Leading global law firm Baker McKenzie has announced revenues of USD $3.3 billion for the fiscal year ended 30 June 2023 (FY23), on par with the previous year and 2.5% up on a currency neutral basis.
These strong results come despite challenges including the financial impact of spinning off the firm's former Russian operation, reduced deal flows across markets, and adverse currency and inflationary pressures.
Against this backdrop, Baker McKenzie's core strength as a market leading, full service global law firm has again provided a natural hedge against market uncertainties. The firm saw net income also remain in line with the previous year at $1.2 billion.
Baker McKenzie saw strong growth across several key sectors including manufacturing, healthcare, and energy and infrastructure, as the global energy transition continued to drive activity.
On the practice front, Baker McKenzie saw a robust performance in key areas including Employment & Compensation (6%), Projects (4%), M&A (4%) and Antitrust & Competition (19%), with the firm's transactional teams completing a number of landmark deals*.
From a geographic perspective, we saw substantive growth across the Americas, with North and Latin America each seeing a currency neutral revenue increase of 3.8%, while many of our larger markets elsewhere including the UK, Spain, Switzerland, Singapore and Thailand also performed well.
Commenting on the results, Milton Cheng, Global Chair, Baker McKenzie said:
"Baker McKenzie continues to advise clients on their highly complex transactions and finding solutions to the most challenging legal issues they face. The world's leading companies are today entrusting us with major transformations as they reshape their businesses, and turn to our firm to make sense of an increasingly complex regulatory environment. We value the trust that our clients place in us, based on the years of experience working together on complex matters and business solutions."
Baker McKenzie remains committed to inclusion and diversity, creating an environment where all employees can deliver at their best for clients, and continues to make headway in its support and implementation of the UN Sustainable Development Goals.
These strong results come despite challenges including the financial impact of spinning off the firm's former Russian operation, reduced deal flows across markets, and adverse currency and inflationary pressures.
Against this backdrop, Baker McKenzie's core strength as a market leading, full service global law firm has again provided a natural hedge against market uncertainties. The firm saw net income also remain in line with the previous year at $1.2 billion.
Baker McKenzie saw strong growth across several key sectors including manufacturing, healthcare, and energy and infrastructure, as the global energy transition continued to drive activity.
On the practice front, Baker McKenzie saw a robust performance in key areas including Employment & Compensation (6%), Projects (4%), M&A (4%) and Antitrust & Competition (19%), with the firm's transactional teams completing a number of landmark deals*.
From a geographic perspective, we saw substantive growth across the Americas, with North and Latin America each seeing a currency neutral revenue increase of 3.8%, while many of our larger markets elsewhere including the UK, Spain, Switzerland, Singapore and Thailand also performed well.
Commenting on the results, Milton Cheng, Global Chair, Baker McKenzie said:
"Baker McKenzie continues to advise clients on their highly complex transactions and finding solutions to the most challenging legal issues they face. The world's leading companies are today entrusting us with major transformations as they reshape their businesses, and turn to our firm to make sense of an increasingly complex regulatory environment. We value the trust that our clients place in us, based on the years of experience working together on complex matters and business solutions."
Baker McKenzie remains committed to inclusion and diversity, creating an environment where all employees can deliver at their best for clients, and continues to make headway in its support and implementation of the UN Sustainable Development Goals.
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