2012 zguide final
DESCRIPTION
2012 Zguide FinalTRANSCRIPT
UIDE
UIDE
UIDE
UIDE
UIDE
TO LEADING LAW FIRMS
THE AM LAW 100/200THE GLOBAL 100
THE A-LISTCORPORATE SCORECARD
ZEUGHAUSER GROUP’S 2012 POCKET GUIDE TO THE AMERICAN LAWYER RANKINGS
10th
10th
Anniversary Edition
ANNIVERSARY EDITION
Dear Clients and Other Friends:
The ZGuide to the 2012 Am Law 200 and 2011 Global 100
marks our tenth anniversary of publishing the ZGuide,
which we are delighted to celebrate by providing you with
a complimentary copy.
At the time we published last year’s ZGuide, we noted that
the legal industry was rebounding nicely from the softening
in the economy that began in the second half of 2007 and
continued through 2009. But for most firms, 2011 did not
fulfill the promise of robust growth akin to that of the golden
era that preceded the downturn. Relatively flat demand
and the ever-growing chasm separating the most successful
firms from the rest of the pack created unprecedented
challenges, not only to lead and manage better, but also to
do so prudently. Midway through 2012, caution has become
the byword of the year, underscored by the collapse of the
iconic Dewey & LeBoeuf law firm, which followed on the
heels of Howrey, Thelen, Heller, and Brobeck over a few
short years, each a wake-up call for change.
Looking ahead to 2013, we believe that market leadership
will become a still stronger imperative not just for success,
but for sustainability. Relentless focus on being at the top
is the only prescription for survival in what has become a
crucible of change for the legal industry. As we noted last
year, the ability to surpass the expectations of evermore
sophisticated clients and successfully confront the
• ZGuide •
Zeughauser Group
ZGuide • 1
MethodologyThe Am Law 200, A-List . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
The Am Law 200
Ranked by Profits Per Equity Partner . . . . . . . . . . . . . . . . . . . . 4
The Am Law 200Ranked by Value Per Lawyer . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Methodology
The Global 100 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34
The Global 100Ranked by Profits Per Equity Partner . . . . . . . . . . . . . . . . . . . 36
MethodologyThe Corporate Scorecard . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
The Corporate ScorecardMergers and Acquisitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48Private Equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49IPOs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50Equities by U.S. Corporations . . . . . . . . . . . . . . . . . . . . . . . . . 51Investment-Grade Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52High-Yield Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52Asset-Backed Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53Mortgage-Backed Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . 54Municipal Bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54Project Finance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55REIT Equities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56REIT Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56Bankruptcies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 57Emergences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
Law Firm Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Table of Contents
• ZGuide •
© ALM Media Properties, LLC and Zeughauser Group, LLC
Chart information reprinted with permission from the April, May, June, July 2012 and October 2011 issues of The American Lawyer (The Am Law 100, The Am Law 200, Corporate Scorecard, The A-List, and The Global 100). © 2011 and 2012 ALM Media Properties, LLC
unyielding pressure to maintain high levels of profitability
will separate the winners from the losers.
Despite unprecedented challenges, we remain optimistic
about the future for strong law firms, and flattered by
those firms that have chosen us to counsel them in seizing
opportunities to lead. And, as we have for each of the
past ten years, we want to take this opportunity to thank
our clients and the more than fifty Am Law 200 firms that
participate in our Chair, CMO, and COO Roundtables for
their interest in our work. We look forward to working
with them and with new clients to anticipate, identify, and
capture near- and long-term opportunities.
Sincerely,
Ron Beard Mozhgan Mizban
Norm Rubenstein Jack Walker
Mary K Young Peter Zeughauser
Kent Zimmermann Lonnie Zwerin
ZGuide • 3
Methodology
• Revenue Per Lawyer (RPL) is calculated by dividing gross revenue by the number of lawyers.
• Profits Per Equity Partner (PPEP) is calculated by dividing net operating income by the number of equity partners.
• Compensation Average—All Partners is the net oper-ating income plus compensation to nonequity partners, divided by the number of equity and nonequity partners.
• Value Per Lawyer (VPL) is calculated by dividing the Compensation Average—All Partners by the total number of lawyers. That figure is then divided into $10 million to deter-mine how many lawyers it takes to generate that amount.
Location of FirmsSome firms are identified as “international” or “national,” rather than identifying them by city, according to the percentage of the firm’s attorneys in various regions of the country and the percentage that work outside the United States. Those breakouts are obtained from the most recent National Law Journal NLJ 250 survey.1 If 40 percent or more of the firm’s lawyers were located outside the U.S., the firm is identified as “international.” If no more than 45 percent of the firm’s attorneys were located in any one region of the country, the firm is identified as “national.” The American Lawyer designates some firms as “Vereins,” which differ structurally from other Am Law 200 firms, especially in regard to profit sharing.
The A-ListThe A-List, comprised of just 20 firms, is determined by rankings in four surveys—The American Lawyer ’s Revenue Per Lawyer (from The Am Law 200); Pro Bono; and Midlevel Associate Survey rankings; and The Minority Law Journal’s Diversity Scorecard rankings. Rankings in each survey are converted into points, using an inversion calculation where a firm ranked Number One receives 200 points, and a firm ranked Number 200 receives just one point. To determine each firm’s score, points are doubled for both Revenue Per Lawyer and Pro Bono rankings and then added to the scores for the Midlevel Associate Survey and Diversity Scorecard rankings.
Additional information about the A-List is available on americanlawyer.com and in the July 2012 issue of The American Lawyer. u
1 In April of 2012, The National Law Journal published the first expanded ranking of law firms based on the number of lawyers, The NLJ 350.
2 • ZGuide
The Am Law 200
The Am Law 200 is reported by staff members at ALM Media’s publications throughout the United States, including The American Lawyer, The Connecticut Law Tribune, Daily Business Review (Miami), Fulton County Daily Report (Atlanta), The Legal Intelligencer (Philadelphia), The National Law Journal/Legal Times, The New Jersey Law Journal, New York Law Journal, The Recorder (San Francisco), and Texas Lawyer.
Most law firms provide their financials voluntarily for this report, but all data, whether it comes officially from the firm or not, is investigated by reporters.
DefinitionsGross revenue is fee income from legal work only. It does not include disbursements or income from nonlegal ancillary businesses. In all cases, the revenue and profit figures listed are for the firm’s most recently completed fiscal year. Most Am Law firms are on a calendar fiscal year. Net is compensation paid to equity partners.
Equity partners are those who receive no more than half their compensation on a fixed-income basis. Nonequity partners are those who receive more than half their compensation on a fixed basis. Lawyer numbers are full-time-equivalent figures for the 2011 calendar year taken from The National Law Journal ’s most recent NLJ 250 survey.1
Calculations• Gross Revenue is rounded to the nearest $500,000. • Profits Per Equity Partner, Revenue Per Lawyer, and
Average Compensation—All Partners are rounded to the nearest $5,000.
ZGuide • 5
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
1 1 Wachtell, Lipton, Rosen & Katz 245 Lawyers, 78 Equity Partners, 0 Nonequity Partners, New York $4,460,000 $552,000,000 56 $2,255,000 1 $4,460,000
2 2 Quinn Emanuel Urquhart & Sullivan 647 Lawyers, 111 Equity Partners, 35 Nonequity Partners, Los Angeles $4,160,000 $723,500,000 36 $1,120,000 14 $3,420,000
3 3 Sullivan & Cromwell 764 Lawyers, 171 Equity Partners, 0 Nonequity Partners, New York $3,220,000 $1,113,000,000 16 $1,455,000 2 $3,220,000
4 4 Cahill Gordon & Reindel 280 Lawyers, 58 Equity Partners, 8 Nonequity Partners, New York $3,210,000 $326,000,000 86 $1,165,000 12 $2,950,000
5 5 Cravath, Swaine & Moore 476 Lawyers, 80 Equity Partners, 0 Nonequity Partners, New York $3,100,000 $568,000,000 51 $1,195,000 8 $3,100,000
6 7 Paul, Weiss, Rifkind, Wharton & Garrison I 737 Lawyers, 126 Equity Partners, 0 Nonequity Partners, New York $3,095,000 $780,000,000 30 $1,060,000 20 $3,095,000
7 6 Kirkland & Ellis 1,442 Lawyers, 305 Equity Partners, 359 Nonequity Partners, National $3,050,000 $1,750,000,000 5 $1,215,000 5 $1,650,000
8 8 Irell & Manella 171 Lawyers, 53 Equity Partners, 0 Nonequity Partners, Los Angeles $2,875,000 $244,000,000 121 $1,425,000 3 $2,875,000
9 10 Cleary Gottlieb Steen & Hamilton 1,183 Lawyers, 191 Equity Partners, 0 Nonequity Partners, International $2,695,000 $1,125,000,000 15 $950,000 35 $2,695,000
10 9 Simpson Thacher & Bartlett I 820 Lawyers, 182 Equity Partners, 0 Nonequity Partners, New York $2,660,000 $963,500,000 20 $1,175,000 11 $2,660,000
11 12 Milbank, Tweed, Hadley & McCloy I 585 Lawyers, 127 Equity Partners, 19 Nonequity Partners, New York $2,570,000 $652,000,000 42 $1,115,000 16 $2,435,000
12 11 Boies, Schiller & Flexner 255 Lawyers, 43 Equity Partners, 54 Nonequity Partners, National $2,535,000 $317,000,000 91 $1,245,000 4 $1,570,000
13 14 Skadden, Arps, Slate, Meagher & Flom I 1,832 Lawyers, 414 Equity Partners, 0 Nonequity Partners, National $2,480,000 $2,165,000,000 3 $1,180,000 10 $2,480,000
14 15 Gibson, Dunn & Crutcher I 1,039 Lawyers, 274 Equity Partners, 35 Nonequity Partners, National $2,470,000 $1,166,000,000 12 $1,120,000 14 $2,240,000
15 16 Weil, Gotshal & Manges I 1,153 Lawyers, 186 Equity Partners, 109 Nonequity Partners, New York $2,440,000 $1,229,500,000 11 $1,065,000 19 $2,015,000
16 13 Cadwalader, Wickersham & Taft 464 Lawyers, 55 Equity Partners, 46 Nonequity Partners, New York $2,375,000 $448,500,000 64 $965,000 31 $1,600,000
17 17 Davis Polk & Wardwell I 769 Lawyers, 161 Equity Partners, 0 Nonequity Partners, New York $2,300,000 $910,000,000 22 $1,185,000 9 $2,300,000
18 22 Latham & Watkins I2,014 Lawyers, 446 Equity Partners, 146 Nonequity Partners, National $2,270,000 $2,152,000,000 4 $1,070,000 17 $1,930,000
19 20 Schulte Roth & Zabel 371 Lawyers, 84 Equity Partners, 0 Nonequity Partners, New York $2,160,000 $377,500,000 75 $1,015,000 23 $2,160,000
20 18 Willkie Farr & Gallagher 585 Lawyers, 131 Equity Partners, 0 Nonequity Partners, New York $2,145,000 $548,000,000 58 $935,000 39 $2,145,000
Firms noted with a star (I) are on The American Lawyer’s “A-List.” (See the methodology on pages 2 and 3.)Firms ranked 101-200 in The Am Law 200 are in bold.
