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Tuesday, April 16, 2024

Baker McKenzie, DLA Piper, most valued law firms  globally

The twelfth edition of the Global Elite Law Firm Brand Index by Thomson Reuters also highlights Clifford Chance, Dentons, Norton Rose Fulbright, among the five top ones

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Once again, Baker McKenzie and DLA Piper rank as the most valuable brands in the international market, although there is still a notable difference of 56 points between the first brand and the second. Clifford Chance climbs to third place with an index of 40, followed by Dentons with 37. The top five is rounded off by Norton Rose Fulbright with an index of 32.

Skadden, King & Wood Mallesons and Latham & Watkins have entered the top ten brands. Of particular note is CMS, which increased its valuation by 63% to climb to 13th place in the list. Latham & Watkins (+51%), Skadden (+44%) and Gibson Dunn (42%) also saw a significant jump in brand value. We can also find firms like Freshfields (12th), Herbert Smith Freehills ranking 13th -tied with CMS- or Eversheds ranking 17th.

“This year’s index demonstrates that it is possible to grow your company’s brand virtually, in a remote environment,” says Elizabeth Duffy, Senior Director of Global Client Services at Thomson Reuters. “And while there is no single formula for success, a winning strategy is one that builds on a firm’s strengths and aligns with the evolving needs of today’s clients while preparing for the future,” adds the Thomson Reuters index manager.

“Looking ahead, we expect firms with a strong brand in M&A to continue to perform well this year as it is one of the most in-demand practices along with a high demand for Regulatory support,” notes Duffy. “Firms that can demonstrate strong industry sector expertise relevant to clients and interpret regulations across multiple jurisdictions will be in high demand.”

“And for the brave, innovation remains the biggest white space for a firm that wants to create a truly differentiated brand that responds to clients’ most pressing unmet needs,” Elizabeth Duffy concludes the index report.

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