The UK’s top 10 law firms are now valued at more than £17bn according to legal recruiters Douglas Scott. Director, Jonathan Nolan says this value can be reached by looking at last week’s placing of law firm Gateley on AIM, which gave it a market cap of £100m, or five times reported profits. He calculates DLA Piper at £2.02bn, Clifford Chance at £2.295bn, Linklaters at £2.605bn, Allen and Overy at £2.66bn, Freshfields at 2.74bn, Hogan Lovells at £1bn, Herbert Smith at £1.16bn, CMS Cameron McKenna at £1.05bn, Ashurst at £1.045bn and Norton Rose Fulbright at £0.555bn.
19 June 2015
Law firms in the money
MOVERS & SHAKERS
NLJ Career Profile: Nikki Bowker, Devonshires
Nikki Bowker, head of dispute resolution at Devonshires, on career resilience, diversity in law and channelling Elle Woods when the pressure is on
Ellisons—Sarah Osborne
Leasehold enfranchisement specialist joins residential property team
DWF—Chris Air
Firm strengthens commercial team in Manchester with partner appointment
NEWS
The government will aim to pass legislation banning leasehold for new flats and capping ground rent, introducing non-compulsory digital ID and creating a ‘duty of candour’ for public servants (also known as the Hillsborough law) in the next Parliament
An Italian financier has lost his bid to block his Australian wife from filing divorce papers in England on the basis it was no longer her domicile of choice
Reforms to the disclosure regime in the business and property courts have not achieved their objectives, lawyers have warned
The Law Society has urged ministers to hold a public consultation on the use of artificial intelligence (AI) in the justice system as a whole
Ministers have proposed bringing inquest work under a single fee scheme for legal help and advocacy legal aid work
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