4 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 7
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
21 21 Dechert 747 Lawyers, 141 Equity Partners, 105 Nonequity Partners, National $2,110,000 $671,000,000 41 $900,000 49 $1,470,000
22 19 Debevoise & Plimpton I 648 Lawyers, 143 Equity Partners, 0 Nonequity Partners, New York $2,075,000 $675,500,000 40 $1,045,000 22 $2,075,000
23 23 Paul Hastings I 881 Lawyers, 189 Equity Partners, 55 Nonequity Partners, National $1,965,000 $884,000,000 24 $1,005,000 26 $1,695,000
24 26 King & Spalding 813 Lawyers, 156 Equity Partners, 148 Nonequity Partners, National $1,935,000 $781,500,000 29 $960,000 32 $1,240,000
25 39 Wilson Sonsini Goodrich & Rosati 589 Lawyers, 103 Equity Partners, 65 Nonequity Partners, Palo Alto $1,765,000 $549,000,000 57 $930,000 40 $1,380,000
26 38 O’Melveny & Myers I 766 Lawyers, 184 Equity Partners, 12 Nonequity Partners, Los Angeles $1,725,000 $779,000,000 31 $1,015,000 23 $1,650,000
27 33 Hughes Hubbard & Reed I 305 Lawyers, 57 Equity Partners, 39 Nonequity Partners, New York $1,720,000 $321,000,000 89 $1,055,000 21 $1,355,000
28 28 Bingham McCutchen 855 Lawyers, 162 Equity Partners, 166 Nonequity Partners, National $1,715,000 $868,500,000 25 $1,015,000 23 $1,150,000
29 36 Proskauer Rose 703 Lawyers, 162 Equity Partners, 57 Nonequity Partners, New York $1,700,000 $686,000,000 39 $975,000 29 $1,420,000
30 29 Akin Gump Strauss Hauer & Feld I 791 Lawyers, 165 Equity Partners, 136 Nonequity Partners, National $1,685,000 $770,000,000 32 $975,000 29 $1,220,000
31 24 Kasowitz Benson Torres & Friedman 355 Lawyers, 54 Equity Partners, 54 Nonequity Partners, New York $1,670,000 $240,500,000 122 $680,000 106 $1,070,000
32 — BuckleySandler 126 Lawyers, 24 Equity Partners, 0 Nonequity Partners, Washington, DC $1,665,000 $96,000,000 196 $760,000 79 $1,665,000
33 27 Kramer Levin Naftalis & Frankel 325 Lawyers, 69 Equity Partners, 35 Nonequity Partners, New York $1,635,000 $312,000,000 93 $960,000 32 $1,400,000
34 42 Sidley Austin 1,592 Lawyers, 296 Equity Partners, 335 Nonequity Partners, National $1,605,000 $1,415,500,000 8 $890,000 53 $1,085,000
35 32 Fried, Frank, Harris, Shriver & Jacobson 495 Lawyers, 134 Equity Partners, 7 Nonequity Partners, New York $1,580,000 $474,000,000 62 $960,000 32 $1,540,000
36 29 Patterson Belknap Webb & Tyler 189 Lawyers, 47 Equity Partners, 3 Nonequity Partners, New York $1,575,000 $175,000,000 146 $925,000 41 $1,560,000
37 56 Fragomen, Del Rey, Bernsen and Loewy 306 Lawyers, 52 Equity Partners, 8 Nonequity Partners, National $1,570,000 $289,500,000 102 $945,000 36 $1,410,000
38 35 Shearman & Sterling I 834 Lawyers, 176 Equity Partners, 36 Nonequity Partners, International $1,560,000 $750,000,000 34 $900,000 49 $1,405,000
39 45 Loeb & Loeb 301 Lawyers, 50 Equity Partners, 116 Nonequity Partners, National $1,550,000 $257,500,000 115 $855,000 57 $785,000
40 49 Jenner & Block I 433 Lawyers, 109 Equity Partners, 83 Nonequity Partners, Chicago $1,545,000 $389,000,000 72 $900,000 49 $1,075,000
6 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 9
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
41 47 Curtis, Mallet-Prevost, Colt & Mosle 310 Lawyers, 26 Equity Partners, 34 Nonequity Partners, International $1,540,000 $165,000,000 153 $530,000 165 $935,000
42 41 Ropes & Gray I 977 Lawyers, 271 Equity Partners, 0 Nonequity Partners, Boston $1,535,000 $903,000,000 23 $925,000 41 $1,535,000
43 33 Jeffer Mangels Butler & Mitchell 125 Lawyers, 41 Equity Partners, 32 Nonequity Partners, Los Angeles $1,510,000 $103,000,000 192 $825,000 61 $1,045,000
44 65 Alston & Bird 806 Lawyers, 153 Equity Partners, 199 Nonequity Partners, Atlanta $1,500,000 $644,500,000 43 $800,000 69 $890,000
44 45 Goodwin Procter 754 Lawyers, 199 Equity Partners, 108 Nonequity Partners, Boston $1,500,000 $695,500,000 38 $925,000 41 $1,165,000
44 43 McDermott Will & Emery 984 Lawyers, 187 Equity Partners, 328 Nonequity Partners, National $1,500,000 $825,500,000 27 $840,000 59 $855,000
44 48 Morgan, Lewis & Bockius 1,300 Lawyers, 247 Equity Partners, 212 Nonequity Partners, National $1,500,000 $1,160,500,000 13 $895,000 52 $1,070,000
48 43 Orrick, Herrington & Sutcliffe 1,049 Lawyers, 183 Equity Partners, 188 Nonequity Partners, National $1,480,000 $846,000,000 26 $805,000 67 $960,000
49 37 White & Case 1,906 Lawyers, 278 Equity Partners, 146 Nonequity Partners, International $1,475,000 $1,331,000,000 9 $700,000 99 $1,175,000
50 61 Lowenstein Sandler 245 Lawyers, 66 Equity Partners, 39 Nonequity Partners, Roseland, NJ $1,465,000 $225,000,000 128 $920,000 45 $1,130,000
51 31 Fish & Richardson 353 Lawyers, 101 Equity Partners, 63 Nonequity Partners, National $1,440,000 $377,500,000 75 $1,070,000 17 $1,050,000
51 50 Winston & Strawn 928 Lawyers, 178 Equity Partners, 195 Nonequity Partners, National $1,440,000 $754,000,000 33 $815,000 64 $965,000
53 55 Greenberg Traurig 1,699 Lawyers, 312 Equity Partners, 601 Nonequity Partners, National $1,415,000 $1,243,500,000 10 $730,000 92 $750,000
54 72 Arnold & Porter 676 Lawyers, 217 Equity Partners, 0 Nonequity Partners, Washington, DC $1,405,000 $639,500,000 44 $945,000 36 $1,405,000
54 57 Choate, Hall & Stewart 142 Lawyers, 48 Equity Partners, 31 Nonequity Partners, Boston $1,405,000 $140,000,000 168 $985,000 27 $1,010,000
56 60 Morrison & Foerster I 1,025 Lawyers, 260 Equity Partners, 81 Nonequity Partners, San Francisco $1,400,000 $963,500,000 20 $940,000 38 $1,195,000
57 40 Kaye Scholer 427 Lawyers, 126 Equity Partners, 23 Nonequity Partners, New York $1,395,000 $420,000,000 68 $985,000 27 $1,280,000
58 51 Baker Botts 703 Lawyers, 185 Equity Partners, 88 Nonequity Partners, Houston $1,390,000 $581,500,000 50 $825,000 61 $1,145,000
59 53 Wilmer Cutler Pickering Hale and Dorr I 884 Lawyers, 297 Equity Partners, 0 Nonequity Partners, National $1,375,000 $994,000,000 18 $1,125,000 13 $1,375,000
60 59 Cooley 613 Lawyers, 166 Equity Partners, 63 Nonequity Partners, San Francisco Bay Area $1,365,000 $564,500,000 54 $920,000 45 $1,150,000
