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International Edition

Partner numbers across top 50 grow 7% as equity partner ranks see more modest rise

Partner numbers across the UK top 50 have grown almost 7% this year, as a number of significant mergers continue to drive headcount growth at leading law firms. Across the 2012-13 financial year there were an average of 10,115 partners working at the top 50 firms, up 6.9% from 9,458 the previous year. Following a spate of mergers, DWF saw the largest growth in partner numbers across the group, leaping from 152 to 285 over the year as a result of tie-ups with Biggart Baillie, Fishburns and Buller Jeffries as well as taking on a number of partners from now defunct Cobbetts.
3 minute read

International Edition

DLA stretches global rankings lead as mergers reshape legal hierarchy

DLA Piper continued to expand its global business at a greater rate than the magic circle last year, according to Legal Week's global rankings, which account for revenues generated across both UK and international profit centres. Combined revenues for DLA's international and US partnerships grew by 9.9% to £1.54bn for 2012, 50.7% of which came from the international partnership, which includes UK revenues. Global lawyer headcount grew 13.9%, while partner numbers fell 2.7%. The results consolidate the firm's status at the pinnacle of the global revenue rankings for UK firms, ahead of second-placed Clifford Chance, which recorded a 2.5% fall in revenue to £1.27bn.
3 minute read

Legal Week

He who would be King – firms must run to stay still as merger glut gathers pace

When SJ Berwin elected Stephen Kon as its senior partner last year, it did so on a manifesto promise of international growth. And Kon has certainly delivered. The firm has never been one to follow the herd, and the successful conclusion of its merger talks with Sino-Australian giant King & Wood Mallesons (KWM) this week certainly marks it out. The combination – uniting the top 30 firm with the partnerships of legacy King & Wood and Australia's Mallesons Stephen Jaques – will create a firm of some 2,700 lawyers, with the UK firm's moniker being subsumed and KWM lawyers outnumbering SJ Berwin's five to one.
8 minute read

International Edition

UK top 50 push combined revenues past £13bn as PEP growth falters

The UK's top law firms have achieved a third consecutive year of growth despite the continued unsettled economy, with combined revenues for the 50 largest firms forcing their way through the £13bn mark. Legal Week's 2012-13 results show that total revenues across the top 50 law firms grew almost 5% on the previous financial year to hit £13.54bn, while average income growth across the group stands at 6.9%.
1 minute read

Legal Week

UK top 50 push combined revenues past £13bn as PEP growth falters

The UK's top law firms have achieved a third consecutive year of growth despite the continued unsettled economy, with combined revenues for the 50 largest firms forcing their way through the £13bn mark. Legal Week's 2012-13 results show that total revenues across the top 50 law firms grew almost 5% on the previous financial year to hit £13.54bn, while average income growth across the group stands at 6.9%.
1 minute read

International Edition

SJ Berwin-King & Wood Mallesons merger gets green light creating $1bn global giant

SJ Berwin has sealed its merger with Asia-Pacific giant King & Wood Mallesons (KWM), creating a $1bn (£657m) firm, with the SJ Berwin name set to disappear after a transitional period. The tie-up, which marks the first major merger between a UK and an Asia-Pacific firm, will go live from November this year after partner voting closed today (31 July).
7 minute read

International Edition

US firm Blank Rome closes Hong Kong office as partners depart

Blank Rome has closed its Hong Kong office, making it the latest international outfit to downsize in Asia. The US firm, which made its regional debut in Hong Kong in October 2006, said it was realigning its resources in response to client demand and had shut the base on July 27.
2 minute read

International Edition

Taylor Wessing targets SE Asia expansion with network of formal alliances

Taylor Wessing's Singapore member firm RHT Law Taylor Wessing is to announce formal alliances with local outfits in four South East Asian markets within the next month. The Singapore firm, which joined the UK-based Taylor Wessing group in 2011, is planning to secure tie ups with firms in Indonesia, Thailand, Vietnam and Malaysia in the coming four weeks, having been tasked with growing the Taylor Wessing brand in the ASEAN region.
2 minute read

International Edition

KWM-SJB merger nears decision time with Australia, HK partner vote

King & Wood Mallesons (KWM) partners will vote tomorrow (31 July) on its keenly anticipated tie-up with UK outfit SJ Berwin. The firm's Hong Kong and Australia partnerships will hold two separate meetings tomorrow - for which two hours have been allotted - starting simultaneously at 1pm Hong Kong time and 3pm Sydney time, at which they will cast their votes.
3 minute read

International Edition

Hill Dicks cuts 14 partners and 69 staff following UK review

Hill Dickinson has cut a total of 83 roles, including 14 partner positions, following a review of its UK business which kicked-off in May. The firm said that 44 of the redundancies were voluntary however declined to give details of which practice areas and regions were affected or how many roles had been put at risk. The review was intended to focus on the firm's range of services and its geographical reach, with the move coming in response to "prevailing market conditions", according to the firm. Yesterday (29 April), the firm announced that it was to sell its 24-strong Chester office to Knights Solicitors with the transfer taking place on 1 October.
2 minute read

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