UIDE UIDE UIDE UIDE TO LEADING LAW FIRMS THE AM LAW 100/200 THE GLOBAL 100 THE A-LIST THE CORPORATE SCORECARD

Transcription

1 UIDE TO LEADING LAW FIRMS THE AM LAW 100/200 THE GLOBAL 100 THE A-LIST UIDE THE CORPORATE SCORECARD UIDE ZEUGHAUSER GROUP S 2015 POCKET GUIDE TO THE AMERICAN LAWYER RANKINGS UIDE

2 Dear Clients and Other Friends: We are delighted to present you with The ZGuide to the 2015 Am Law 200 and 2014 Global 100. These lists may be described more accurately as back to the future than as the new normal. Close to 10% of the Am Law 200 comprise an elite group of firms with a significant presence in New York City, nearly all of them predominantly corporate. The next 25% or so are highly successful full-service corporate firms anxious about sustaining and enhancing their ability to compete for top clients, work, and talent. The balance are harder to pigeonhole into one category or another. One could have said the same things about the same lists a quarter-century ago. Perhaps this is unsurprising; the 2015 Am Law 200 lists reflect the return to a healthy U.S economy dominated by healthy large-cap companies and financial institutions. Digging under the numbers, though, little remains the same. Now the top 200 nearly always compete for work on every matter, and costs and fee arrangements are nearly always material drivers of client hiring decisions. Client work commonly spans the globe. What was once a seller s market for first-year associates has been disrupted and, according to some pundits, is ZGuide

3 evaporating. Summer associate programs, once a series of indulgent recruiting events designed to produce high yields, are now real work-a-thons, shrinking in size and, in some instances, disappearing. An army of contract lawyers, augmented with LPOs and e-discovery companies, has replaced brigades of young associates. Fourteen- and fifteen-year tracks to full equity partnership abound. The gap between high-earning and low-earning partners in any given firm is likely double or more what it was a quarter-century ago. The legal industry has been restructured, and it isn t over yet. Perhaps the most stunning event of 2014 was Dacheng Denton s formation of a 6,000-lawyer firm that has proclaimed a growth strategy, which, if achieved, will make it 10,000 lawyers in short order. Suddenly, much of the Am Law 200 seem like Small Law, not Big Law. The next-largest firms in an industry that has been consolidating slowly for nearly three decades seem to have acquired a sense of urgency to get much bigger much more quickly. Size (relative to market) has emerged alongside profitability as a major driver of success, particularly for the nifty fifty occupying the second tier. Stirring the pot, The American Lawyer and Citibank, the granddaddies of law firm rankings and peer group studies, have redefined financial success. The former has introduced profits per lawyer as a new metric, and the latter now is underscoring contribution per lawyer as a key metric. The upshot is that after two decades of the industry simultaneously attacking and embracing profits per equity partner as a key metric of success, the deck has been shuffled. The new metrics have created a new set of winners and losers. More change lies ahead for Big Law. According to McKinsey, there are 8,000 large companies in the world today (companies with over $1 billion in revenue). Over the next ten years, as the rebalancing of the global economy and its shift to Asia comes to fruition, 7,000 new large companies will be added to the mix. Just shy of 5,000 of them will be in emerging economies; almost 3,000 of those will be in China alone. Twenty percent of the Fortune 500 will be in China. Disneyland will open in Shanghai next year. Three hundred and thirty million people will live within a three- hour drive of the new amusement park. Metaphorically, China will be Big Law s new Disneyland. History often predicts the future. In each year s ZGuide, we espouse our belief that market leadership will become a still stronger imperative not just for success, but for sustainability, and that relentless focus on being at the top will be the only solve for surviving the legal industry s crucible of change. We also reiterate the imperative of surpassing the expectations of increasingly sophisticated clients and maintaining high levels of profitability. We underscore those imperatives again here. For firms that achieve market leadership, the opportunities remain boundless. In 2015 we are evermore grateful to our clients, the many Am Law 200 and Global 100 firms that participate in our Chair, COO, and CMO Roundtables, and our many other friends in the industry for your interest in and enduring support of our work. We also want to express our gratitude for your extraordinary contributions of time and money to pro bono representations and to your communities across the globe. You inspire us. We ZGuide ZGuide

4 join all of you in your belief that these contributions are essential underpinnings of your success and the success of the legal system we cherish. We look forward to working with you in choosing, achieving, and sustaining market leadership! Table of Contents Sincerely, Ron Beard Norm Rubenstein Mary K Young R. Bruce McLean Jack Walker Peter Zeughauser Methodology The Am Law 200, The A-List...2 The Am Law 200 Ranked by Profits Per Equity Partner... 4 The Am Law 200 Ranked by Value Per Lawyer Kent Zimmermann ALM Media Properties, LLC and Zeughauser Group, LLC Lonnie Zwerin Chart information reprinted with permission from the April, May, June, August 2015 and October 2014 issues of The American Lawyer (The Am Law 100, The Am Law 200, The Corporate Scorecard, The A-List, and The Global 100) and 2015 ALM Media Properties, LLC Methodology The Global The Global 100 Ranked by Profits Per Equity Partner Methodology The Corporate Scorecard The Corporate Scorecard Mergers and Acquisitions Buyouts U.S. IPOs Equities by U.S. Corporations Investment-Grade Debt High-Yield Debt Project Finance Law Index ZGuide ZGuide 1