8 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 11
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
61 52 Vinson & Elkins 722 Lawyers, 195 Equity Partners, 73 Nonequity Partners, Houston $1,355,000 $607,500,000 47 $840,000 59 $1,175,000
62 62 Munger, Tolles & Olson I 170 Lawyers, 88 Equity Partners, 0 Nonequity Partners, Los Angeles $1,350,000 $204,000,000 136 $1,200,000 7 $1,350,000
63 54 Chadbourne & Parke 405 Lawyers, 79 Equity Partners, 47 Nonequity Partners, New York $1,315,000 $306,000,000 96 $755,000 80 $980,000
64 62 Sheppard Mullin Richter & Hampton 496 Lawyers, 86 Equity Partners, 147 Nonequity Partners, Los Angeles $1,265,000 $400,000,000 71 $805,000 67 $805,000
65 57 Brown Rudnick 184 Lawyers, 50 Equity Partners, 38 Nonequity Partners, Boston $1,230,000 $158,000,000 161 $860,000 56 $895,000
65 67 Manatt, Phelps & Phillips 326 Lawyers, 53 Equity Partners, 137 Nonequity Partners, Los Angeles $1,230,000 $268,000,000 109 $820,000 63 $605,000
67 69 DLA Piper 3,746 Lawyers, 459 Equity Partners, 789 Nonequity Partners, Verein $1,225,000 $2,247,000,000 2 $600,000 140 $715,000
68 64 Williams & Connolly 264 Lawyers, 112 Equity Partners, 0 Nonequity Partners, Washington, DC $1,220,000 $317,500,000 90 $1,205,000 6 $1,220,000
69 66 Katten Muchin Rosenman 584 Lawyers, 142 Equity Partners, 175 Nonequity Partners, National $1,215,000 $462,500,000 63 $790,000 71 $750,000
70 71 Baker & McKenzie 3,805 Lawyers, 714 Equity Partners, 0 Nonequity Partners, Verein $1,200,000 $2,265,000,000 1 $595,000 145 $1,200,000
70 68 Covington & Burling I 707 Lawyers, 230 Equity Partners, 0 Nonequity Partners, Washington, DC $1,200,000 $611,000,000 46 $865,000 55 $1,200,000
72 72 Stroock & Stroock & Lavan 293 Lawyers, 105 Equity Partners, 0 Nonequity Partners, New York $1,190,000 $268,000,000 109 $915,000 48 $1,190,000
73 76 Mayer Brown 1,523 Lawyers, 274 Equity Partners, 311 Nonequity Partners, International $1,180,000 $1,134,000,000 14 $745,000 85 $775,000
74 72 Hogan Lovells 2,253 Lawyers, 520 Equity Partners, 279 Nonequity Partners, Verein $1,165,000 $1,665,000,000 6 $740,000 86 $915,000
75 75 Fenwick & West 248 Lawyers, 81 Equity Partners, 7 Nonequity Partners, Mountain View, CA $1,155,000 $229,500,000 126 $925,000 41 $1,105,000
76 79 Finnegan, Henderson, Farabow, Garrett & Dunner 371 Lawyers, 102 Equity Partners, 45 Nonequity Partners, Washington, DC $1,130,000 $342,000,000 81 $920,000 45 $920,000
77 89 Kelley Drye & Warren 303 Lawyers, 65 Equity Partners, 66 Nonequity Partners, New York $1,080,000 $223,000,000 129 $735,000 90 $700,000
78 79 Shook, Hardy & Bacon 472 Lawyers, 116 Equity Partners, 85 Nonequity Partners, Kansas City, MO $1,070,000 $341,500,000 82 $725,000 96 $765,000
79 70 Andrews Kurth 349 Lawyers, 98 Equity Partners, 81 Nonequity Partners, Houston $1,040,000 $270,000,000 107 $775,000 76 $790,000
79 25 Dewey & LeBoeuf1
1,040 Lawyers, 190 Equity Partners, 114 Nonequity Partners, New York $1,040,000 $782,000,000 28 $750,000 82 $835,000
1 Dewey & LeBoeuf filed for bankruptcy in May 2012.
10 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 13
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
81 86 Locke Lord 540 Lawyers, 145 Equity Partners, 157 Nonequity Partners, Dallas $1,035,000 $416,000,000 69 $770,000 77 $720,000
82 83 Sutherland Asbill & Brennan 375 Lawyers, 102 Equity Partners, 66 Nonequity Partners, Atlanta $1,030,000 $305,500,000 97 $815,000 64 $815,000
83 97 Perkins Coie 747 Lawyers, 157 Equity Partners, 215 Nonequity Partners, Seattle $1,025,000 $547,500,000 59 $735,000 90 $675,000
83 82 Wiley Rein 271 Lawyers, 64 Equity Partners, 69 Nonequity Partners, Washington, DC $1,025,000 $216,500,000 130 $800,000 69 $975,000
85 81 Bracewell & Giuliani 422 Lawyers, 84 Equity Partners, 109 Nonequity Partners, Houston $1,020,000 $271,500,000 106 $645,000 120 $640,000
85 77 Reed Smith 1,486 Lawyers, 313 Equity Partners, 392 Nonequity Partners, National $1,020,000 $993,000,000 19 $670,000 110 $660,000
87 84 Stevens & Lee 166 Lawyers, 56 Equity Partners, 53 Nonequity Partners, Reading, PA $1,015,000 $113,000,000 183 $680,000 106 $690,000
88 87 Chapman and Cutler 203 Lawyers, 85 Equity Partners, 39 Nonequity Partners, Chicago $1,000,000 $159,500,000 160 $785,000 73 $735,000
88 91 Foley Hoag 210 Lawyers, 50 Equity Partners, 45 Nonequity Partners, Boston $1,000,000 $149,000,000 165 $710,000 98 $740,000
88 88 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo2 391 Lawyers, 75 Equity Partners, 128 Nonequity Partners, Boston $1,000,000 $292,500,000 101 $750,000 82 $655,000
88 78 Pillsbury Winthrop Shaw Pittman 615 Lawyers, 168 Equity Partners, 141 Nonequity Partners, National $1,000,000 $526,500,000 60 $855,000 57 $770,000
92 96 Steptoe & Johnson 422 Lawyers, 148 Equity Partners, 0 Nonequity Partners, Washington, DC $970,000 $376,500,000 77 $890,000 53 $970,000
93 94 McKenna Long & Aldridge 424 Lawyers, 81 Equity Partners, 114 Nonequity Partners, National $965,000 $279,500,000 104 $660,000 116 $625,000
94 92 Herrick, Feinstein 151 Lawyers, 32 Equity Partners, 33 Nonequity Partners, New York $955,000 $119,000,000 181 $790,000 71 $705,000
95 107 McElroy, Deutsch, Mulvaney & Carpenter 286 Lawyers, 34 Equity Partners, 74 Nonequity Partners, Morristown, NJ $935,000 $115,500,000 182 $405,000 198 $470,000
96 89 Thompson & Knight 291 Lawyers, 89 Equity Partners, 58 Nonequity Partners, Dallas $925,000 $200,000,000 138 $685,000 103 $710,000
97 84 Dickstein Shapiro 343 Lawyers, 55 Equity Partners, 101 Nonequity Partners, Washington, DC $915,000 $267,000,000 111 $780,000 75 $670,000
98 112 McGuireWoods 918 Lawyers, 181 Equity Partners, 250 Nonequity Partners, Richmond $900,000 $567,500,000 53 $620,000 130 $590,000
99 97 Foley & Lardner 874 Lawyers, 155 Equity Partners, 308 Nonequity Partners, Milwaukee $895,000 $630,000,000 45 $720,000 97 $565,000
100 106 Fitzpatrick, Cella, Harper & Scinto 173 Lawyers, 57 Equity Partners, 0 Nonequity Partners, New York $890,000 $131,000,000 171 $755,000 80 $890,000
