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
Gateley Legal—Jack Kelly
Gateley Legal expands Midlands residential development team
Gibson Dunn—Richard Surtees
Gibson Dunn adds employee benefits and executive compensation practice in London with partner Richard Surtees
Laytons ETL—Alec Cameron
Laytons ETL appoints new partner and head of intellectual property disputes
NEWS
A series of recent decisions has clarified important principles across property law, from perpetuities to lease renewals and public rights over land
Employers cannot rely on wellbeing services alone to defend workplace stress claims after a High Court decision awarding almost £1m to an overworked employee
Andy Burnham's brand of 'Manchesterism' could offer fresh thinking on legal aid and access to justice if it reaches Westminster, according to Roger Smith, NLJ columnist and former director of JUSTICE
The constitutional fallout from a change of prime minister, rather than the politics, is under scrutiny as questions arise over the limits of executive authority in a leadership transition
The legal profession is undergoing a fundamental shift from selling services to creating technology-enabled products, according to Professor Luke Mason, Head of School of Law at Regent's University London
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