Baker McKenzie sets record financial year and announces partner promotions, including in the Middle East
- Revenues up 5% with growth in all regions
- 80 new partner promotions globally, including in the UAE, plus 59 lateral partner hires
Leading global law firm Baker McKenzie has announced record revenues for the fiscal year ended 30 June 2017 (FY17) of US$2.67 billion, up 5% compared to the previous year, as well as the promotion of 80 new partners globally, including in the Middle East.
Baker McKenzie is the most diverse global law firm with revenues spread by regions as follows: EMEA 37%, Americas 37% and Asia Pacific 26%. All of our regions' revenues grew in FY17 by 4% or more.
In the UAE, the Firm's strong performance was reflected in the promotion of Dispute Resolution counsel Tarek Saad to the partnership. Admitted in Egypt, he has over 20 years' experience in civil and commercial litigation in the Middle East, including more than 10 years in the UAE. A seasoned litigator, Tarek focuses on maritime and IP litigation, heading up Baker McKenzie Habib Al Mulla's Maritime practice in the UAE and leading the team advising the UAE's Federal Transport Authority on the draft of a new UAE maritime law. This brings the number of partners based in the UAE to 16.
"The promotion of Tarek Saad to our partnership is another significant milestone in the growth of Baker McKenzie Habib Al Mulla in the UAE as we advise and support our clients wherever they are in the world and whatever the volatility of the macroeconomic environment," said Dr. Habib Al Mulla, Chairman of Baker McKenzie Habib Al Mulla.
We are delighted to welcome Tarek to the partnership.
In addition to 80 partner promotions globally, nearly 40% of whom are women, Baker McKenzie also hired 59 lateral partners, taking the number of partners worldwide to nearly 1,600 as of 1 July 2017.
Our global brand
Baker McKenzie has continued to be recognized for its market and brand leadership in FY17. Thomson Reuters ranked the Firm No. 1 in the world by number of cross-border deals for the eighth year in a row, and we have also been recognized as the world’s strongest legal brand for the seventh year in a row by Acritas.
The Firm has been praised in the Middle East for its exceptional legal and advisory service and overall impact to the economy, winning three awards in the last 12 months: "Telecoms, Media & Technology M&A Legal Adviser of the Year" in the Mergermaket Middle East M&A Awards 2017, "Litigation Law Firm of the Year" at the Middle East Legal Awards 2017 hosted by Legal Week and the Association of Corporate Counsel, and "International Law Firm of the Year" at the Oath Middle East Legal Awards 2016.
"Despite the ongoing geo-political uncertainty, we have reported another record set of financials with growth in all of our regions," Baker McKenzie Chair Paul Rawlinson said. "We have plenty else to be proud of this year - record client demand for our services, a great crop of new lateral hires, the successful launch of our market-leading innovation initiative, and our long-term strategic investments in New York, London and China paying off. The market is increasingly seeing Baker McKenzie not only as the No. 1 legal brand in the world but also as a truly innovative and integrated organization with a clear vision and purpose, as well as its own unique culture."