2 Fiscal year ends on March 31. Results were projected in order to meet publication deadline.
12 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 15
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
100 114 Holland & Knight 908 Lawyers, 179 Equity Partners, 335 Nonequity Partners, National $890,000 $568,000,000 51 $625,000 128 $545,000
100 93 K&L Gates 1,762 Lawyers, 264 Equity Partners, 643 Nonequity Partners, National $890,000 $1,061,500,000 17 $605,000 135 $505,000
103 111 Jones Day 2,407 Lawyers, 839 Equity Partners, 0 Nonequity Partners, National $870,000 $1,651,000,000 7 $685,000 103 $870,000
103 95 Kenyon & Kenyon 167 Lawyers, 44 Equity Partners, 11 Nonequity Partners, New York $870,000 $123,500,000 176 $740,000 86 $770,000
103 107 Schiff Hardin 310 Lawyers, 103 Equity Partners, 90 Nonequity Partners, Chicago $870,000 $227,000,000 127 $730,000 92 $645,000
106 112 Hunton & Williams 752 Lawyers, 243 Equity Partners, 90 Nonequity Partners, National $865,000 $590,000,000 49 $785,000 73 $760,000
106 100 Patton Boggs 491 Lawyers, 104 Equity Partners, 129 Nonequity Partners, Washington, DC $865,000 $339,500,000 83 $690,000 101 $625,000
108 109 Duane Morris 619 Lawyers, 137 Equity Partners, 219 Nonequity Partners, National $860,000 $415,500,000 70 $670,000 110 $550,000
108 — Morris, Manning & Martin 130 Lawyers, 37 Equity Partners, 32 Nonequity Partners, Atlanta $860,000 $87,000,000 200 $670,000 110 $655,000
110 102 Moore & Van Allen 272 Lawyers, 80 Equity Partners, 71 Nonequity Partners, Charlotte $855,000 $161,000,000 156 $590,000 146 $585,000
110 104 Sills Cummis & Gross 150 Lawyers, 35 Equity Partners, 28 Nonequity Partners, Newark $855,000 $98,500,000 195 $655,000 118 $660,000
112 120 Baker & Hostetler 733 Lawyers, 143 Equity Partners, 199 Nonequity Partners, National $845,000 $440,000,000 65 $600,000 140 $585,000
112 97 Crowell & Moring 445 Lawyers, 95 Equity Partners, 86 Nonequity Partners, Washington, DC $845,000 $329,500,000 84 $740,000 86 $625,000
114 103 Gardere Wynne Sewell 231 Lawyers, 66 Equity Partners, 72 Nonequity Partners, Dallas $835,000 $149,500,000 164 $645,000 120 $580,000
115 114 Arent Fox 315 Lawyers, 102 Equity Partners, 61 Nonequity Partners, Washington, DC $830,000 $230,500,000 125 $730,000 92 $640,000
115 124 Carlton Fields 280 Lawyers, 61 Equity Partners, 107 Nonequity Partners, Tampa $830,000 $160,500,000 158 $575,000 152 $520,000
117 114 Snell & Wilmer 419 Lawyers, 79 Equity Partners, 130 Nonequity Partners, Phoenix $825,000 $253,000,000 120 $605,000 135 $630,000
118 127 Seyfarth Shaw 733 Lawyers, 203 Equity Partners, 160 Nonequity Partners, National $815,000 $484,000,000 61 $660,000 116 $575,000
118 118 Venable 488 Lawyers, 159 Equity Partners, 97 Nonequity Partners, National $815,000 $355,500,000 79 $730,000 92 $630,000
120 136 Jackson Walker 321 Lawyers, 96 Equity Partners, 117 Nonequity Partners, Dallas $805,000 $194,000,000 140 $605,000 135 $530,000
14 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 17
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
120 138 Sullivan & Worcester 144 Lawyers, 41 Equity Partners, 36 Nonequity Partners, Boston $805,000 $101,000,000 193 $700,000 99 $605,000
122 101 Fulbright & Jaworski 810 Lawyers, 313 Equity Partners, 32 Nonequity Partners, Houston $800,000 $597,500,000 48 $740,000 86 $785,000
122 — Squire Sanders3 1,231 Lawyers, 165 Equity Partners, 282 Nonequity Partners, Verein $800,000 $741,500,000 35 $600,000 140 $500,000
124 138 Barnes & Thornburg 469 Lawyers, 198 Equity Partners, 115 Nonequity Partners, Indianapolis $790,000 $297,500,000 99 $635,000 124 $615,000
125 150 Allen Matkins Leck Gamble Mallory & Natsis 199 Lawyers, 106 Equity Partners, 17 Nonequity Partners, Los Angeles $780,000 $161,000,000 156 $810,000 66 $740,000
126 104 Robins, Kaplan, Miller & Ciresi 244 Lawyers, 88 Equity Partners, 12 Nonequity Partners, Minneapolis $775,000 $165,000,000 153 $675,000 108 $735,000
127 132 Bryan Cave 884 Lawyers, 205 Equity Partners, 144 Nonequity Partners, National $770,000 $557,500,000 55 $630,000 125 $595,000
127 138 Winstead 258 Lawyers, 100 Equity Partners, 44 Nonequity Partners, Dallas $770,000 $153,000,000 163 $590,000 146 $600,000
129 123 Gibbons 200 Lawyers, 39 Equity Partners, 63 Nonequity Partners, Newark $765,000 $111,000,000 184 $555,000 157 $480,000
129 129 Pepper Hamilton 469 Lawyers, 158 Equity Partners, 60 Nonequity Partners, Philadelphia $765,000 $324,500,000 87 $690,000 101 $655,000
131 126 Haynes and Boone 493 Lawyers, 138 Equity Partners, 85 Nonequity Partners, Dallas
$760,000 $305,000,000 98 $620,000 130 $630,000
132 132 Troutman Sanders597 Lawyers, 188 Equity Partners, 83 Nonequity Partners, Atlanta $735,000 $386,000,000 73 $645,000 120 $620,000
133 — Edwards Wildman Palmer4 585 Lawyers, 50 Equity Partners, 191 Nonequity Partners, Boston $730,000 $352,500,000 80 $605,000 135 $435,000
133 134 Honigman Miller Schwartz and Cohn 220 Lawyers, 124 Equity Partners, 51 Nonequity Partners, Detroit $730,000 $169,000,000 151 $770,000 77 $585,000
135 124 Vedder Price 242 Lawyers, 123 Equity Partners, 25 Nonequity Partners, Chicago $725,000 $181,000,000 144 $750,000 82 $660,000
136 144 Sedgwick 343 Lawyers, 63 Equity Partners, 60 Nonequity Partners, San Francisco Bay Area $720,000 $206,500,000 133 $600,000 140 $520,000
137 144 Drinker Biddle & Reath 579 Lawyers, 186 Equity Partners, 76 Nonequity Partners, Philadelphia $710,000 $385,500,000 74 $665,000 113 $610,000
138 142 Nixon Peabody 626 Lawyers, 175 Equity Partners, 145 Nonequity Partners, National $705,000 $422,500,000 67 $675,000 108 $540,000
139 120 Brownstein Hyatt Farber Schreck 214 Lawyers, 64 Equity Partners, 61 Nonequity Partners, Denver $700,000 $142,500,000 167 $665,000 113 $555,000
139 — SNR Denton5
1,138 Lawyers, 224 Equity Partners, 279 Nonequity Partners, Verein $700,000 $719,500,000 37 $630,000 125 $485,000
3 Squire, Sanders & Dempsey joined with Hammonds to form the Squire Sanders verein in January 2011, so there is no year-over-year comparison. 4 Edwards Angell Palmer & Dodge merged with Wildman, Harrold, Allen & Dion to form Edwards Wildman Palmer in October 2011, so there is no year-over-
year comparison. 5 Sonnenschein Nath & Rosenthal joined with Denton Wilde Sapte in September 2010 to form the SNR Denton verein, so there is no year-over-year
comparison.
16 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 19
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
141 144 Buchanan Ingersoll & Rooney 415 Lawyers, 103 Equity Partners, 89 Nonequity Partners, Pittsburgh $695,000 $257,500,000 115 $620,000 130 $535,000
141 135 Gordon & Rees 403 Lawyers, 33 Equity Partners, 147 Nonequity Partners, San Francisco Bay Area $695,000 $185,500,000 141 $460,000 189 $320,000
143 171 Baker & Daniels6 274 Lawyers, 106 Equity Partners, 48 Nonequity Partners, Indianapolis $680,000 $175,500,000 145 $640,000 123 $575,000
144 152 Cozen O’Connor 503 Lawyers, 146 Equity Partners, 100 Nonequity Partners, Philadelphia $655,000 $294,000,000 100 $585,000 149 $510,000
145 136 Blank Rome 472 Lawyers, 139 Equity Partners, 121 Nonequity Partners, Philadelphia $650,000 $309,500,000 95 $655,000 118 $490,000
146 147 Ice Miller 219 Lawyers, 97 Equity Partners, 24 Nonequity Partners, Indianapolis $635,000 $127,500,000 174 $580,000 151 $560,000
147 — Kilpatrick Townsend & Stockton7 576 Lawyers, 166 Equity Partners, 107 Nonequity Partners, Atlanta $630,000 $362,000,000 78 $630,000 125 $530,000
148 172 Lewis Brisbois Bisgaard & Smith 804 Lawyers, 96 Equity Partners, 363 Nonequity Partners, Los Angeles $620,000 $316,500,000 92 $395,000 199 $390,000
148 119 Wilson Elser Moskowitz Edelman & Dicker 785 Lawyers, 152 Equity Partners, 182 Nonequity Partners, National $620,000 $310,000,000 94 $395,000 199 $460,000
150 156 Epstein Becker & Green 275 Lawyers, 58 Equity Partners, 65 Nonequity Partners, National $615,000 $160,500,000 158 $585,000 149 $440,000
151 161 Nelson Mullins Riley & Scarborough 414 Lawyers, 153 Equity Partners, 104 Nonequity Partners, Columbia, SC $600,000 $237,000,000 123 $570,000 153 $460,000
152 156 Day Pitney 314 Lawyers, 148 Equity Partners, 0 Nonequity Partners, Hartford $595,000 $185,000,000 142 $590,000 146 $595,000
152 161 Jackson Lewis 644 Lawyers, 197 Equity Partners, 145 Nonequity Partners, National $595,000 $326,500,000 85 $505,000 176 $450,000
154 143 McCarter & English 378 Lawyers, 94 Equity Partners, 98 Nonequity Partners, Newark $590,000 $211,500,000 132 $560,000 155 $445,000
154 148 Womble Carlyle Sandridge & Rice 491 Lawyers, 156 Equity Partners, 158 Nonequity Partners, Winston-Salem $590,000 $279,000,000 105 $570,000 153 $430,000
156 159 Bradley Arant Boult Cummings 359 Lawyers, 193 Equity Partners, 42 Nonequity Partners, Birmingham $585,000 $198,500,000 139 $555,000 157 $525,000
156 153 Fox Rothschild 471 Lawyers, 150 Equity Partners, 59 Nonequity Partners, Philadelphia $585,000 $257,000,000 118 $545,000 160 $490,000
158 150 Buchalter Nemer 158 Lawyers, 82 Equity Partners, 0 Nonequity Partners, Los Angeles $570,000 $108,000,000 189 $685,000 103 $570,000
159 192 Dickinson Wright 254 Lawyers, 94 Equity Partners, 58 Nonequity Partners, Detroit $565,000 $129,500,000 172 $510,000 173 $440,000
159 158 Dykema Gossett 331 Lawyers, 87 Equity Partners, 106 Nonequity Partners, Chicago $565,000 $174,500,000 147 $525,000 168 $405,000
6 Joined with Faegre & Benson to form Faegre Baker Daniels, effective January 2012. Results are for the legacy operation only. 7 Kilpatrick Stockton joined with Townsend and Townsend and Crew to form Kilpatrick Townsend & Stockton in January 2011, so there is no year-over-year
comparison.
