Updated: Feb 5
Baker McKenzie, the leading global law firm, has announced revenues for the fiscal year ended 30 June 2018 (FY18) of $2.9 billion. In terms of constant currency, Baker McKenzie's revenues were up 10% compared to the previous year. In US dollar terms, the Firm's reporting currency, this translates into growth of 8%. Profits per Partner were up by 13% to $1.44 million, driven by large client mandates, including high-value cross-border transactional and premium work which continues to be attractive to repeat clients. Investments in project management, centers of excellence in lower-cost locations, and more effective partnering with clients, supported by long-term investments in industry, practice and client programs have enabled profitable growth. Baker McKenzie remains the most geographically diverse global law firm with revenues spread by region as follows: Asia Pacific 26%, EMEA 39%, Americas 35%. Baker McKenzie Chair Paul Rawlinson says, "You can't be global and successful without having an authentic core purpose to serve our clients. This means making continued investments in industry, practice and client programs and our people. Our excellent financial results -- including a 13% increase in PPP -- are based on long-term partnering with clients to create that magical 'win-win' through trust: delivering what clients value wins repeat business and allows us to invest for the future." Innovation to serve clients better
Paul adds, "We are currently also embarking on a major program aimed to make our professional and business services teams even more effective, mainly focused on transforming our use of technology to disrupt and challenge industry norms by maximising the efficiency and quality of our services and sharing those benefits with our clients. It's an exciting prospect and I would like to thank our clients for their loyalty and our people for their dedication." Paul continues: "But it's not just talk. Baker McKenzie is the only law firm that offers a truly global integrated digital innovation platform to clients and this is already beginning to make a direct impact on our financial performance. We estimate that our use of alternative legal services in Belfast, our e-discovery platforms and our use of legal project management are already bringing significant efficiencies and savings to our clients and more than $50 million in annual revenue to support our core legal services on high-value mandates. Bringing global teams of people together with strong leaders and using globally deployed technology are winning us new business."