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Law Firm Rankings: Diversity and Revenues

From opposite sides of the pond come two very different rankings this week of the world's largest law firms.

Minority Law Journal released its annual Diversity Scorecard, which ranks law firms based on the ethnic diversity of their lawyers. At the top of this year's list is Paul, Weiss, Rifkind, Wharton & Garrison, where minorities make up 23 percent of its U.S. attorneys and 9.9 percent of its U.S. partners. Second was Morrison & Foerster, where 22.8 percent of attorneys and 10.2 percent of partners are minorities.

One "not surprising finding" of the survey, comments Monica Bay at The Common Scold, is that "the growing diversity among law firm attorneys seems to correlate positively with the increasing demands from corporate clients that their outside counsel include minority attorneys."

Paul Weiss may lead in diversity, but Clifford Chance leads the world's largest law firms in global revenue, according to a report due out today from the magazine Legal Business. An advance look at the report by way of The Times of London shows Clifford Chance with 2006 revenues of $1.85 million. Rounding out the top 10:

2. Linklaters ($1,683m)
3. Skadden, Arps, Slate, Meagher & Flom ($1,610m)
4. Freshfields Bruckhaus Deringer ($1,587.6m)
5. DLA Piper ($1,542m)
6. Latham & Watkins ($1,412m)
7. Baker & McKenzie ($1,352m)
8. Allen & Overy ($1,324.8m)
9. Jones Day ($1,309m)
10. Sidley Austin ($1,123.9m)

"For followers of Anglo-American rivalry," notes The Times, "there is much food for reflection. On the one hand the London-based names constitute just nine of the top fifty -- all the others are US outfits. On the other hand, though, London firms are clearly top of the pile with four out of the top five spots."

Posted by Robert J. Ambrogi on July 6, 2006 at 02:11 PM | Permalink | Comments (0)

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