Latham Turns into Largest United States Agency In London By Headcount And Income – Legislation.com Worldwide

0
194

Latham & Watkins has actually surpassed long-term leader Baker McKenzie to end up being the biggest U.S.-centered law firm in London by headcount.

Latham now has around 550 lawyers in its London office, including 122 partners, according to a firm representative, putting it ahead of in 2015’s leader Baker McKenzie, which has roughly 525.

When trainees are left out from these figures, Latham presently has 500 attorneys, while Baker McKenzie has 475. The figures resemble mid-sized U.K. Top 50 law office.

Baker McKenzie initially entered the London market back in 1961, and has consistently ranked top by headcount in the U.K. capital. According to analysis carried out by ALM Intelligence, Baker McKenzie had the biggest London headcount of any U.S.-led company in 1979, 1989, 1999 and 2009.

Companies are classed as U.S.-based if they have more lawyers in the U.S. than in any other single country.

In its newest London Market Report, ALM’s analysis revealed that even in 2021, the firm still held the top spot for headcount omitting students with 455 legal representatives, whilst Latham was carefully behind in 2nd location with 448.

In comparison to these 2021 figures, Latham has actually increased its attorney headcount by 52 to leapfrog into top place, whilst Baker McKenzie has added 20 attorneys over the same period.

Earlier this year, Latham likewise appeared to dismiss Kirkland & & Ellis as the biggest U.S. law office in London by revenue, with the company’s London turnover reaching an estimated $675 million, ahead of Kirkland’s estimated $633 million. Neither firm provides London income figures and both declined to talk about the price quotes.

Stephen Kensell, handling partner of Latham’s London office, said: “London is a key tactical market and a central part of Latham’s international strategy. We’ve made significant investments here to establish a diversified and broad practice with an incredible bench of skill. There’s plenty more to come.”

In spite of Latham’s quick development in London over recent years, the company suffered an obstacle previously this month when a four-partner financing group relocated to U.S. rival Paul Hastings. The group included the company’s global co-chair of banking Ross Anderson, as well as Mo Nurmohamed and Karan Chopra, both co-chairs of the firm’s London financing practice.

Latham & & Watkins confirmed that over the last five years, the London workplace has promoted more lawyers than it has actually worked with, with 38 promotions and 34 lateral hires. In addition, during the most current round of partner promotions, students who joined the London office as part of the firm’s graduate scheme ended up being partners for the very first time.

ALM Intelligence’s London Market Report 2022 is available to download now on Law.com Compass. The report consists of insight and analysis into both the historic entry and present efficiency of US firms in London along with an evaluation of the marketplace’s total competitive landscape, client base, lateral hiring and promotions patterns, and economic and service environment.