After slipping 4 per cent in 2014/15, revenue made a solid comeback at Baker & McKenzie last year by climbing 8 per cent from $2.43bn to $2.62bn. The strong performance represents a five-year high for the firm, with turnover having accumulatively climbed 13.9 per cent since 2011/12. Meanwhile, Bakers’ net profit lifted 14 per cent over the course of the year to $904m, while profit per equity partner was similarly up 13 per cent to another five-year high of $1.3m. The results see Baker & McKenzie overtake rival DLA Piper to become the world’s second largest law firm by turnover.
London praised
Commenting on the results, Baker & McKenzie global chairman Eduardo Leite pointed to London as one of the firm’s highest-performing outposts. In June, the firm elected Paul Rawlinson to take over as managing partner of its London office from late-October this year. ‘Paul is a great choice for the firm,’ commented Mr Leite. ‘He has the cultural sensitivity that someone leading Baker & McKenzie needs. He is a global citizen, something that Baker & McKenzie has always looked for in its leaders,’ he added.
Sources: The Lawyer; Legal Business
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