Magic circle firm Allen & Overy has reported increased revenue and pre-tax profits in the financial year ending in April, ahead of its $3.5 billion merger with US firm Shearman & Sterling in May.
Freshfields Bruckhaus Deringer LLP has announced that it’ll be increasing the number of trainees it takes on to 100, an increase of more than 35%. This decision indicates that the magic circle firm remains confident in its practice, despite the current difficult economic climate.
London’s leading commercial law firms have reported sharp rises in partner earnings over the past financial year. Average profit per equity partner at major firms, including Linklaters LLP, A&O Shearman, Herbert Smith Freehills Kramer and Macfarlanes LLP, ranged from more than £1.5 million to more than £3 million during 2024/25. The upward trend was echoed at Clifford Chance, where newly filed Companies House accounts revealed the highest-paid partner received more than £7 million.