L-R: Colin H. Murray, Jannan Crozier, Alan Zoccolillo Jr. and Arturo Carrillo of Baker McKenzie. Courtesy photos Baker McKenzie Sets Profitability Goals, Focusing on New York
"Our U.S. [PEP] would land us around No. 39. Our goal is to be playing in the top 25," said Colin Murray, the firm's North American CEO.
September 30, 2024 at 05:00 AM
7 minute read
What You Need to Know
- Baker McKenzie, long known for its international scope, has plans to grow its transactional practices, particularly in New York.
- Firm leaders said they would like to grow their profits per equity partner to be among the Am Law 25.
- At the same time, observers say the firm has steep competition as it seeks to grow.
Baker McKenzie has always been known as an international firm, but it's now undergoing a North American-focused growth strategy, particularly in New York, with a goal to recruit top lateral partners and increase U.S. profits per equity partner to be among the top in Big Law.
This year, the firm's average profits per equity partner (PEP) have grown to around $3 million in the U.S., according to firm leadership. (The firmwide average PEP was around $1.98 million in its last fiscal year, according to ALM data).
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