5 The Am Law 200 Methodology The Am Law 200 is reported by ALM Media s publications throughout the United States, including The American Lawyer, The Connecticut Law Tribune, Daily Business Review (Miami), Daily Report (Atlanta), The Legal Intelligencer (Philadelphia), The National Law Journal/Legal Times, The New Jersey Law Journal, The Recorder (San Francisco), and Texas Lawyer. Most law firms provide their financials voluntarily for this report, but all data, whether it comes officially from the firm or not, is investigated by reporters. Definitions Gross revenue is fee income from legal work only. It does not include disbursements or income from nonlegal ancillary businesses. Net is compensation paid to equity partners. Equity partners are those who receive no more than half their compensation on a fixed-income basis. Nonequity partners are those who receive more than half their compensation on a fixed-income basis. Retired partners and of counsel are not counted as partners. Lawyer numbers are full-time-equivalent figures for the 2014 calendar year taken from The National Law Journal s most recent NLJ 350 survey. Temp and contract attorneys are not included. Calculations Gross Revenue is rounded to the nearest $500,000. Profits Per Equity Partner, Revenue Per Lawyer, and Compensation Average, All Partners are rounded to the nearest $5,000. Profits Per Equity Partner (PPEP) is calculated by dividing net operating income by the number of equity partners. Revenue Per Lawyer (RPL) is calculated by dividing gross revenue by the number of lawyers. Compensation Average, All Partners, is the net operating income plus fixed-income compensation to nonequity partners divided by the number of equity and nonequity partners. Value Per Lawyer (VPL) is calculated by dividing the net operating income plus fixed-income compensation to nonequity partners by the total number of lawyers. That number is then divided into $10 million to determine how many lawyers it takes to generate that amount. Location of s Some firms are identified as international or national, rather than identifying them by city, according to the percentage of the firm s attorneys in various regions of the country and the percentage who work outside the United States. Those breakouts are obtained from the most recent National Law Journal NLJ 350 survey. If 40 percent or more of the firm s lawyers were located outside the U.S., the firm is identified as international. If no more than 45 percent of the firm s attorneys were located in any one region of the country, the firm is identified as national. Vereins are broken out separately because their organizational structure, particularly regarding profit sharing, differs significantly from that of traditionally structured Am Law firms. The A-List The A-List, comprised of just 20 firms, is determined by rankings in four surveys The American Lawyer s Revenue Per Lawyer (from the Am Law 200), Pro Bono, and Midlevel Associate Surveys, and The Minority Law Journal s Diversity Scorecard. To determine each firm s score, points are doubled for both Revenue Per Lawyer and Pro Bono rankings and then added to the scores for the Midlevel Associate Survey and Diversity Scorecard rankings. Additional information about the A-List is available on americanlawyer.com and in the August 2015 issue of The American Lawyer. u 2 ZGuide ZGuide 3

6 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner Names of firms ranked 101 to 200 on The Am Law 200 are in bold. s noted with a star ( ) are on The American Lawyer's A-List. (See the methodology on pages 2 and 3.) PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Wachtell, Lipton, Rosen & Katz 267 Lawyers, 83 Equity Partners, New York Quinn Emanuel Urquhart & Sullivan 710 Lawyers, 147 Equity Partners, National Paul, Weiss, Rifkind, Wharton & Garrison 943 Lawyers, 135 Equity Partners, New York Sullivan & Cromwell 805 Lawyers, 170 Equity Partners, New York $5,500,000 $702,500, $2,630,000 1 $5,500,000 $4,925,000 $1,103,500, $1,555,000 3 $3,865,000 $3,845,000 $1,036,500, $1,100, $3,845,000 $3,680,000 $1,276,000, $1,585,000 2 $3,680, Irell & Manella 159 Lawyers, 45 Equity Partners, Los Angeles Cahill Gordon & Reindel 327 Lawyers, 62 Equity Partners, New York $3,625,000 $247,500, $1,555,000 3 $3,625,000 $3,615,000 $380,000, $1,165, $3,310, Kirkland & Ellis 1,576 Lawyers, 337 Equity Partners, National Simpson Thacher & Bartlett 929 Lawyers, 187 Equity Partners, New York Cravath, Swaine & Moore 442 Lawyers, 91 Equity Partners, New York Davis Polk & Wardwell 871 Lawyers, 153 Equity Partners, New York $3,510,000 $2,150,000,000 5 $1,365,000 8 $1,870,000 $3,485,000 $1,245,500, $1,340,000 9 $3,485,000 $3,365,000 $648,000, $1,465,000 5 $3,365,000 $3,295,000 $1,072,000, $1,230, $3,295, Cleary Gottlieb Steen & Hamilton 1,178 Lawyers, 185 Equity Partners, International $3,230,000 $1,250,000, $1,060, $3,230, Gibson, Dunn & Crutcher 1,204 Lawyers, 292 Equity Partners, National Boies, Schiller & Flexner 282 Lawyers, 43 Equity Partners, National $3,045,000 $1,466,000, $1,215, $2,725,000 $3,025,000 $345,000, $1,225, $1,590, Skadden, Arps, Slate, Meagher & Flom 1,654 Lawyers, 383 Equity Partners, National $2,905,000 $2,315,000,000 4 $1,400,000 6 $2,905, Latham & Watkins 2,100 Lawyers, 457 Equity Partners, National BuckleySandler 142 Lawyers, 32 Equity Partners, Washington, DC $2,900,000 $2,612,000,000 1 $1,245, $2,350,000 $2,815,000 $155,000, $1,090, $2,815, Milbank, Tweed, Hadley & McCloy 614 Lawyers, 144 Equity Partners, New York Willkie Farr & Gallagher 554 Lawyers, 138 Equity Partners, New York $2,745,000 $761,000, $1,240, $2,645,000 $2,560,000 $640,000, $1,155, $2,560, Weil, Gotshal & Manges 1,072 Lawyers, 171 Equity Partners, National $2,405,000 $1,151,000, $1,075, $1,890, Debevoise & Plimpton 615 Lawyers, 134 Equity Partners, New York $2,380,000 $710,500, $1,155, $2,380,000 4 ZGuide ZGuide 5

