growth is slowing and profits are dipping. Firms are adjusting to rapid-fire market changes as the world adjusts to the multitude of geopolitical forces at play. Figuring out the proper global complement is increasingly challenging, but there are opportunities to be had with new markets emerging as key players on the world stage.
For Global Law Firms, Is This As Good As It Gets?
The new normal for the world’s largest law firms is shaping up to be slowing growth and falling profits.
CHART: Firms Ranked by Most Revenue
Gross revenue for The Global 100 grew by 2.8 percent in 2016, to $99.3 billion, just shy of 2015’s increase of 3.1 percent.
CHART: Firms Ranked by Head Count
Overall lawyer head count for global 100 firms was 122,157 in 2016, up 2.7 percent from 2015.
CHART: Firms Ranked by Highest Proft Per Equity Partner
Profits per equity Partner among Global 100 firms averaged $1.6 million in 2016, an increase of less than one percent, and less than 2015’s nearly five percent gain.
GLOBAL LEGAL AWARDS
Argentina’s $16.5B Debt Offering Is Grand Prize Winner, Finance, in Global Legal Awards
Bruchou, Fernández Madero & Lombardi; Cleary; Errecondo González Funes; Shearman & Sterling and Argentina’s Ministry of Finance worked on the deal that returned Argentina to international capital markets after a 15-year exile.
Top Global Legal Award in M&A Goes to ChemChina’s $43B Syngenta Buy
The largest ever outbound acquisition by a Chinese company wins Grand Prize, Corporate, in the Global Legal Awards. Simpson Thacher; Homburger; Linklaters; Davis Polk and Bär & Karrer were among the firms that made the deal happen.
Nortel Networks Bankruptcy Named Grand Prize Winner, Disputes, in Global Legal Awards
Resolving this sprawling cross-border insolvency took the best efforts of Herbert Smith, Goodmans, Cleary—and many more.
Global Legal Awards’ Grand Prize in Citizenship Honors Pro Bono Efforts in the European Refugee Crisis
Morrison & Foerster and Latham & Watkins are among the law firms cited for their work for refugees.
The China 40: On the Rise
Riding China’s record-setting outbound investment boom, the country’s largest law firms are catching up with their global counterparts in financial performance.
CHART: China 40 Firms Ranked by Most Revenue
Here are the 40 largest law firms in China based on gross revenue.
CHART: China 40 Law Firms Ranked by Revenue Per Partner
This ranking details how firms stack up when it comes to the all important revenue per lawyer metric.
CHART: A Peek at Profitability
For the first time, we are able to share profitability data on a subset of the largest Chinese firms.