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
18 • ZGuide
ZGuide • 21
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
159 167 Goulston & Storrs 167 Lawyers, 93 Equity Partners, 0 Nonequity Partners, Boston $565,000 $110,500,000 185 $665,000 113 $565,000
162 176 Armstrong Teasdale 238 Lawyers, 80 Equity Partners, 46 Nonequity Partners, St. Louis $560,000 $109,500,000 187 $460,000 189 $445,000
162 153 Dorsey & Whitney 531 Lawyers, 222 Equity Partners, 42 Nonequity Partners, Minneapolis $560,000 $323,500,000 88 $610,000 134 $520,000
164 176 Stoel Rives 374 Lawyers, 135 Equity Partners, 89 Nonequity Partners, Portland, OR $550,000 $205,000,000 134 $545,000 160 $450,000
165 164 Faegre & Benson8 425 Lawyers, 199 Equity Partners, 0 Nonequity Partners, Minneapolis $540,000 $254,500,000 119 $600,000 140 $540,000
165 163 Hinshaw & Culbertson 472 Lawyers, 105 Equity Partners, 204 Nonequity Partners, Chicago $540,000 $205,000,000 134 $435,000 192 $325,000
165 149 Polsinelli Shughart 503 Lawyers, 107 Equity Partners, 175 Nonequity Partners, Kansas City, MO $540,000 $235,000,000 124 $465,000 187 $385,000
168 167 Thompson Hine 347 Lawyers, 104 Equity Partners, 84 Nonequity Partners, Cleveland $535,000 $183,500,000 143 $530,000 165 $425,000
169 167 Ballard Spahr 473 Lawyers, 227 Equity Partners, 0 Nonequity Partners, Philadelphia $530,000 $285,000,000 103 $605,000 135 $530,000
170 153 Husch Blackwell 520 Lawyers, 158 Equity Partners, 169 Nonequity Partners, St. Louis $525,000 $266,000,000 113 $510,000 173 $390,000
170 167 Porter Wright Morris & Arthur 230 Lawyers, 88 Equity Partners, 51 Nonequity Partners, Columbus $525,000 $122,500,000 177 $535,000 164 $380,000
172 180 Akerman Senterfitt 471 Lawyers, 179 Equity Partners, 72 Nonequity Partners, Miami $520,000 $257,500,000 115 $545,000 160 $450,000
172 174 Thompson Coburn 309 Lawyers, 145 Equity Partners, 61 Nonequity Partners, St. Louis $520,000 $168,000,000 152 $545,000 160 $445,000
174 180 Ogletree, Deakins, Nash, Smoak & Stewart 543 Lawyers, 137 Equity Partners, 161 Nonequity Partners, National $505,000 $269,500,000 108 $495,000 178 $370,000
174 164 Stinson Morrison Hecker 275 Lawyers, 121 Equity Partners, 54 Nonequity Partners, Kansas City, MO $505,000 $143,500,000 166 $520,000 169 $425,000
176 175 Davis Wright Tremaine 436 Lawyers, 191 Equity Partners, 81 Nonequity Partners, Seattle $500,000 $267,000,000 111 $615,000 133 $450,000
176 172 Saul Ewing 219 Lawyers, 83 Equity Partners, 49 Nonequity Partners, Philadelphia $500,000 $122,500,000 177 $560,000 155 $420,000
178 183 Baker, Donelson, Bearman, Caldwell & Berkowitz 546 Lawyers, 187 Equity Partners, 94 Nonequity Partners, Memphis $490,000 $265,500,000 114 $485,000 180 $410,000
178 179 Littler Mendelson 851 Lawyers, 324 Equity Partners, 110 Nonequity Partners, National $490,000 $427,000,000 66 $500,000 177 $425,000
180 184 Michael Best & Friedrich 196 Lawyers, 81 Equity Partners, 50 Nonequity Partners, Milwaukee $485,000 $104,000,000 191 $530,000 165 $380,000
8 Joined with Baker & Daniels to form Faegre Baker Daniels, effective January 2012. Results are for the legacy operation only.
20 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 23
PPEP
Ran
k 20
12
PPEP
Ran
k 20
11
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Am
Law
200 R
ank
Revenue Per
Lawyer RPL R
ank
Compensation Average,
All Partners
181 187 Fisher & Phillips 237 Lawyers, 108 Equity Partners, 35 Nonequity Partners, National $480,000 $121,500,000 179 $515,000 170 $420,000
182 193 Lathrop & Gage 290 Lawyers, 85 Equity Partners, 63 Nonequity Partners, Kansas City, MO $465,000 $138,000,000 169 $475,000 183 $365,000
182 187 Lewis and Roca 183 Lawyers, 83 Equity Partners, 17 Nonequity Partners, Phoenix $465,000 $90,000,000 199 $490,000 179 $420,000
184 189 Burr & Forman 232 Lawyers, 102 Equity Partners, 34 Nonequity Partners, Birmingham $460,000 $109,500,000 187 $470,000 185 $405,000
185 193 Adams and Reese 267 Lawyers, 113 Equity Partners, 58 Nonequity Partners, New Orleans $455,000 $128,000,000 173 $480,000 181 $370,000
185 176 Robinson & Cole 206 Lawyers, 76 Equity Partners, 26 Nonequity Partners, Hartford $455,000 $105,500,000 190 $510,000 173 $395,000
187 180 Holland & Hart 394 Lawyers, 203 Equity Partners, 2 Nonequity Partners, Denver $450,000 $203,500,000 137 $515,000 170 $450,000
188 189 Dinsmore & Shohl 412 Lawyers, 131 Equity Partners, 95 Nonequity Partners, Cincinnati $445,000 $171,500,000 149 $415,000 196 $345,000
188 164 Knobbe Martens Olson & Bear 265 Lawyers, 131 Equity Partners, 3 Nonequity Partners, Irvine, CA $445,000 $165,000,000 153 $625,000 128 $445,000
188 197 Vorys, Sater, Seymour and Pease 345 Lawyers, 157 Equity Partners, 6 Nonequity Partners, Columbus $445,000 $157,500,000 162 $455,000 191 $430,000
191 — Lane Powell 172 Lawyers, 72 Equity Partners, 39 Nonequity Partners, Seattle $440,000 $94,500,000 197 $550,000 159 $365,000
192 184 Kutak Rock 409 Lawyers, 186 Equity Partners, 62 Nonequity Partners, National $435,000 $172,000,000 148 $420,000 195 $380,000
193 198 Quarles & Brady 413 Lawyers, 175 Equity Partners, 78 Nonequity Partners, Milwaukee $420,000 $212,500,000 131 $515,000 170 $365,000
193 184 Williams Mullen 267 Lawyers, 89 Equity Partners, 98 Nonequity Partners, Richmond $420,000 $125,000,000 175 $470,000 185 $335,000
195 195 Hodgson Russ 195 Lawyers, 91 Equity Partners, 16 Nonequity Partners, Buffalo $405,000 $93,000,000 198 $480,000 181 $365,000
196 200 GrayRobinson 257 Lawyers, 146 Equity Partners, 22 Nonequity Partners, Orlando $400,000 $121,500,000 179 $475,000 183 $380,000
196 191 Miller Canfield 321 Lawyers, 100 Equity Partners, 67 Nonequity Partners, Detroit $400,000 $137,000,000 170 $425,000 194 $330,000
198 195 Frost Brown Todd 393 Lawyers, 156 Equity Partners, 80 Nonequity Partners, Cincinnati $385,000 $169,500,000 150 $430,000 193 $330,000
199 — Phelps Dunbar 269 Lawyers, 119 Equity Partners, 0 Nonequity Partners, New Orleans $365,000 $110,500,000 185 $410,000 197 $365,000
200 — Roetzel & Andress 213 Lawyers, 136 Equity Partners, 0 Nonequity Partners, Akron $315,000 $99,000,000 194 $465,000 187 $315,000
22 • ZGuide
The Am Law 200The Largest Firms in the U.S., Ranked By Profits Per Equity Partner
ZGuide • 25
2012
VPL
Rank
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
21 Dechert $485,000 20.62
21 Fish & Richardson $485,000 20.62
21 Lowenstein Sandler $485,000 20.62
24 Davis Polk & Wardwell I $480,000 20.83
24 Wiley Rein $480,000 20.83
24 Willkie Farr & Gallagher $480,000 20.83
27 Goodwin Procter $475,000 21.05
27 Jenner & Block I $475,000 21.05
29 Paul Hastings I $470,000 21.28
30 Akin Gump Strauss Hauer & Feld I $465,000 21.51
30 Honigman Miller Schwartz and Cohn $465,000 21.51
30 King & Spalding $465,000 21.51
30 Wilmer Cutler Pickering Hale and Dorr I $465,000 21.51
34 Allen Matkins Leck Gamble Mallory & Natsis $460,000 21.74
34 Debevoise & Plimpton I $460,000 21.74
36 Stevens & Lee $455,000 21.98
37 Arnold & Porter $450,000 22.22
37 Chapman and Cutler $450,000 22.22
37 Kramer Levin Naftalis & Frankel $450,000 22.22
37 McDermott Will & Emery $450,000 22.22
Firms noted with a star (I) are on The American Lawyer’s "A-List." (See the methodology on pages 2 and 3.) Firms ranked 101 to 200 in The Am Law 200 are in bold.See footnotes on the chart ranking firms by Profits Per Equity Partner for information about changes in firms’ status in 2011/2012 .
