Latham & Watkins has retained its position as the world's largest law firm by revenue for the third year, boosting its top line for the seventh consecutive year to pass $2.8bn.

The US firm has managed to add more than a billion dollars to its revenue since the peak of the recession in 2009, equivalent to a 55% increase during the past seven years.

This year is only the second time in Global 100 history that US-based firms occupy the top five places by revenue. American firms account for 81 of the Global 100, with the remaining places taken by 12 UK firms, three from Canada, two from China, one from Australia and one from South Korea, while there are once again no firms from continental Europe.