Law firms in the money

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.