7 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Paul Hastings 873 Lawyers, 197 Equity Partners, National King & Spalding 886 Lawyers, 170 Equity Partners, National Dechert 877 Lawyers, 163 Equity Partners, National Schulte Roth & Zabel 351 Lawyers, 84 Equity Partners, New York Cadwalader, Wickersham & Taft 452 Lawyers, 56 Equity Partners, New York $2,360,000 $1,000,500, $1,145, $2,015,000 $2,355,000 $934,000, $1,055, $1,465,000 $2,315,000 $839,500, $955, $1,570,000 $2,315,000 $400,500, $1,140, $2,315,000 $2,210,000 $481,500, $1,065, $1,680, Hughes Hubbard & Reed 332 Lawyers, 77 Equity Partners, New York Proskauer Rose 721 Lawyers, 172 Equity Partners, New York White & Case 1,878 Lawyers, 275 Equity Partners, International Sidley Austin 1,761 Lawyers, 306 Equity Partners, National Kasowitz, Benson, Torres & Friedman 337 Lawyers, 51 Equity Partners, New York $2,145,000 $394,000, $1,185, $1,885,000 $2,100,000 $818,500, $1,135, $1,715,000 $2,005,000 $1,503,000, $800, $1,540,000 $1,990,000 $1,753,500,000 9 $995, $1,280,000 $1,965,000 $263,000, $780, $1,245, Ropes & Gray 1,041 Lawyers, 268 Equity Partners, National Vinson & Elkins 624 Lawyers, 144 Equity Partners, Houston $1,930,000 $1,115,500, $1,070, $1,930,000 $1,925,000 $653,500, $1,045, $1,590, Munger, Tolles & Olson 190 Lawyers, 85 Equity Partners, Los Angeles Wilson Sonsini Goodrich & Rosati 670 Lawyers, 125 Equity Partners, Palo Alto Shearman & Sterling 821 Lawyers, 157 Equity Partners, International $1,910,000 $266,000, $1,400,000 6 $1,910,000 $1,910,000 $646,000, $965, $1,600,000 $1,905,000 $845,000, $1,030, $1,715, Akin Gump Strauss Hauer & Feld 822 Lawyers, 189 Equity Partners, National Fragomen, Del Rey, Bernsen & Loewy 469 Lawyers, 62 Equity Partners, International Fried, Frank, Harris, Shriver & Jacobson 414 Lawyers, 107 Equity Partners, New York Kramer Levin Naftalis & Frankel 308 Lawyers, 67 Equity Partners, New York Choate Hall & Stewart 157 Lawyers, 59 Equity Partners, Boston $1,885,000 $868,000, $1,055, $1,455,000 $1,835,000 $441,000, $940, $1,355,000 $1,815,000 $460,000, $1,110, $1,670,000 $1,815,000 $320,500, $1,040, $1,525,000 $1,810,000 $194,500, $1,240, $1,445,000 6 ZGuide ZGuide 7

8 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 1 Census numbers and financials do not include the lawyers who joined Morgan, Lewis & Bockius from the former Bingham McCutchen in late November. PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Goodwin Procter 755 Lawyers, 189 Equity Partners, Boston Cooley 755 Lawyers, 176 Equity Partners, Palo Alto Baker Botts 694 Lawyers, 176 Equity Partners, Houston Winston & Strawn 808 Lawyers, 158 Equity Partners, National Jeffer Mangels Butler & Mitchell 128 Lawyers, 39 Equity Partners, Los Angeles $1,745,000 $785,500, $1,040, $1,305,000 $1,735,000 $802,000, $1,060, $1,415,000 $1,700,000 $653,000, $940, $1,260,000 $1,685,000 $785,500, $970, $1,090,000 $1,640,000 $107,000, $835, $1,020, Patterson Belknap Webb & Tyler 179 Lawyers, 48 Equity Partners, New York Jenner & Block 401 Lawyers, 105 Equity Partners, Chicago Curtis, Mallet-Prevost, Colt & Mosle 311 Lawyers, 26 Equity Partners, International Morgan, Lewis & Bockius 1 1,338 Lawyers, 360 Equity Partners, National $1,625,000 $189,000, $1,055, $1,610,000 $1,615,000 $408,000, $1,015, $1,110,000 $1,610,000 $187,000, $600, $910,000 $1,610,000 $1,317,000, $985, $1,345, Wilmer Cutler Pickering Hale and Dorr 926 Lawyers, 286 Equity Partners, National $1,605,000 $1,071,000, $1,155, $1,605, O Melveny & Myers 663 Lawyers, 169 Equity Partners, National $1,595,000 $665,000, $1,005, $1,540, Orrick, Herrington & Sutcliffe 891 Lawyers, 141 Equity Partners, National Alston & Bird 759 Lawyers, 146 Equity Partners, Atlanta Fenwick & West 288 Lawyers, 85 Equity Partners, Mountain View, CA McDermott Will & Emery 997 Lawyers, 203 Equity Partners, National $1,595,000 $877,000, $985, $1,110,000 $1,545,000 $645,500, $850, $940,000 $1,540,000 $327,000, $1,135, $1,410,000 $1,530,000 $900,000, $900, $850, Williams & Connolly 307 Lawyers, 118 Equity Partners, Washington, DC Loeb & Loeb 271 Lawyers, 42 Equity Partners, National DLA Piper 3,702 Lawyers, 448 Equity Partners, Verein Mayer Brown 1,486 Lawyers, 280 Equity Partners, International Greenberg Traurig 1,730 Lawyers, 299 Equity Partners, National $1,515,000 $399,000, $1,300, $1,515,000 $1,505,000 $245,500, $905, $755,000 $1,490,000 $2,480,500,000 3 $670, $835,000 $1,450,000 $1,223,000, $825, $825,000 $1,425,000 $1,270,500, $735, $765,000 8 ZGuide ZGuide 9