24 • ZGuide
Value Per LawyerThe Am Law 200, Ranked By Value Per Lawyer
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
1 Wachtell, Lipton, Rosen & Katz $1,420,000 7.04
2 Irell & Manella $890,000 11.24
3 Quinn Emanuel Urquhart & Sullivan $770,000 12.99
4 Kirkland & Ellis $760,000 13.16
5 Sullivan & Cromwell $720,000 13.89
6 Munger, Tolles & Olson I $700,000 14.29
7 Cahill Gordon & Reindel $695,000 14.39
8 Gibson, Dunn & Crutcher I $665,000 15.04
9 Jeffer Mangels Butler & Mitchell $610,000 16.39
9 Milbank, Tweed, Hadley & McCloy I $610,000 16.39
11 Boies, Schiller & Flexner $600,000 16.67
12 Simpson Thacher & Bartlett I $590,000 16.95
13 Latham & Watkins I $570,000 17.54
14 Choate, Hall & Stewart $560,000 17.86
14 Skadden, Arps, Slate, Meagher & Flom I $560,000 17.86
16 Paul, Weiss, Rifkind, Wharton & Garrison I $530,000 18.87
17 Cravath, Swaine & Moore $520,000 19.23
18 Weil, Gotshal & Manges I $515,000 19.42
18 Williams & Connolly $515,000 19.42
20 Schulte Roth & Zabel $490,000 20.41
ZGuide • 27
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
58 Locke Lord $405,000 24.69
58 Vedder Price $405,000 24.69
63 Morrison & Foerster I $400,000 25.00
63 Schiff Hardin $400,000 25.00
65 Wilson Sonsini Goodrich & Rosati $395,000 25.32
66 Alston & Bird $390,000 25.64
66 Covington & Burling I $390,000 25.64
66 Fenwick & West $390,000 25.64
69 Pillsbury Winthrop Shaw Pittman $385,000 25.97
69 Winston & Strawn $385,000 25.97
71 Morgan, Lewis & Bockius $380,000 26.32
71 Sheppard Mullin Richter & Hampton $380,000 26.32
73 Finnegan, Henderson, Farabow, Garrett & Dunner $365,000 27.40
73 Sutherland Asbill & Brennan $365,000 27.40
75 Thompson & Knight $360,000 27.78
76 Manatt, Phelps & Phillips $355,000 28.17
76 Shearman & Sterling I $355,000 28.17
78 Cadwalader, Wickersham & Taft $350,000 28.57
78 Jackson Walker $350,000 28.57
78 Morris, Manning & Martin $350,000 28.57
26 • ZGuide
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
41 Baker Botts $445,000 22.47
41 Kaye Scholer $445,000 22.47
43 Bingham McCutchen $440,000 22.73
43 Fried, Frank, Harris, Shriver & Jacobson $440,000 22.73
43 Proskauer Rose $440,000 22.73
46 Cleary Gottlieb Steen & Hamilton $435,000 22.99
46 Loeb & Loeb $435,000 22.99
46 Vinson & Elkins $435,000 22.99
49 Brown Rudnick $430,000 23.26
49 Cooley $430,000 23.26
49 Sidley Austin $430,000 23.26
52 Hughes Hubbard & Reed I $425,000 23.53
52 O’Melveny & Myers I $425,000 23.53
52 Ropes & Gray I $425,000 23.53
52 Stroock & Stroock & Lavan $425,000 23.53
56 Patterson Belknap Webb & Tyler $415,000 24.10
57 Barnes & Thornburg $410,000 24.39
58 Andrews Kurth $405,000 24.69
58 Greenberg Traurig $405,000 24.69
58 Katten Muchin Rosenman $405,000 24.69
Value Per LawyerThe Am Law 200, Ranked By Value Per Lawyer
ZGuide • 29
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
100 Duane Morris $315,000 31.75
100 Goulston & Storrs $315,000 31.75
100 Reed Smith $315,000 31.75
100 Snell & Wilmer $315,000 31.75
105 Carlton Fields $310,000 32.26
105 Holland & Knight $310,000 32.26
105 Ice Miller $310,000 32.26
108 Chadbourne & Parke $305,000 32.79
108 Dickstein Shapiro $305,000 32.79
108 Herrick, Feinstein $305,000 32.79
108 Jones Day $305,000 32.79
108 Pepper Hamilton $305,000 32.79
113 Foley & Lardner $300,000 33.33
113 Kelley Drye & Warren $300,000 33.33
113 Mayer Brown $300,000 33.33
113 Patton Boggs $300,000 33.33
113 Robins, Kaplan, Miller & Ciresi $300,000 33.33
118 Buchalter Nemer $295,000 33.90
118 Fitzpatrick, Cella, Harper & Scinto $295,000 33.90
118 Thompson Coburn $295,000 33.90
28 • ZGuide
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
81 Bradley Arant Boult Cummings $345,000 28.99
81 Gardere Wynne Sewell $345,000 28.99
83 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo $340,000 29.41
83 Orrick, Herrington & Sutcliffe $340,000 29.41
83 Steptoe & Johnson $340,000 29.41
86 Foley Hoag $335,000 29.85
86 Fulbright & Jaworski $335,000 29.85
86 Hunton & Williams $335,000 29.85
86 Perkins Coie $335,000 29.85
86 Winstead $335,000 29.85
91 Arent Fox $330,000 30.30
91 Venable $330,000 30.30
93 Baker & Daniels $325,000 30.77
93 Brownstein Hyatt Farber Schreck $325,000 30.77
93 Hogan Lovells $325,000 30.77
93 Kasowitz Benson Torres & Friedman $325,000 30.77
93 Moore & Van Allen $325,000 30.77
93 Shook, Hardy & Bacon $325,000 30.77
93 Sullivan & Worcester $325,000 30.77
100 BuckleySandler $315,000 31.75
Value Per LawyerThe Am Law 200, Ranked By Value Per Lawyer
ZGuide • 31
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
140 K&L Gates $260,000 38.46
140 White & Case $260,000 38.46
143 Ballard Spahr $255,000 39.22
143 Crowell & Moring $255,000 39.22
143 Faegre & Benson $255,000 39.22
143 Fisher & Phillips $255,000 39.22
143 Kenyon & Kenyon $255,000 39.22
143 Michael Best & Friedrich $255,000 39.22
143 Saul Ewing $255,000 39.22
150 Cozen O’Connor $250,000 40.00
150 Kilpatrick Townsend & Stockton $250,000 40.00
152 Buchanan Ingersoll & Rooney $245,000 40.82
152 Dewey & LeBoeuf $245,000 40.82
152 Gibbons $245,000 40.82
152 GrayRobinson $245,000 40.82
152 Husch Blackwell $245,000 40.82
157 Akerman Senterfitt $240,000 41.67
157 Jackson Lewis $240,000 41.67
159 Adams and Reese $235,000 42.55
159 Armstrong Teasdale $235,000 42.55
30 • ZGuide
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
121 Bracewell & Giuliani $290,000 34.48
121 McKenna Long & Aldridge $290,000 34.48
123 Haynes and Boone $285,000 35.09
123 Nelson Mullins Riley & Scarborough $285,000 35.09
123 Seyfarth Shaw $285,000 35.09
126 Davis Wright Tremaine $280,000 35.71
126 Day Pitney $280,000 35.71
126 Troutman Sanders $280,000 35.71
129 Baker & Hostetler $275,000 36.36
129 Drinker Biddle & Reath $275,000 36.36
129 Fragomen, Del Rey, Bernsen and Loewy $275,000 36.36
129 McGuireWoods $275,000 36.36
129 Nixon Peabody $275,000 36.36
129 Sills Cummis & Gross $275,000 36.36
129 Womble Carlyle Sandridge & Rice $275,000 36.36
136 Blank Rome $270,000 37.04
136 Stinson Morrison Hecker $270,000 37.04
136 Stoel Rives $270,000 37.04
139 Dickinson Wright $265,000 37.74
140 Dorsey & Whitney $260,000 38.46
Value Per LawyerThe Am Law 200, Ranked By Value Per Lawyer
ZGuide • 33
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
177 SNR Denton $215,000 46.51
182 Baker, Donelson, Bearman, Caldwell & Berkowitz $210,000 47.62
183 Ogletree, Deakins, Nash, Smoak & Stewart $205,000 48.78
183 Vorys, Sater, Seymour and Pease $205,000 48.78
