The 2019 Global 100
Fueled by a healthy American market and significant growth among Chinese firms, the Global 100 posted a second straight year of major revenue increases,…
September 24, 2019 at 05:30 AM
5 minute read
Fueled by a healthy American market and significant growth among Chinese firms, the Global 100 posted a second straight year of major revenue increases, topping 8% as a group. In our annual report on the world's largest law firms, we pay close attention this year to the role that China is playing in the industry's upward trajectory. In our China 45 report, we highlight the fact that even firms toward the bottom of that list are taking big steps forward, and in a piece analyzing the past 10 years of foreign growth among the biggest U.S. firms, China emerges as a key piece of the puzzle.
In addition to the annual rankings based on revenue, profits per equity partner and head count that can be found below, we have a profile of Baker McKenzie, an enormous global firm dealing with a great tragedy in the midst of an effort to overhaul its operations. We also explore the affect on law firm practices of three years of international turmoil, since President Trump's election and the Brexit vote, finding that in many cases, the bad news has been good for business.
The Global 100 Are in the Midst of a Growth Spurt
Total revenue for the Global 100 increased a vigorous 8.1% over the past year, a step up from 2017's already robust 6.7% growth and a showing that dwarfs the 2.8% and 3.1% growth from the two preceding years. These firms brought in a collective $114.2 billion, more than the 2018 gross domestic product of Ecuador, the 60th largest economy in the world.
Baker McKenzie Is Building for the Future With Paul Rawlinson's BlueprintRawlinson's death came as a shock to his industry colleagues and peers—and his firm is still reeling as it continues the mammoth task of preparing for an uncertain world. As Baker McKenzie comes to terms with the short- and long-term effects of Rawlinson's death, it's been forced to carry out a future-proofing mission without the guidance and leadership of the man who drew it up. Can the vision survive?
How International Turmoil Has Fueled Growth at Global FirmsAny lawyers who once thought the initial upheaval of the Brexit vote and President Trump's election would subside have since learned to expect the unexpected. Yet global firms say they have profited in the last couple of years from clients' increased need for expert counsel to help them deal with it all.
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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