Summary: Latham & Watkins has become the number one grossing firm in the world.
Latham & Watkins may have a modest 2,100 lawyers – modest, that is, in comparison to DLA Piper and Baker & McKenzie’s 4,000 plus – yet nevertheless, for the first time in 30 years, they’ve taken the number one spot in terms of revenue, with a 2014 gross of $2.6 billion.
They were able to surpass Baker & McKenzie’s previous win of $2.5 billion last year, when they were the first to break the 2.5 barrier, and Latham beat even them by managing to land some especially lucrative clients. In 2014 they advised lenders on an $11 billion high-yield bond offering for French cable operator Numericable, and they also represented Allergan’s $66 billion sale to Actavis.
Latham began in Los Angeles and has since grown across the United States and across the world. Most of their work in 2014 was done in Germany, London, and New York.
After the number one spot had been held by Baker & McKenzie; DLA Piper; and Skadden, Arps, Slate, Meagher & Flom; Latham & Watkins’ time has come.
“They have been looking at elite work,” said American Lawyer Editor-In-Chief Kim Kleman, further describing Latham’s 2014 as “white hot.”
News Source: Wall Street Journal