UK law firms reach six-year records on growth
UK law firms are having a good year, according to research from TheCityUK.
Turnover was up by 8.4 per cent in the year, 2013/14, covered by data from TheCityUK – and the group predicts that 2014/15 revenue will show growth of six per cent.The UK legal sector employs some 310,000 people in London – and also in Belfast and Manchester where service offices have been located by the large law practices. TheCItyUK, a lobbying group, attributes much of the success of the UK to its nature as an international centre of dispute resolution and as a base for international law firms.
Headcount rising
There are some 200 law firms from abroad which have offices in London and other UK cities. The headcount in the top 50 London law firm offices went up 5.5 per cent in 2013/14, reaching 4,624, according to the research. The largest UK law firms are also becoming heavily international themselves – and typically have between 45 and 65 per cent of their lawyers based outside the UK.
Source: Global legal post – UK law firms reach six-year records on growth