185 Frost Brown Todd $200,000 50.00
185 Hodgson Russ $200,000 50.00
185 Roetzel & Andress $200,000 50.00
188 Epstein Becker & Green $195,000 51.28
188 Robinson & Cole $195,000 51.28
188 Wilson Elser Moskowitz Edelman & Dicker $195,000 51.28
191 Dinsmore & Shohl $190,000 52.63
192 Lathrop & Gage $185,000 54.05
192 Sedgwick $185,000 54.05
194 Curtis, Mallet-Prevost, Colt & Mosle $180,000 55.56
194 Edwards Wildman Palmer $180,000 55.56
194 McElroy, Deutsch, Mulvaney & Carpenter $180,000 55.56
194 Squire Sanders $180,000 55.56
198 Miller Canfield $170,000 58.82
199 Phelps Dunbar $160,000 62.50
200 Gordon & Rees $145,000 68.97
32 • ZGuide
2012
VPL
Ra
nk
Firm
VPL: Partner Comp/Number of Lawyers,
FY 2011
Lawyers Needed
to Generate $10 Million
159 Bryan Cave $235,000 42.55
159 Burr & Forman $235,000 42.55
159 DLA Piper $235,000 42.55
159 Dykema Gossett $235,000 42.55
159 Holland & Hart $235,000 42.55
159 Lane Powell $235,000 42.55
159 Williams Mullen $235,000 42.55
168 Kutak Rock $230,000 43.48
168 Lewis and Roca $230,000 43.48
168 Porter Wright Morris & Arthur $230,000 43.48
168 Thompson Hine $230,000 43.48
172 Baker & McKenzie $225,000 44.44
172 Knobbe Martens Olson & Bear $225,000 44.44
172 Lewis Brisbois Bisgaard & Smith $225,000 44.44
172 McCarter & English $225,000 44.44
172 Quarles & Brady $225,000 44.44
177 Fox Rothschild $215,000 46.51
177 Hinshaw & Culbertson $215,000 46.51
177 Littler Mendelson $215,000 46.51
177 Polsinelli Shughart $215,000 46.51
Value Per LawyerThe Am Law 200, Ranked By Value Per Lawyer
ZGuide • 35
Most LawyersThe ranking in the last column of the Global 100 chart is based on the average number of full-time-equivalent lawyers at the firm. The firms on this chart are the world’s 100 largest.
Location of FirmsFirms are identified as “international” if 40 percent or more of their lawyers work outside their home country. Firms identified as “national” have no more than 45 percent of their lawyers located in one region of their home country. The geographic breakdown comes from the 2010 National Law Journal survey of the 250 largest U.S. firms (the NLJ 250)1, or from the firm’s Web site. The American Lawyer designates some firms as "Vereins," which differ structurally from other Global 100 firms, especially in regard to profit sharing. u
1 In April of 2012, The National Law Journal published the first expanded ranking of law firms based on the number of lawyers, The NLJ 350.
34 • ZGuide
The Global 100 chart ranks the world’s largest law firms by profits per equity partner, revenue, and head count. The charts, which include data for the fiscal year most recently published by ALM, were compiled by The American Lawyer in cooperation with Legal Week in London and published in the October 2011 issue of The American Lawyer. Although foreign law firms differ in structure from U.S. law firms, The American Lawyer took steps to level the playing field. Currency conversion rates for non-U.S. firms are based on the annual averages published by the U.S. Federal Reserve. A total of 114 firms were included on the global charts.
Profits Per Equity PartnerFirms are ranked by Profits Per Equity Partner (PPEP). PPEP figures were rounded to the nearest $5,000 and were obtained from the same sources that provided the revenue figures. Only firms included in the Most Revenue or Most Lawyers rankings were considered for PPEP ranking.
Most RevenueThe firms ranked by gross revenue are the world’s 100 highest-grossing law firms. Revenue figures are rounded to the nearest $500,000. Financial information for U.S.-based law firms is obtained from The American Lawyer’s The Am Law 100 report, except where otherwise noted. Financial information for law firms in Europe is from Legal Week. Australian and Canadian firms were surveyed by The American Lawyer.
Methodology
The Global 100
ZGuide • 3736 • ZGuide
The Global 100The World’s Largest Firms, Ranked By Profits Per Equity Partner
2011
Glo
bal 1
00PP
EP R
ank
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Gl
obal
100 R
ank
Mos
t Rev
enue
Revenue Per Lawyer Gl
obal
100 R
ank
Mos
t Law
yers
1 Wachtell, Lipton, Rosen & Katz 253 Lawyers, 84 Equity Partners, New York $4,345,000 $580,000,000 53 $2,290,000 —
2 Quinn Emanuel Urquhart & Sullivan 457 Lawyers, 94 Equity Partners, Los Angeles $3,620,000 $550,500,000 58 $1,205,000 —
3 Sullivan & Cromwell 749 Lawyers, 166 Equity Partners, New York $3,250,000 $1,079,000,000 18 $1,440,000 65
4 Cravath, Swaine & Moore 495 Lawyers, 87 Equity Partners, New York $3,170,000 $591,000,000 51 $1,195,000 —
5 Kirkland & Ellis 1,379 Lawyers, 280 Equity Partners, National (U.S.) $3,075,000 $1,625,000,000 10 $1,180,000 19
6 Paul, Weiss, Rifkind, Wharton & Garrison 709 Lawyers, 121 Equity Partners, New York
$3,050,000 $751,000,000 35 $1,060,000 71
7 Simpson Thacher & Bartlett 810 Lawyers, 177 Equity Partners, New York $2,640,000 $923,500,000 25 $1,140,000 49
8 Slaughter and May 507 Lawyers, 123 Equity Partners, London
$2,625,000 $649,000,000 43 $1,280,000 —
9 Cleary Gottlieb Steen & Hamilton 1,127 Lawyers, 191 Equity Partners, International (U.S.) $2,605,000 $1,050,000,000 21 $930,000 24
10 Milbank, Tweed, Hadley & McCloy 574 Lawyers, 119 Equity Partners, New York $2,490,000 $622,000,000 48 $1,085,000 98
11 Cadwalader, Wickersham & Taft 481 Lawyers, 58 Equity Partners, New York $2,390,000 $429,500,000 81 $895,000 —
12 Skadden, Arps, Slate, Meagher & Flom 1,859 Lawyers, 430 Equity Partners, National (U.S.) $2,320,000 $2,100,000,000 2 $1,130,000 11
13 Gibson, Dunn & Crutcher 1,029 Lawyers, 277 Equity Partners, National (U.S.) $2,305,000 $1,063,000,000 19 $1,035,000 28
14 Weil, Gotshal & Manges 1,152 Lawyers, 194 Equity Partners, New York $2,260,000 $1,185,000,000 15 $1,030,000 23
15 Davis Polk & Wardwell 742 Lawyers, 163 Equity Partners, New York $2,210,000 $870,000,000 29 $1,175,000 67
16 Willkie Farr & Gallagher 624 Lawyers, 130 Equity Partners, New York $2,090,000 $533,500,000 61 $855,000 86
17 Debevoise & Plimpton 674 Lawyers, 143 Equity Partners, New York $2,060,000 $657,000,000 42 $975,000 79
18 Schulte Roth & Zabel 674 Lawyers, 143 Equity Partners, New York $2,055,000 $373,000,000 94 $920,000 —
19 Dechert 756 Lawyers, 146 Equity Partners, National (U.S.) $2,010,000 $648,500,000 44 $860,000 62
19 Freshfields Bruckhaus Deringer 2,034 Lawyers, 418 Equity Partners, International (U.K.) $2,010,000 $1,761,500,000 7 $865,000 9
