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Posted September 26, 2017, 7:00 am CDT
Overall revenue for law firms in the American Lawyer’s Global 100 rose just 2.8 percent in 2016, a figure that the publication views as a sign of challenging times.
Total revenue was $99.3 billion, and the gain was the lowest since the Great Recession, the American Lawyer (sub. req.) reports.
Revenue per lawyer was essentially flat at $813,000, while profit per equity partner dropped one half of 1 percent to $1.59 million, and profit per lawyer fell slightly to $317,000.
Latham & Watkins was the world’s largest law firm by revenue, a position it has now held for three years. It posted revenue of more than $2.8 billion. U.S. law firms hold the top five spots in the revenue chart, for the second time in the Global 100 history.
The top five law firms by revenue (American Lawyer, sub. req.) are:
1) Latham & Watkins ($2.823B)
2) Baker McKenzie ($2.67B)
3) Kirkland & Ellis ($2.651B)
4) Skadden, Arps. Slate, Meagher & Flom ($2.495B)
5) DLA Piper ($2.470B)
The top law firms by profit per equity partner (American Lawyer, sub. req.) are:
1) Wachtell, Lipton, Rosen & Katz ($5.8M)
2) Quinn Emanuel Urquhart & Sullivan ($5.015M)
3) Paul, Weiss, Rifkind, Wharton & Garrison ($4.38M)
4) Cravath, Swaine & Moore ($4.195M)
5) Kirkland & Ellis ($4.1M)
The top law firms by head count (American Lawyer, sub. req.) are:
1) Dentons (7,445 lawyers)
2) Yingke (6,278)
3) Baker McKenzie (4,719)
4) DLA Piper (3,616)
5) Norton Rose Fulbright (3,505)
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