The US may still be the world’s largest legal market, but this year’s results have left the UK’s leading firms feeling broader-shouldered in the knowledge that they are giving Wall Street a run for its money.
With average increases in turnover and profits per equity partner (PEP) of 14% and 13.5% respectively, the UK’s top 50 firms have collectively outpaced their rivals across the pond, which recorded an average turnover increase of 12% for 2006 against a PEP rise of 11.2%, according to the Legal Week US Top 50.
