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Sunday, 5 May 2019

This is a list of the world's largest law firms by revenue.

This is a list of the world's largest law firms by revenue.

The combined revenue of the world's top 200 law firms exceeded $100bn in 2015. The list includes 144 US, 31 UK, 9 Asian, 7 Canadian and 9 European firms, which collectively brought in $127bn in 2014.

The average firm produces some $550m in revenue and employs 830 lawyers, including 314 partners. Average revenue per partner is $1.77m.

Collectively, the top 200 global firms have offices in 573 cities in 94 countries around the world. The US is by far the largest jurisdiction for these firms, employing a total of 40,376 partners, or 64.2 per cent of partnerships in The Lawyer Global 200 ranking. The UK is second, with 6,929 partners, while Canada comes third with 2,252 partners.

The following is a list of the world's 100 largest law firms by revenue as of February 2018

The following is a list of the 100 largest United Kingdom-based law firms measured by worldwide revenues, as well as their PEP, lawyer numbers and profit margins. The list only includes law firms which are headquartered, co-headquartered or maintain a large network of offices in the United Kingdom. The list does not include the QualitySolicitors network of British law firms, which has system-wide revenues of around £300 million

Kirkland & Ellis LLP is an international law firm founded in Chicago in 1909. It is the world's highest-grossing law firm, with US$3.165 billion in revenue.

Kirkland's private equity, restructuring, and intellectual property groups are largely regarded as industry leaders. Kirkland is also known for its litigation practice, aimed mainly at large corporate clients that go to trial.

Kirkland is the third most profitable law firm in the world, with estimated profit per equity partner of US$4.701 million.[1] Kirkland is also known for paying associates above-market salaries through performance-based bonuses that exceed those offered by peer firms.[3] The starting salary for first-year associates is US$190,000.[4]

Kirkland was ranked second in the 2017 ATL Power 100 law firm rankings.[5] Vault ranks Kirkland as the most prestigious firm in Chicago and the #1 firm in the U.S. for private equity, restructuring, and business outlook

In 1909, two young attorneys, Stuart G. Shepard and Robert R. McCormick, teamed up to form the Chicago-based partnership that would eventually become Kirkland & Ellis. McCormick was the grandson of Joseph Medill, the founder of the Chicago Tribune. McCormick was an "innovative and forceful lawyer"[7] who had also served with distinction in World War I. By 1920, McCormick had become so active in the business affairs of the Chicago Tribune that he left the firm to take over as the Tribune's publisher.

As a consequence of McCormick's outspoken, crusading editorial policy the Tribune soon required the services of a first-class trial lawyer to defend against a slew of defamation cases. McCormick turned to Weymouth Kirkland, who had joined the firm in 1915. Over the course of his career, Kirkland attracted some of the firm's largest clients. Often described as a brilliant trial lawyer, he served as chief counsel to the Tribune and other newspapers in various cases that became landmarks in free speech and libel law.

Kirkland's partner, Howard Ellis, was a pivotal contributor to the firm's early history. Ellis joined the firm as a young associate in 1915. Ellis assisted Kirkland in many of his most famous trials, in which they defended clients such as Standard Oil Company, the Associated Press, the Chicago Board of Trade, among others. The duo made legal history in a landmark libel suit brought by Henry Ford in 1919, during which Ellis pioneered the defense of fair comment, which is today a basic right of free speech.

In 1938, Kirkland and Ellis hired young trial lawyer Hammond E. Chaffetz from the U.S. Department of Justice. Chaffetz is noted for ushering in "the modern era of the firm". A skilled lawyer and leader, Chaffetz employed a personal touch in his recruiting efforts, often taking outstanding law students to dinners and on walks to bring them into the firm. In his six decades at the firm, Chaffetz's techniques were noted for helping the firm grow to about 780 lawyers, making it one of the top 30 largest in the country.[8] Kirkland currently has offices in Beijing, Boston, Chicago, Dallas, Hong Kong, Houston, London, Los Angeles, Munich, New York, Palo Alto, San Francisco, Shanghai and Washington, D.C.

In recent years, Kirkland has stood out as the most consistently growing Am Law 200 firm. The firm's revenue increased by 147 percent over the last 10 years. Between 2009 and 2016, Kirkland was one of nine Am Law 200 firms to have posted growth in six of the seven years in revenue, revenue per lawyer, profit per lawyer, and profit per equity partner. Of those nine, Kirkland posted the best cumulative growth in each of those four areas. In September 2016, Kirkland & Ellis hired all of the attorneys from the firm Bancroft PLLC.[13] In 2017, the firm grew revenue by 19 percent
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