Beyond the Bubble: Walker Morris goes to pot
This week, a Yorkshire firm is investing to meet its staff’s new demands after doubling revenue in three years, while Walker Morris employees try a new hobby.
Matt Byrne
Matt is The Lawyer’s deputy editor. He has a particular focus on the US legal market. He also leads many of The Lawyer’s market reports, including the UK 200.
Revenues up, profits up: UK top 50 firms in record-breaking year
Five UK 200 firms posted a total turnover in excess of £2bn in 2023/24, while one topped £3bn for the first time in a year when both revenue and profit grew significantly. The top 50 firms ranked by global revenue generated a total £33.4bn last year, up by 8.4 per cent on the previous year. […]
Magic circle firms are too big
Who says UK firms are getting left behind in the global legal market? Whoever it is should take a look at the top end of this year’s UK 200, which later this month highlights that for the first time ever, all four magic circle firms have a turnover of more than £2bn (though it’s worth […]
Shepherd & Wedderburn pays all-staff bonus as revenue rises 7 per cent
Scottish-headquartered firm Shepherd & Wedderburn posted a 7 per cent rise in total revenue for the 2023/24 financial year, with net profit reported as having risen by 12 per cent to £30.2m. In recognition of the firm’s performance, a bonus of 5 per cent of annual salary was paid to all employees. This is the […]
Sidley, an unsung private equity shop
Chances are, when asked to name a private equity law firm in the City your first thought would turn to Kirkland, Latham or Simpson Thacher. Hands up who said Sidley? Thought as much. But here’s a data nugget for you. Over the past decade, Sidley’s global private equity-related fee income is thought to have risen […]
Bakers is finally getting some focus
Rare is the firm that isn’t obsessed with “moving up the value chain.” Along with being “client-centric,” “sector-focused” and “collegiate,” it is among the most often trilled out of tropes by senior management aiming to portray their firm as ambitious, dynamic and entrepreneurial (which, incidentally, are three more). And yet. When real change does take […]
Nicely done, Slaughters
It probably isn’t quite as catchy as the Skinner and Baddiel version, but “They’re coming back, they’re coming back, they’re coming, deals are coming back” at least has the virtue of being accurate. Certainly, according to the data in this month’s UK Corporate 50 report, M&A and other corporate activity is at a higher level […]
Kirkland’s beaten Linklaters again
Does anyone need any confirmation of the gradual takeover of the City by rampaging US law firms? No, thought not. If, however, your answer is yes, then more evidence of the Americanisation of London can be found in the upcoming edition of the UK Corporate 50. Much of the focus in this year’s report is […]
Mills & Reeve staff set to share in £3m bonus pot
Mills & Reeve’s turnover rose by double digits in 2023/24 to a new record high that has resulted in the firm’s highest-ever all-staff bonus pool of £3m. The firm’s turnover rose by 14.1 per cent to £168m, beating its 2025 strategic target of £150m a year ahead of schedule. The firm has not yet revealed […]
Morton Fraser MacRoberts revenue rises in first-ever financial results
Morton Fraser MacRoberts has posted a 2 per cent rise in revenue in its first set of financial results since the 1 November merger of legacy firms Morton Fraser and MacRoberts. The increase takes the total revenue at the recently-merged Scottish firm to £47.5m, which should be enough to propel Morton Fraser MacRoberts into the […]
AI guru Susskind wins new Commonwealth role
Richard Susskind, one of the UK’s best-known experts on legal market technology and artificial intelligence (AI), has been appointed to a new position of special envoy for justice and AI to the secretary-general of the Commonwealth, Patricia Scotland KC. Susskind’s focus in this new role will be on helping the 56 Commonwealth countries use AI […]
Brodies pays firmwide bonus as revenue hits £114m
Brodies has posted a 7.5 per cent rise in fee income for its financial year to 30 April, the Scottish firm’s 14th consecutive year of revenue growth. Turnover rose from £106.3m to £114.3m. The bottom line grew less significantly, with operating profit up by 1 per cent from £48.6m to £49.2m and average profit per […]