- Baker McKenzie registered 17% growth in fess in the last three years, and was the only one of the Colombian "Big Five" that increased its fees by two digits, according to data reported by the Superintendency of Industry and Commerce (SIC) and the Bogotá Chamber of Commerce
- The analysis of law firms also considered the global support and the variety of legal services offered by the Firm in the country
Baker McKenzie, the global law firm with more than 80 years of history in the country, ranked second in billing in Colombia and the only one of the 'Big Five' that grew its fees by two digits in the period spanning 2016 - 2019. The law firm stood out among 130 other legal services firms that have a presence in the country that were considered for the analysis, with a focus on corporate law firms.
The primary sources of information used in the analysis include the commercial registers from the Chamber of Commerce, information on approved integrations and transactions reported to the Superintendence of Industry and Commerce of Colombia, the law firms’ web pages, international and national legal directories such as: Chambers & Partners, Legal 500, Procolombia, Who's Who Legal and Best Lawyer, among others. The information collected reflects sales totals that exceeded USD$29 million in 2018, a figure that reflects an increase of 7%, compared to 2017.
It is important to note that the report also collects information on the aggregates of the income tax returns of legal persons, which were provided by the National Directorate of Taxes and Customs (DIAN) in 2017. "According to these statements, the size of the Colombian Legal Activities market, in terms of revenue, was COP $2.86 billion, showing a growth of 17% versus 2016, but less than the 20% reached in the two previous years (2015 and 2014),” the document explains.
For Tatiana Garcés, managing partner of the firm in Colombia, "this achievement is the result of the trust our clients have placed in us, who see in Baker McKenzie a firm that, in addition to having global support, has a deep knowledge of the local industries, while offering a differential service. We also view it as a challenge that commits us to continue working decisively towards strengthening alliances with our clients, deepening our knowledge of them and their industries in order to simplify their business world.”
According to Reportes 360’s analysis, Baker McKenzie’s presence in international directories was a key aspect of the study. Thanks to these figures, the Firm, which in 2018 generated about 170 direct jobs, has managed to obtain greater presence and recognition in the market. It also highlights the variety of legal services offered by the Firm in the country, where the majority of law firms are located in Bogotá. Others reach other major cities such as Medellín, Cali and Barranquilla.