9 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 2 Bingham McCutchen ceased operations in December PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Morrison & Foerster 988 Lawyers, 261 Equity Partners, National Kaye Scholer 368 Lawyers, 99 Equity Partners, New York Katten Muchin Rosenman 632 Lawyers, 146 Equity Partners, National Arnold & Porter 699 Lawyers, 233 Equity Partners, Washington, DC Brown Rudnick 203 Lawyers, 59 Equity Partners, National Lowenstein Sandler 275 Lawyers, 48 Equity Partners, Roseland, NJ Sheppard, Mullin, Richter & Hampton 584 Lawyers, 114 Equity Partners, Los Angeles Covington & Burling 774 Lawyers, 248 Equity Partners, Washington, DC Bingham McCutchen Lawyers, 130 Equity Partners, National Bracewell & Giuliani 450 Lawyers, 79 Equity Partners, Houston Baker & McKenzie 4,245 Lawyers, 705 Equity Partners, Verein Manatt, Phelps & Phillips 336 Lawyers, 60 Equity Partners, Los Angeles Stroock & Stroock & Lavan 280 Lawyers, 91 Equity Partners, New York Finnegan, Henderson, Farabow, Garrett & Dunner 314 Lawyers, 101 Equity Partners, Washington, DC Hogan Lovells 2,360 Lawyers, 509 Equity Partners, Verein Robins, Kaplan, Miller & Ciresi 213 Lawyers, 74 Equity Partners, Minneapolis Fish & Richardson 345 Lawyers, 105 Equity Partners, National Andrews Kurth 337 Lawyers, 87 Equity Partners, Houston Reed Smith 1,638 Lawyers, 302 Equity Partners, National Stevens & Lee 151 Lawyers, 47 Equity Partners, Reading, PA $1,415,000 $968,500, $980, $1,205,000 $1,410,000 $375,000, $1,020, $1,260,000 $1,395,000 $537,500, $850, $850,000 $1,385,000 $694,500, $995, $1,385,000 $1,385,000 $191,500, $945, $1,025,000 $1,365,000 $229,500, $835, $925,000 $1,365,000 $510,500, $875, $890,000 $1,335,000 $709,000, $915, $1,335,000 $1,330,000 $665,000, $930, $885,000 $1,330,000 $337,500, $750, $795,000 $1,290,000 $2,540,000,000 2 $600, $870,000 $1,245,000 $303,000, $900, $630,000 $1,230,000 $260,500, $930, $1,230,000 $1,220,000 $309,000, $985, $1,040,000 $1,215,000 $1,779,500,000 8 $755, $965,000 $1,215,000 $210,000, $985, $1,110,000 $1,210,000 $357,500, $1,035, $885,000 $1,205,000 $307,000, $910, $850,000 $1,205,000 $1,152,000, $705, $750,000 $1,180,000 $108,500, $720, $730, ZGuide ZGuide 11

10 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 3 Fiscal year ends on March 31. Results are projected in order to meet The Am Law 100 s publication deadline. 4 Locke Lord merged with Edwards Wildman Palmer in January Results are for the legacy operation only. PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Pillsbury Winthrop Shaw Pittman 591 Lawyers, 165 Equity Partners, National Holland & Knight 1,009 Lawyers, 172 Equity Partners, National Chadbourne & Parke 345 Lawyers, 68 Equity Partners, New York Wiley Rein 267 Lawyers, 75 Equity Partners, Washington, DC Foley Hoag 229 Lawyers, 50 Equity Partners, Boston Perkins Coie 913 Lawyers, 181 Equity Partners, Seattle Foley & Lardner 849 Lawyers, 153 Equity Partners, National Crowell & Moring 450 Lawyers, 97 Equity Partners, Washington, DC Chapman and Cutler 238 Lawyers, 100 Equity Partners, Chicago Dickstein Shapiro 200 Lawyers, 42 Equity Partners, Washington, DC Hunton & Williams Lawyers, 212 Equity Partners, National Sutherland Asbill & Brennan 395 Lawyers, 90 Equity Partners, National Locke Lord Lawyers, 160 Equity Partners, Dallas McElroy, Deutsch, Mulvaney & Carpenter 260 Lawyers, 32 Equity Partners, Morristown, NJ Venable 564 Lawyers, 163 Equity Partners, National Morris, Manning & Martin 156 Lawyers, 44 Equity Partners, Atlanta McGuireWoods 939 Lawyers, 182 Equity Partners, Richmond Winstead 312 Lawyers, 108 Equity Partners, Dallas Mintz, Levin, Cohn, Ferris, Glovsky and Popeo Lawyers, 61 Equity Partners, Boston Pepper Hamilton 508 Lawyers, 139 Equity Partners, Philadelphia $1,165,000 $560,000, $950, $880,000 $1,135,000 $688,500, $680, $650,000 $1,110,000 $254,500, $735, $880,000 $1,105,000 $224,500, $840, $975,000 $1,100,000 $174,000, $760, $755,000 $1,095,000 $710,000, $780, $725,000 $1,065,000 $665,000, $785, $675,000 $1,030,000 $368,500, $820, $745,000 $1,015,000 $195,500, $820, $810,000 $1,010,000 $192,000, $960, $700,000 $1,000,000 $568,000, $805, $805,000 $990,000 $300,500, $760, $700,000 $970,000 $426,500, $740, $690,000 $970,000 $120,000, $460, $485,000 $970,000 $442,000, $785, $735,000 $965,000 $113,500, $725, $730,000 $960,000 $620,000, $660, $660,000 $960,000 $204,500, $655, $700,000 $955,000 $316,000, $760, $605,000 $945,000 $384,500, $755, $750, ZGuide ZGuide 13

11 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 5 Squire Sanders merged with Patton Boggs in June 2014 to form Squire Patton Boggs, so there is no year-over-year comparison. 6 Carlton Fields and Jorden Burt merged in January 2014 to form Carlton Fields Jorden Burt, so there is no year-over-year comparison. 7 In April, McKenna Long & Aldridge announced that it was joining the Dentons verein. Results are for the legacy operation only. PPEP Rank 2015 PPEP Rank Lawyers, Partners, Location Seyfarth Shaw 772 Lawyers, 195 Equity Partners, National Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners $940,000 $555,000, $720, $630, Arent Fox 346 Lawyers, 105 Equity Partners, Washington, DC Jones Day 2,510 Lawyers, 933 Equity Partners, National Kilpatrick Townsend & Stockton 571 Lawyers, 111 Equity Partners, Atlanta Moore & Van Allen 276 Lawyers, 80 Equity Partners, Charlotte Jackson Walker 328 Lawyers, 91 Equity Partners, Dallas Steptoe & Johnson 385 Lawyers, 128 Equity Partners, Washington, DC Duane Morris 620 Lawyers, 122 Equity Partners, National Haynes and Boone 502 Lawyers, 129 Equity Partners, Dallas Thompson & Knight 281 Lawyers, 90 Equity Partners, Dallas Allen Matkins Leck Gamble Mallory & Natsis 173 Lawyers, 96 Equity Partners, Los Angeles Squire Patton Boggs5 1,356 Lawyers, 154 Equity Partners, Verein Barnes & Thornburg 517 Lawyers, 214 Equity Partners, Indianapolis Brownstein Hyatt Farber Schreck 225 Lawyers, 66 Equity Partners, Denver Carlton Fields Jorden Burt6 339 Lawyers, 74 Equity Partners, Miami Gibbons 193 Lawyers, 31 Equity Partners, Newark K&L Gates 1,952 Lawyers, 252 Equity Partners, National Blank Rome 472 Lawyers, 117 Equity Partners, Philadelphia McKenna Long & Aldridge Lawyers, 70 Equity Partners, National Vedder Price 286 Lawyers, 132 Equity Partners, Chicago $935,000 $276,500, $800, $720,000 $930,000 $1,850,000,000 6 $735, $930,000 $925,000 $411,500, $720, $655,000 $920,000 $181,000, $655, $620,000 $915,000 $214,500, $655, $570,000 $910,000 $352,500, $915, $910,000 $900,000 $428,000, $690, $560,000 $855,000 $339,000, $675, $695,000 $855,000 $201,500, $720, $655,000 $850,000 $152,500, $880, $815,000 $840,000 $870,500, $640, $525,000 $835,000 $346,000, $670, $645,000 $830,000 $166,000, $735, $605,000 $830,000 $215,500, $635, $515,000 $830,000 $110,000, $570, $485,000 $830,000 $1,145,500, $585, $475,000 $825,000 $331,000, $700, $600,000 $825,000 $305,000, $670, $515,000 $825,000 $224,500, $785, $765, ZGuide ZGuide 15

