Revenues are up 5.5% for the year ending 30 June 2022
Baker McKenzie has announced revenues of US $3.3 billion for the fiscal year ending 30 June 2022 – an increase of 5.5% compared to the previous year.
After a record jump in profits in the previous financial year, the firm's net income of US $1.24 billion was on par with FY21, despite a partial cost rebound in recent months as the firm returns to a more normalised mode of operation post pandemic.
Across the world, North America had a particularly strong year, with a revenue increase of 12.1%, while Asia Pacific revenues were up 3.3%, EMEA higher by 3.4% and Latin America up by 4.1%.
Baker McKenzie continued to see expansion in the healthcare & life Sciences and technology sectors, growing 9.6% and 8.8% respectively, while in the face of rising energy prices and the need to generate new capacity, the energy, mining and infrastructure sector has also become a major driver of activity, growing 10.8% in FY22.
On the practice front, Baker McKenzie saw several standout areas, most notably private equity, which recorded 25.7% growth, while M&A and antitrust & competition grew 9.2% and 10.2% respectively. Real Estate was also a very active space, with many organisations looking to negotiate less, but higher quality, work space.
"We have built on the success of the previous year to achieve record revenues once again, while continuing to invest strategically for the future," said Milton Cheng, global chair of Baker McKenzie.
"Baker McKenzie's global reach, breadth and depth of our expertise, and local strength positions us well to help clients right through the economic cycle. With our size and scale, we have the ability to make targeted investments to adjust quickly to our clients' needs and underlying market trends, helping businesses to move from uncertainty to opportunity."