Spain's ‘Biggest European Firm' Title Passes To France

Author:Iberian Lawyer
Profession:Iberian Lawyer
 
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Growth of 7.7% at the French outfit Fidal means it replaces Spain's largest firm as Europe's number one

Iberian heavyweight Garrigues' position as the biggest law firm in continental Europe has now been occupied by French giant Fidal, according to a new report. Research showed that Fidal's turnover increased by 7.7 per cent to €347.5m in 2014 meaning that it has overtaken Garrigues - which increased its revenue by 1.1 per cent to €335.6m last year - as the largest law firm. The report attributed Fidal's success in 2014 to the success of its tax and valuation teams, which reported revenue increases of 18 and 21 per cent respectively. However, Spanish firms make up a bigger proportion of the top 10 firms in Europe than French firms. Spain has three firms in the top 10 (Garrigues, Cuatrecasas Gonçalves Pereira, and Uría Menéndez), while France has two. Germany has three firms in the top 10, while the Netherlands and Italy have one each. The data - published in The Lawyer European 100 report - showed that revenue per lawyer at Garrigues increased from €234,000 in 2012/13 to €254,000 last year. Meanwhile, revenue per partner increased slightly from €1.15m to €1.16m. However, the firm's revenue per equity partner dropped from €1.27m to €1.24m.

Revenue per lawyer at Fidal increased 5.8 per cent from275,000 to291,000, while revenue per partner increased 9.5 per cent from514,000 to563,000. The firm's revenue per equity partner grew very slightly to1.07m. The other Iberian firms to be included in the top ten of the rankings were fourth-placed Cuatrecasas Gonçalves Pereira (255.4m turnover) and eighth-placed Uría Menéndez (192.1m turnover). Revenue per lawyer at Cuatrecasas stood at297,000 compared to349,000 at Uría. Meanwhile, Cuatrecasas' revenue per partner stands...

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