12 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 8 Gordon & Rees changed its name to Gordon Rees Scully Mansukhani in January PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Honigman Miller Schwartz and Cohn 230 Lawyers, 127 Equity Partners, Detroit Snell & Wilmer 406 Lawyers, 81 Equity Partners, Phoenix Bryan Cave 977 Lawyers, 214 Equity Partners, National Baker & Hostetler 878 Lawyers, 171 Equity Partners, National Schiff Hardin 324 Lawyers, 96 Equity Partners, Chicago Gardere Wynne Sewell 219 Lawyers, 62 Equity Partners, Dallas Shook, Hardy & Bacon 458 Lawyers, 126 Equity Partners, Kansas City, MO Troutman Sanders 593 Lawyers, 197 Equity Partners, Atlanta Kelley Drye & Warren 277 Lawyers, 84 Equity Partners, National Faegre Baker Daniels 672 Lawyers, 239 Equity Partners, Minneapolis Fitzpatrick, Cella, Harper & Scinto 153 Lawyers, 51 Equity Partners, New York Nixon Peabody 573 Lawyers, 145 Equity Partners, National Cozen O Connor 502 Lawyers, 146 Equity Partners, National Goulston & Storrs 167 Lawyers, 97 Equity Partners, Boston Gordon Rees Scully Mansukhani Lawyers, 38 Equity Partners, San Diego Drinker Biddle & Reath 553 Lawyers, 176 Equity Partners, Philadelphia Armstrong Teasdale 221 Lawyers, 78 Equity Partners, St. Louis Sullivan & Worcester 156 Lawyers, 40 Equity Partners, Boston Shutts & Bowen 235 Lawyers, 82 Equity Partners, Miami Day Pitney 255 Lawyers, 91 Equity Partners, Hartford $820,000 $196,000, $850, $715,000 $820,000 $253,000, $625, $600,000 $815,000 $635,500, $650, $620,000 $810,000 $579,000, $660, $610,000 $810,000 $241,000, $745, $580,000 $805,000 $143,000, $655, $565,000 $805,000 $316,000, $690, $620,000 $805,000 $422,500, $715, $665,000 $780,000 $216,000, $780, $645,000 $770,000 $456,500, $680, $635,000 $765,000 $104,000, $680, $765,000 $760,000 $407,000, $710, $545,000 $740,000 $313,000, $625, $540,000 $740,000 $139,000, $830, $740,000 $735,000 $246,500, $490, $315,000 $720,000 $381,000, $690, $615,000 $715,000 $115,000, $520, $740,000 $705,000 $103,000, $660, $535,000 $700,000 $136,500, $580, $450,000 $690,000 $150,500, $590, $1,025, ZGuide ZGuide 17

13 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 9 Fiscal year ends on March 31. Results are projected in order to meet The Am Law 100 s publication deadline. 10 Edwards Wildman Palmer merged with Locke Lord in January Results are for the legacy operation only. PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Nelson Mullins Riley & Scarborough 500 Lawyers, 155 Equity Partners, Columbia, SC Kenyon & Kenyon 146 Lawyers, 41 Equity Partners, New York Bradley Arant Boult Cummings 430 Lawyers, 204 Equity Partners, Birmingham Buchanan Ingersoll & Rooney 466 Lawyers, 115 Equity Partners, Pittsburgh Lewis Brisbois Bisgaard & Smith 891 Lawyers, 103 Equity Partners, Los Angeles Hinckley, Allen & Snyder 145 Lawyers, 49 Equity Partners, Boston Polsinelli 693 Lawyers, 112 Equity Partners, Kansas City, MO Smith, Gambrell & Russell 184 Lawyers, 49 Equity Partners, Atlanta Womble Carlyle Sandridge & Rice 494 Lawyers, 159 Equity Partners, Winston-Salem, NC Herrick, Feinstein 136 Lawyers, 34 Equity Partners, New York Akerman 548 Lawyers, 188 Equity Partners, Miami Fox Rothschild Lawyers, 166 Equity Partners, Philadelphia McCarter & English 373 Lawyers, 87 Equity Partners, Newark Norton Rose Fulbright 3,461 Lawyers, 944 Equity Partners, Verein Edwards Wildman Palmer Lawyers, 66 Equity Partners, Boston Ogletree, Deakins, Nash, Smoak & Stewart 701 Lawyers, 151 Equity Partners, Los Angeles Wilson Elser Moskowitz Edelman & Dicker 745 Lawyers, 148 Equity Partners, National Dorsey & Whitney 500 Lawyers, 191 Equity Partners, National Ice Miller 278 Lawyers, 122 Equity Partners, Indianapolis Jackson Lewis 751 Lawyers, 225 Equity Partners, National $690,000 $298,000, $595, $485,000 $680,000 $108,000, $740, $635,000 $675,000 $250,500, $585, $590,000 $670,000 $296,000, $635, $495,000 $670,000 $364,000, $410, $365,000 $660,000 $96,500, $665, $470,000 $650,000 $368,000, $530, $415,000 $650,000 $90,500, $495, $425,000 $650,000 $296,500, $600, $460,000 $645,000 $105,500, $775, $500,000 $640,000 $324,000, $590, $530,000 $640,000 $331,500, $590, $540,000 $630,000 $219,500, $590, $435,000 $625,000 $1,814,000,000 7 $525, $595,000 $620,000 $292,000, $585, $390,000 $615,000 $373,000, $530, $410,000 $615,000 $303,000, $405, $460,000 $605,000 $338,500, $675, $535,000 $605,000 $157,500, $565, $510,000 $605,000 $390,500, $520, $445, ZGuide ZGuide 19

