The Lawyer has announced the top 200 UK law firms by revenue in their most recent UK 200 Report.
In a year hallmarked by global political and economic turbulence and whispers of an impending recession, these firms’ financial results seem to defy the odds. Research into the business trends of these firms suggest that well managed and well hedged firms are positioned to successfully navigate through this uncertainty and benefit from new opportunities it creates.
As October 31st looms, it remains to be seen the impact Brexit will have on the legal services market. It is perhaps unsurprising that most UK law firms predict an increase in workload and revenue in the short-term. Regulatory advice is likely to be key driver of this increase, as UK businesses, or foreign businesses operating in the UK, seek to clarify the new rules of the game. However, the long-term impacts are not so clear.
As the UK 200 Report data shows, 91.4 percent of the entire revenue of the top 100 firms was generated by firms in the top half of the ranking. These firms are likely to continue to see growth due to the international nature of their operations and the continued attractiveness of the UK as the capital raising, banking and insurance hub of Europe. Those towards the end of the list, however, will need to plan carefully and remain agile to take full advantage of new opportunities, and avoid unforeseen consequences of Brexit on the UK legal services market.
Here’s the top 10 list from The Lawyer. Head to their website for the complete list.
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