Silver Circle (law firms)
The Silver Circle is a group of corporate law firms headquartered in London, United Kingdom which are each outside the Magic Circle, and have a lower turnover than the members of that group, but have an average profits per equity partner (PEP) and average revenue per lawyer (RPL) far above the UK average.[1][2][3] The term was first coined by The Lawyer magazine in 2005.
Composition
As defined by The Lawyer magazine, the Silver Circle comprises Herbert Smith Freehills, Ashurst, Berwin Leighton Paisner, King & Wood Mallesons, Macfarlanes and Travers Smith.[1] Their 2012/13, 2013/14, and 2014/15 turnover and profits per equity partner are shown below:
| # | Law firm | Turnover (2012/13)[4] | Profits per equity partner (2012/13)[4] | Turnover (2013/14) | Profits per equity partner (2013/14) | Turnover (2014/15) | Profits per equity partner (2014/15) |
|---|---|---|---|---|---|---|---|
| 9 | Herbert Smith Freehills | £671m | £784,000 | £800m | £741,000 | £815m | £801,000 |
| 13 | Ashurst | £323m | £680,000 | £586m | £801,000 | £561m | £747,000 |
| 17 | Berwin Leighton Paisner | £233m | £401,000 | £246m | £542,000 | £259m | £659,000 |
| 22 | King & Wood Mallesons | £183m (SJ Berwin LLP) | £565,000 | £179m (KWM LLP) | £470,000 | £191m | £610,000 |
| 29 | Macfarlanes | £114m | £989,000 | £139.75m | £1,200,000 | £159.6m | £1,550,000 |
| 41 | Travers Smith | £86m | £790,000 | £97.2m | £882,000 | £106m | £935,000 |
See also
- Magic Circle (law)
- Offshore magic circle
- White shoe firm
- Seven Sisters (law firms)
- Big Six
- Red Circle (law)
- Big Four law firms (Japan)
References
- 1 2 "Ashurst, Herbies ride out tough year; BLP, Macfarlanes, SJ Berwin succumb". The Lawyer. 14 July 2008. Retrieved 25 October 2010.
- ↑ "Silver Circle". The Lawyer. 3 September 2007. Retrieved 25 October 2010.
- ↑ Fletcher, Martin (28 August 2005). "'Silver circle' firms upset the legal order". London: The Times. Retrieved 25 October 2010.
- 1 2 http://www.thelawyer.com/analysis/intelligence/uk-200-2013-free/uk-200-financial-data/3011203.article
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