14 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 11 Stinson Morrison Hecker and Leonard, Street and Deinard merged in January 2014, so there is no year-to-year comparison. PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Thompson Hine 358 Lawyers, 102 Equity Partners, Cleveland Porter Wright Morris & Arthur 209 Lawyers, 75 Equity Partners, Columbus Saul Ewing 245 Lawyers, 82 Equity Partners, Philadelphia Ballard Spahr 497 Lawyers, 231 Equity Partners, Philadelphia Sedgwick 311 Lawyers, 58 Equity Partners, San Francisco Dykema Gossett 334 Lawyers, 70 Equity Partners, Chicago Thompson Coburn 341 Lawyers, 152 Equity Partners, St. Louis Stoel Rives 349 Lawyers, 122 Equity Partners, Portland, OR Husch Blackwell 517 Lawyers, 143 Equity Partners, St. Louis Davis Wright Tremaine 473 Lawyers, 185 Equity Partners, Seattle $600,000 $204,500, $570, $465,000 $575,000 $123,000, $590, $415,000 $575,000 $148,000, $605, $475,000 $570,000 $312,000, $630, $570,000 $565,000 $190,000, $610, $440,000 $560,000 $178,500, $535, $390,000 $560,000 $198,000, $580, $450,000 $555,000 $205,000, $585, $455,000 $545,000 $289,000, $560, $405,000 $540,000 $285,000, $605, $455, Stinson Leonard Street Lawyers, 182 Equity Partners, Minneapolis Adams and Reese 299 Lawyers, 122 Equity Partners, New Orleans Michael Best & Friedrich 197 Lawyers, 78 Equity Partners, Milwaukee Baker, Donelson, Bearman, Caldwell & Berkowitz 616 Lawyers, 210 Equity Partners, Memphis Fisher & Phillips 275 Lawyers, 118 Equity Partners, National Hinshaw & Culbertson 459 Lawyers, 106 Equity Partners, Chicago Littler Mendelson 1,088 Lawyers, 370 Equity Partners, National Dickinson Wright 349 Lawyers, 117 Equity Partners, Troy, MI Clark Hill 295 Lawyers, 81 Equity Partners, Detroit Knobbe, Martens, Olson & Bear 275 Lawyers, 141 Equity Partners, Irvine, CA $540,000 $259,000, $565, $415,000 $525,000 $157,000, $525, $420,000 $525,000 $114,000, $580, $415,000 $520,000 $318,500, $515, $455,000 $515,000 $148,000, $540, $450,000 $515,000 $209,000, $455, $340,000 $515,000 $543,500, $500, $440,000 $510,000 $172,000, $495, $390,000 $500,000 $135,000, $460, $395,000 $500,000 $195,000, $710, $490, ZGuide ZGuide 21

15 The Am Law 200 The Largest s in the U.S., Ranked By Profits Per Equity Partner 12 Dentons joined with Dacheng in January 2015 to form the Dacheng Dentons verein. Results are for the legacy operation only. PPEP Rank 2015 PPEP Rank 2014 Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Am Law 200 Rank Revenue Per Lawyer RPL Rank Compensation Average, All Partners Robinson & Cole 193 Lawyers, 70 Equity Partners, Hartford Dentons 12 2,285 Lawyers, 484 Equity Partners, Decentralized (Verein) Lewis Roca Rothgerber 222 Lawyers, 100 Equity Partners, Phoenix Vorys, Sater, Seymour and Pease 366 Lawyers, 150 Equity Partners, Columbus Burr & Forman 258 Lawyers, 115 Equity Partners, Birmingham Frost Brown Todd 429 Lawyers, 163 Equity Partners, Cincinnati Holland & Hart 436 Lawyers, 211 Equity Partners, Denver Lathrop & Gage 289 Lawyers, 75 Equity Partners, Kansas City, MO Miller, Canfield, Paddock and Stone 227 Lawyers, 75 Equity Partners, Detroit Dinsmore & Shohl 443 Lawyers, 137 Equity Partners, Cincinnati Phelps Dunbar 251 Lawyers, 108 Equity Partners, New Orleans Greenspoon Marder 147 Lawyers, 70 Equity Partners, Fort Lauderdale Quarles & Brady 438 Lawyers, 172 Equity Partners, Milwaukee GrayRobinson 284 Lawyers, 153 Equity Partners, Orlando Shumaker, Loop & Kendrick 224 Lawyers, 112 Equity Partners, Tampa Kutak Rock 473 Lawyers, 222 Equity Partners, National Lane Powell 151 Lawyers, 65 Equity Partners, Seattle Williams Mullen 217 Lawyers, 73 Equity Partners, Richmond Strasburger & Price 211 Lawyers, 70 Equity Partners, Dallas LeClairRyan 339 Lawyers, 143 Equity Partners, National $500,000 $106,000, $550, $465,000 $495,000 $1,275,000, $560, $380,000 $495,000 $122,500, $555, $420,000 $485,000 $179,000, $490, $445,000 $480,000 $127,000, $495, $415,000 $475,000 $204,000, $475, $370,000 $475,000 $234,500, $540, $465,000 $475,000 $147,500, $510, $345,000 $470,000 $112,000, $495, $370,000 $455,000 $195,500, $440, $355,000 $450,000 $114,000, $455, $450,000 $445,000 $93,500, $635, $445,000 $445,000 $237,500, $540, $390,000 $440,000 $142,000, $500, $410,000 $440,000 $108,500, $485, $385,000 $430,000 $205,000, $435, $385,000 $415,000 $91,000, $600, $365,000 $415,000 $107,000, $495, $405,000 $385,000 $99,000, $470, $320,000 $370,000 $150,500, $445, $290, ZGuide ZGuide 23

