Baker & McKenzie Increases Global Revenue to US$2.62BN – Successful Financial Year for Zurich Office
- The Zurich office increases revenue compared to last year – strong performances by its M&A, Capital Markets, Private Equity and Real Estate practices – further expansion planned
- Global revenue increase of 8% (16% in constant currency)
- Global net profit increases of 14% (22% in constant currency)
Baker & McKenzie, the world's premier global business law firm, as well as its Zurich office can look back on a successful financial year. Global revenue for the fiscal year ending 30 June 2016 totaled USD 2.62 billion, amounting to an increase in revenue of 8% compared to the previous year (16% in constant currency). Net profit increased by 14% (22% in constant currency) to USD 904 million.
Successful financial year for the Zurich office owing to existing and new clients
The financial year was also positive for the Zurich office of Baker & McKenzie and its 180 employees, with annual revenue slightly above the previous year’s and steady net profits. Martin Furrer, member of the Management Committee of the Zurich office, is especially pleased with the increase in the number of advised clients and mandates. "During the last financial year, we were again able to acquire a large number of significant mandates, both from existing as well as new clients. Among others, we advised Investis Holding in relation to one of only two IPOs on the SIX Swiss Exchange during the last six months. It was the first IPO following the Brexit decision in the United Kingdom in June this year."
Distinct growth of the transaction business
Baker & McKenzie Zurich noted a distinct growth within its M&A division. "Despite a difficult European and global economic climate, our office was able to benefit from numerous M&A transactions during the past twelve months," commented Alexander Fischer, Head of the Zurich M&A Practice Group. By way of example, the office advised AFG Arbonia-Forster Holding, a traditional Swiss industrial business, on numerous acquisitions.
Planned expansion and further investments in digitization
Pursuant to firm-internal analyses of the markets, the Zurich office expects the positive trends in the M&A, Capital Markets, Private Equity and Real Estate divisions to persist. "We will further expand our expertise in those areas, as well as in other fields important from a Swiss perspective, in the coming months in order to respond to the market demands," comments Martin Furrer.
The office also continues to address extensively the challenges digitization imposes on an evolving legal market. "We have identified this trend early on and already invested extensively in technological solutions and their integration in our work processes. Thanks to various technological tools, we are able to assist our clients even more efficiently and provide them with substantial information in real-time. We will continue to pursue this transformation process in the future," concludes Martin Furrer.
Awards and Rankings
- Tier 1-Ranking of Chambers Global 2016 Switzerland for our Corporate/M&A practice
- Tier 1-Ranking of Chambers Europe 2016 Switzerland for our Real Estate practice
- Tier 1-Ranking of Chambers Europe 2016 Switzerland for our Restructuring & Insolvency practice
- Tier 1-Ranking of Legal 500 Switzerland for our Capital Markets practice
- Tier 1-Ranking of Legal 500 Switzerland for our Employment practice
- Tier 1-Ranking of Legal 500 Switzerland for our Insolvency & Corporate Recovery practice
- Tier 1-Ranking of Legal 500 Switzerland for our Private Clients practice
- Tier 1-Ranking of Legal 500 Switzerland for our Real Estate & Construction practice
- Thomson Reuters ranked the Firm Number 1 in the world by number of cross-border deals for the seventh year in a row. 65% of our deals are cross-border.
- Acritas recognized the Firm as the world‘s strongest legal brand for the sixth year in a row.
- Baker & McKenzie is one of only three global law firms featured in the top 10 Financial Times Innovative Lawyers Rankings in all five regions (the Americas, Asia Pacific and EMEA).
- Chambers Global recognized Baker & McKenzie more than any other law firm in its 2016 global guide.