Latham tops Global 100 with $2.6B in earnings; revenue is up 4.5% overall
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Beating out two perennial mega-firm rivals for the number-one spot among the Global 100, Latham & Watkins for the first time is the world’s largest law firm by revenue.
Its $2.6 billion in earnings is the second-largest figure ever reported in the American Lawyer’s survey of the biggest global firms; only the $2.661 billion reported in 2008 by Clifford Chance was higher, the American Lawyer (sub. req.) says.
Overall, revenue for the top 100 law firms was up by 4.5 percent. Revenue per lawyer was up by 5.1 percent to a record of nearly $830,000, helped by a slight reduction in attorney headcount, the magazine reports in a lengthy article. Average profit per equity partner was a little over $1.7 million.
In recent years, Baker & McKenzie and DLA Piper have repeatedly done battle for the number-one spot on the annual revenue list, but this time around Latham’s 14-percent annual revenue increase put it solidly in the lead.
Baker & McKenzie had revenue of $2.43 billion and DLA Piper earned $2.48 billion.
American Lawyer’s full 2015 report and links to past years’ surveys are available here (sub. req.)