16 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer s noted with a star ( ) are on The American Lawyer's A-List. (See the methodology on pages 2 and 3.) Names of firms ranked 101 to 200 on The Am Law 200 are in bold. See headnotes on the chart ranking firms by Profits Per Equity Partner for information about changes in firms' status in 2014/ VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 1 Wachtell, Lipton, Rosen & Katz $1,710, Davis Polk & Wardwell $580, Quinn Emanuel Urquhart & Sullivan $1,090, Hughes Hubbard & Reed $570, Irell & Manella $1,025, Proskauer Rose $565, Kirkland & Ellis $870, King & Spalding $560, Munger, Tolles & Olson $855, Schulte Roth & Zabel $555, Sullivan & Cromwell $775, Vinson & Elkins $555, Choate Hall & Stewart $755, Paul, Weiss, Rifkind, Wharton & Garrison $550, Gibson, Dunn & Crutcher $755, Akin Gump Strauss Hauer & Feld $540, Cahill Gordon & Reindel $710, Honigman Miller Schwartz and Cohn $540, Latham & Watkins $710, Goodwin Procter $525, Simpson Thacher & Bartlett $700, Brown Rudnick $520, Cravath, Swaine & Moore $690, Debevoise & Plimpton $520, Skadden, Arps, Slate, Meagher & Flom $670, Jenner & Block $520, Milbank, Tweed, Hadley & McCloy $655, Dechert $515, Jeffer Mangels Butler & Mitchell $645, Kramer Levin Naftalis & Frankel $515, BuckleySandler $635, Baker Botts $510, Willkie Farr & Gallagher $635, Allen Matkins Leck Gamble Mallory & Natsis $505, Boies, Schiller & Flexner $630, Cleary Gottlieb Steen & Hamilton $505, Paul Hastings $620, Day Pitney $495, Williams & Connolly $585, Ropes & Gray $495, ZGuide ZGuide 25

17 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Millioni 39 Sidley Austin $495, Katten Muchin Rosenman $435, Stevens & Lee $495, Sheppard, Mullin, Richter & Hampton $435, Weil, Gotshal & Manges $495, Vedder Price $435, Wilmer Cutler Pickering Hale and Dorr $495, Goulston & Storrs $430, Fried, Frank, Harris, Shriver & Jacobson $490, Wilson Sonsini Goodrich & Rosati $430, McDermott Will & Emery $490, Barnes & Thornburg $425, Morgan, Lewis & Bockius $490, Covington & Burling $425, Wiley Rein $490, Finnegan, Henderson, Farabow, Garrett & Dunner $425, Chapman and Cutler $480, Morrison & Foerster $425, Fenwick & West $480, Kaye Scholer $420, Cooley $470, O Melveny & Myers $420, Winston & Strawn $470, Alston & Bird $410, Arnold & Porter $460, Greenberg Traurig $405, Pillsbury Winthrop Shaw Pittman $460, Shearman & Sterling $400, Andrews Kurth $455, Stroock & Stroock & Lavan $400, Armstrong Teasdale $455, Jackson Walker $390, Fish & Richardson $450, Morris, Manning & Martin $385, Patterson Belknap Webb & Tyler $450, Orrick, Herrington & Sutcliffe $385, Robins, Kaplan, Miller & Ciresi $450, Cadwalader, Wickersham & Taft $380, Loeb & Loeb $440, Manatt, Phelps & Phillips $380, ZGuide ZGuide 27

18 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 81 Bracewell & Giuliani $375, Gardere Wynne Sewell $340, Kasowitz, Benson, Torres & Friedman $375, Shutts & Bowen $340, Winstead $375, Bingham McCutchen $335, Hunton & Williams $370, Mayer Brown $335, Locke Lord $365, Foley & Lardner $330, Lowenstein Sandler $365, Pepper Hamilton $330, Arent Fox $360, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo $325, Brownstein Hyatt Farber Schreck $360, Sutherland Asbill & Brennan $325, Moore & Van Allen $360, Troutman Sanders $325, Perkins Coie $360, Dickstein Shapiro $320, Thompson & Knight $360, Hogan Lovells $320, Bradley Arant Boult Cummings $350, Reed Smith $320, Carlton Fields Jorden Burt $350, Hinckley, Allen & Snyder $315, Foley Hoag $350, Ice Miller $315, Schiff Hardin $350, Thompson Coburn $315, Venable $350, Crowell & Moring $310, Holland & Knight $345, Duane Morris $310, Jones Day $345, Snell & Wilmer $310, White & Case $345, Steptoe & Johnson $305, Faegre Baker Daniels $340, Womble Carlyle Sandridge & Rice $305, ZGuide ZGuide 29

19 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 121 Seyfarth Shaw $300, Akerman $270, Baker & McKenzie $295, Davis Wright Tremaine $270, Blank Rome $295, Dorsey & Whitney $270, Haynes and Boone $295, Michael Best & Friedrich $270, Nelson Mullins Riley & Scarborough $295, Ballard Spahr $265, Cozen O Connor $290, Gibbons $265, McGuireWoods $290, Saul Ewing $265, Nixon Peabody $285, GrayRobinson $260, Baker & Hostetler $280, Knobbe, Martens, Olson & Bear $260, DLA Piper $280, Bryan Cave $255, Fragomen, Del Rey, Bernsen & Loewy $280, Chadbourne & Parke $255, Kilpatrick Townsend & Stockton $280, Dickinson Wright $255, Stinson Leonard Street $280, Fisher & Phillips $255, Stoel Rives $280, Fitzpatrick, Cella, Harper & Scinto $255, Drinker Biddle & Reath $275, Herrick, Feinstein $255, Kelley Drye & Warren $275, Lewis Roca Rothgerber $255, Shook, Hardy & Bacon $275, Porter Wright Morris & Arthur $250, Shumaker, Loop & Kendrick $275, Smith, Gambrell & Russell $250, Sullivan & Worcester $275, Thompson Hine $250, Adams and Reese $270, Buchanan Ingersoll & Rooney $245, ZGuide ZGuide 31

