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April 2009 |
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THE Bar Council has welcomed the publication of the International Financial Services London’s (IFSL) Legal Services 2009 report. The report highlights the strength of London as an international centre of legal expertise which saw the legal sector grow in the 2007/8
financial year, despite the start of the economic downturn. While growth has turned negative for over two quarters, London’s reputation as a centre of legal excellence has meant that it has retained a solid base as we move into 2009. The key findings include:
The three largest global law firms were from the UK (based on fee revenue)
In terms of head count, UK law firms held five out of the top seven places; most UK law firms within the top 100 have improved their ranking during the 2007/8 financial year
Fee income of the top 100 UK law firms increased by 14% in the 2007/8 financial year to a record £14.0bn
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