Weekend Wrap: Global firm reports record growth

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Making news this week one of the fastest growing global firms has announced record revenue growth; an Asian legal juggernaut has emerged the top firm in a coveted survey; and the former partner of a major legal firm says “much more work” needs to be done to address mental illness in the industry.
 
International law firm, Clyde & Co reported record revenue growth this financial year, increasing its annual turnover by 13% with a £447.3m turnover.
 
Clyde & Co has opened six new offices in the past 12 months, merging with Scottish firm Simpson & Marwick, Lee & Lyons in Australia and Miami litigation firm Thornton Devis Fein.
 
“One of the strengths of Clyde & Co is the balance of our business across both geographies and sectors and that is reflected again in these results,” chief executive officer Peter Hasson said.
 
Another international law firm, King & Wood Mallesons, has topped the coveted 2016 Acritas Asia Pacific Law Firm Brand Index.
 
Scoring 100 in the study’s brand index, KWM replaced previous leader Baker & McKenzie, which scored 99. The APAC list was compiled by surveying 375 chief legal buyers in the Asia Pacific region and 255 buyers from outside the region with international legal needs within key APAC areas.
 
“Asia is a dynamic, diverse and competitive market, and this ranking makes it clear that our genuine depth and quality in the region is making a real difference to our clients,” said Wang Junfeng, KWM global chairman.
 
Finally, former Herbert Smith Freehills managing partner and current disputes partner Peter Butler has said “much more work” needs to be done to address mental illness in the legal profession.
 
Butler, who has long advocated for improvement of lawyer mental health, helped to establish the Resilience at Law initiative. The initiative has now grown to include over 17 law firms. He admits that while he’s seen a “vast transition” in the industry, mental health is still very much stigmatised.
 
“The odd thing is people feel more awkward talking about mental health type issues to someone who’s affected by issues like depression than they do talking to someone with a sore ankle.  And yet it makes such a big difference,” he said.
 

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