20 Value Per Lawyer The Am Law 200, Ranked By Value Per Lawyer 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 2015 VPL Rank VPL: Partner Comp/ Number of Lawyers, FY 2014 Lawyers Needed to Generate $10 Million 160 Frost Brown Todd $245, Kenyon & Kenyon $215, Jackson Lewis $245, Miller, Canfield, Paddock and Stone $215, Lane Powell $245, Vorys, Sater, Seymour and Pease $215, Polsinelli $245, Greenspoon Marder $210, Burr & Forman $240, LeClairRyan $205, Holland & Hart $240, Littler Mendelson $205, Husch Blackwell $240, Norton Rose Fulbright $205, McKenna Long & Aldridge $240, Clark Hill $200, Quarles & Brady $240, McElroy, Deutsch, Mulvaney & Carpenter $200, Kutak Rock $235, Wilson Elser Moskowitz Edelman & Dicker $200, Fox Rothschild $230, Dinsmore & Shohl $195, K&L Gates $230, Phelps Dunbar $195, Lewis Brisbois Bisgaard & Smith $230, Strasburger & Price $195, McCarter & English $230, Lathrop & Gage $190, Baker, Donelson, Bearman, Caldwell & Berkowitz $225, Edwards Wildman Palmer $175, Hinshaw & Culbertson $225, Squire Patton Boggs $175, Robinson & Cole $225, Dentons $165, Dykema Gossett $220, Sedgwick $160, Ogletree, Deakins, Nash, Smoak & Stewart $220, Williams Mullen $155, Curtis, Mallet-Prevost, Colt & Mosle $215, Gordon Rees Scully Mansukhani $150, ZGuide ZGuide 33

21 The Global 100 Methodology The Global 100 charts rank the world s largest law firms by profits per equity partner, revenue, and head count. The charts, which include data for the fiscal year most recently published by ALM, were published in the October 2014 issue of The American Lawyer. Although foreign law firms differ in structure from U.S. law firms, The American Lawyer took steps to level the playing field. Currency conversion rates for non-u.s. firms (except vereins) are based on the annual average conversion rate of 2014 published by the U.S. Federal Reserve. A total of 123 firms were included on the global charts. Profits Per Equity Partner s are ranked by Profits Per Equity Partner (PPEP). PPEP figures were rounded to the nearest $5,000 and were obtained from the same sources that provided the revenue figures. Only firms included in the Gross Revenue or Number of Lawyers rankings were considered for PPEP ranking. Gross Revenue The firms ranked by Gross Revenue are the world s 100 highest-grossing law firms. Revenue figures are rounded to the nearest $500,000. Financial information for U.S.- based law firms is obtained from The American Lawyer s The Am Law 100 report. All other firms were surveyed directly. Number of Lawyers The ranking in the last column of the Global 100 chart is based on the average number of full-time-equivalent lawyers at the firm. The firms on this chart are the world s 100 largest. Location of s s are identified as international if 40 percent or more of their lawyers work outside their home country. s identified as national have no more than 45 percent of their lawyers located in one region of their home country. The home country designation of international, verein, and EEIG firms is based on which country contains the most lawyers. The geographic breakdown comes from the most recent National Law Journal survey of the 350 largest U.S. firms (the NLJ 350), or from the firms directly if they are not included in that report. Vereins and European Economic Interest Groups (EEIGs) differ structurally from other Global 100 firms, especially in regard to profit sharing. u 34 ZGuide ZGuide 35

22 The Global 100 The World s Largest s, Ranked By Profits Per Equity Partner 2014 Global 100 PPEP Rank Lawyers, Partners, Location Profits Per Equity Partner Gross Revenue Global 100 Rank By Revenue Revenue Per Lawyer Global 100 Rank By Lawyers Wachtell, Lipton, Rosen & Katz 260 Lawyers, 81 Equity Partners, New York Quinn Emanuel Urquhart & Sullivan 673 Lawyers, 133 Equity Partners, Los Angeles Cahill Gordon & Reindel 322 Lawyers, 62 Equity Partners, New York Sullivan & Cromwell 804 Lawyers, 172 Equity Partners, New York Paul, Weiss, Rifkind, Wharton & Garrison 854 Lawyers, 131 Equity Partners, New York Cravath, Swaine & Moore 430 Lawyers, 86 Equity Partners, New York Kirkland & Ellis 1,554 Lawyers, 334 Equity Partners, Chicago Simpson Thacher & Bartlett 835 Lawyers, 185 Equity Partners, New York Gibson, Dunn & Crutcher 1,154 Lawyers, 290 Equity Partners, Los Angeles Slaughter and May 516 Lawyers, 112 Equity Partners, London Davis Polk & Wardwell 810 Lawyers, 153 Equity Partners, New York Cleary Gottlieb Steen & Hamilton 1,192 Lawyers, 194 Equity Partners, New York Skadden, Arps, Slate, Meagher & Flom 1,664 Lawyers, 399 Equity Partners, New York Cadwalader, Wickersham & Taft 437 Lawyers, 56 Equity Partners, New York Milbank, Tweed, Hadley & McCloy 592 Lawyers, 137 Equity Partners, New York Latham & Watkins 2,060 Lawyers, 441 Equity Partners, Los Angeles Debevoise & Plimpton 595 Lawyers, 138 Equity Partners, New York Willkie Farr & Gallagher 526 Lawyers, 132 Equity Partners, New York Schulte Roth & Zabel 346 Lawyers, 84 Equity Partners, New York Paul Hastings 889 Lawyers, 198 Equity Partners, Los Angeles $4,755,000 $601,000, $2,310,000 $4,485,000 $972,500, $1,445, $3,780,000 $386,500, $1,200,000 $3,675,000 $1,278,000, $1,590, $3,620,000 $934,500, $1,095, $3,290,000 $614,000, $1,430,000 $3,280,000 $2,016,000,000 6 $1,295, $3,165,000 $1,128,500, $1,350, $2,945,000 $1,386,500, $1,200, $2,945,000 $645,500, $1,250,000 $2,940,000 $975,000, $1,205, $2,875,000 $1,190,000, $1,000, $2,730,000 $2,235,000,000 4 $1,345, $2,610,000 $481,500, $1,100,000 $2,565,000 $706,000, $1,195,000 $2,490,000 $2,285,000,000 3 $1,110, $2,310,000 $688,000, $1,155,000 $2,235,000 $559,000, $1,065,000 $2,215,000 $389,000, $1,125,000 $2,175,000 $941,000, $1,060, ZGuide ZGuide 37