ZGuide • 39
1 Dewey & LeBoeuf filed for bankruptcy in May 2012.
38 • ZGuide
The Global 100The World’s Largest Firms, Ranked By Profits Per Equity Partner
2011
Glo
bal 1
00PP
EP R
ank
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Gl
obal
100 R
ank
Mos
t Rev
enue
Revenue Per Lawyer Gl
obal
100 R
ank
Mos
t Law
yers
21 Latham & Watkins 1,931 Lawyers, 451 Equity Partners, National (U.S.) $1,995,000 $1,929,000,000 4 $1,000,000 10
22 Paul Hastings 910 Lawyers, 195 Equity Partners, National (U.S.) $1,990,000 $902,000,000 27 $990,000 34
23 Linklaters 2,134 Lawyers, 440 Equity Partners, International (U.K.) $1,810,000 $1,854,000,000 6 $870,000 6
24 Dewey & LeBoeuf1 1,045 Lawyers, 185 Equity Partners, New York $1,770,000 $910,000,000 26 $870,000 27
25 King & Spalding 793 Lawyers, 153 Equity Partners, National (U.S.) $1,730,000 $718,000,000 39 $905,000 53
26 Allen & Overy 2,112 Lawyers, 398 Equity Partners, International (U.K.) $1,700,000 $1,730,500,000 8 $820,000 7
27 Bingham McCutchen 901 Lawyers, 164 Equity Partners, National (U.S.) $1,625,000 $873,000,000 28 $970,000 37
28 Akin Gump Strauss Hauer & Feld 784 Lawyers, 170 Equity Partners, National (U.S.) $1,605,000 $736,500,000 37 $940,000 56
29 Fish & Richardson 356 Lawyers, 96 Equity Partners, National (U.S.) $1,600,000 $383,500,000 88 $1,075,000 —
30 Fried, Frank, Harris, Shriver & Jacobson 485 Lawyers, 136 Equity Partners, New York $1,590,000 $471,500,000 69 $970,000 —
31 Shearman & Sterling 796 Lawyers, 184 Equity Partners, International (U.S.) $1,565,000 $737,000,000 36 $925,000 51
32 Proskauer Rose 663 Lawyers, 160 Equity Partners, New York
$1,560,000 $645,000,000 45 $975,000 81
33 Clifford Chance 2,466 Lawyers, 379 Equity Partners, International (U.K.) $1,555,000 $1,883,500,000 5 $765,000 4
33 White & Case 1,814 Lawyers, 269 Equity Partners, International (U.S.) $1,555,000 $1,278,000,000 13 $705,000 12
35 O’Melveny & Myers 884 Lawyers, 211 Equity Partners, Los Angeles $1,525,000 $782,500,000 33 $920,000 42
36 Wilson Sonsini Goodrich & Rosati 588 Lawyers, 114 Equity Partners, Palo Alto $1,500,000 $493,000,000 66 $840,000 97
37 Kaye Scholer 425 Lawyers, 127 Equity Partners, New York $1,490,000 $435,000,000 80 $1,025,000 —
38 Ropes & Gray 928 Lawyers, 262 Equity Partners, Boston $1,475,000 $822,500,000 31 $885,000 33
39 Sidley Austin 1,538 Lawyers, 297 Equity Partners, National (U.S.) $1,465,000 $1,341,000,000 12 $870,000 16
40 McDermott Will & Emery 970 Lawyers, 185 Equity Partners, National (U.S.) $1,460,000 $788,500,000 32 $815,000 31
ZGuide • 4140 • ZGuide
2011
Glo
bal 1
00PP
EP R
ank
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Gl
obal
100 R
ank
Mos
t Rev
enue
Revenue Per Lawyer Gl
obal
100 R
ank
Mos
t Law
yers
40 Orrick, Herrington & Sutcliffe 1,022 Lawyers, 201 Equity Partners, National (U.S.) $1,460,000 $848,500,000 30 $830,000 30
42 Goodwin Procter 741 Lawyers, 212 Equity Partners, Boston $1,450,000 $678,500,000 41 $915,000 68
43 Morgan, Lewis & Bockius 1,239 Lawyers, 245 Equity Partners, National (U.S.) $1,400,000 $1,084,500,000 17 $875,000 20
44 Jenner & Block 438 Lawyers, 117 Equity Partners, Chicago $1,390,000 $379,000,000 90 $865,000 —
45 Winston & Strawn 868 Lawyers, 182 Equity Partners, National (U.S.) $1,385,000 $717,000,000 40 $825,000 44
46 Baker Botts 703 Lawyers, 179 Equity Partners, Houston $1,370,000 $555,000,000 55 $790,000 72
47 Herbert Smith 1,060 Lawyers, 133 Equity Partners, International (U.K.) $1,360,000 $718,500,000 38 $680,000 26
48 Vinson & Elkins 714 Lawyers, 200 Equity Partners, Houston $1,345,000 $602,500,000 49 $845,000 70
49 Wilmer Cutler Pickering Hale and Dorr 890 Lawyers, 297 Equity Partners, National (U.S.) $1,330,000 $962,000,000 22 $1,080,000 39
50 Greenberg Traurig 1,721 Lawyers, 317 Equity Partners, National (U.S.) $1,320,000 $1,236,000,000 14 $720,000 14
51 Cooley 604 Lawyers, 156 Equity Partners, Palo Alto $1,295,000 $517,000,000 65 $855,000 91
52 Morrison & Foerster 1,029 Lawyers, 270 Equity Partners, San Francisco $1,290,000 $930,500,000 24 $905,000 28
53 Mallesons Stephen Jaques 841 Lawyers, 175 Equity Partners, National (Australia) $1,235,000 $452,500,000 75 $540,000 47
54 Sheppard Mullin Richter & Hampton 465 Lawyers, 82 Equity Partners, Los Angeles $1,220,000 $368,000,000 95 $790,000 —
55 Alston & Bird 794 Lawyers, 141 Equity Partners, Atlanta $1,210,000 $571,000,000 54 $720,000 52
56 Baker & McKenzie
3,805 Lawyers, 714 Equity Partners, Verein $1,200,000 $2,265,000,000 1 $595,000 1
57 Katten Muchin Rosenman 597 Lawyers, 141 Equity Partners, National (U.S.) $1,185,000 $443,000,000 78 $740,000 94
58 Covington & Burling 698 Lawyers, 224 Equity Partners, Washington, DC $1,155,000 $581,500,000 52 $835,000 74
59 Garrigues 2,037 Lawyers, 104 Equity Partners, Madrid $1,140,000 $468,000,000 71 $230,000 8
60 DLA Piper 3,348 Lawyers, 416 Equity Partners, Verein $1,135,000 $1,961,000,000 3 $585,000 2
The Global 100The World’s Largest Firms, Ranked By Profits Per Equity Partner
The Global 100The World’s Largest Firms, Ranked By Profits Per Equity Partner
ZGuide • 4342 • ZGuide
2011
Glo
bal 1
00PP
EP R
ank
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Gl
obal
100 R
ank
Mos
t Rev
enue
Revenue Per Lawyer Gl
obal
100 R
ank
Mos
t Law
yers
61 Arnold & Porter 650 Lawyers, 214 Equity Partners, Washington, DC $1,120,000 $555,000,000 55 $855,000 82
61 Hogan Lovells 2,363 Lawyers, 512 Equity Partners, Verein $1,120,000 $1,664,500,000 9 $705,000 5
63 Ashurst 788 Lawyers, 150 Equity Partners, International (U.K.) $1,100,000 $468,000,000 71 $595,000 54
64 Loyens & Loeff 781 Lawyers, 111 Equity Partners, Amsterdam $1,095,000 $391,000,000 86 $500,000 57
65 Allens Arthur Robinson 802 Lawyers, 175 Equity Partners, National (Australia) $1,090,000 $459,500,000 73 $575,000 50
66 Mayer Brown 1,645 Lawyers, 269 Equity Partners, International (U.S.) $1,070,000 $1,107,000,000 16 $675,000 15
67 Berwin Leighton Paisner 594 Lawyers, 90 Equity Partners, London $1,060,000 $354,000,000 97 $595,000 95
68 Reed Smith 1,449 Lawyers, 316 Equity Partners, National (U.S.)
$1,050,000 $958,000,000 23 $660,000 18
69 Pillsbury Winthrop Shaw Pittman 621 Lawyers, 172 Equity Partners, National (U.S.) $1,045,000 $532,000,000 62 $855,000 87
70 Clayton Utz 759 Lawyers, 164 Equity Partners, Sydney $1,035,000 $409,500,000 83 $540,000 61
71 Locke Lord 545 Lawyers, 142 Equity Partners, Dallas $980,000 $396,500,000 85 $725,000 —
72 Clyde & Co 613 Lawyers, 98 Equity Partners, International (U.K.) $975,000 $327,500,000 — $534,000 90
73 Freehills 955 Lawyers, 195 Equity Partners, National (Australia)
$970,000 $471,000,000 70 $495,000 32
74 Minter Ellison 1,061 Lawyers, 212 Equity Partners, National (Australia) $950,000 $483,500,000 67 $455,000 25
75 Blake Dawson 683 Lawyers, 150 Equity Partners, National (Australia) $930,000 $374,000,000 93 $545,000 77
75 K&L Gates 1,763 Lawyers, 294 Equity Partners, National (U.S.) $930,000 $1,055,500,000 20 $600,000 13
77 Steptoe & Johnson 408 Lawyers, 145 Equity Partners, Washington, DC $910,000 $345,000,000 99 $845,000 —
78 Foley & Lardner 895 Lawyers, 168 Equity Partners, Milwaukee $900,000 $633,000,000 46 $705,000 38
78 Perkins Coie 693 Lawyers, 144 Equity Partners, Seattle $900,000 $477,000,000 68 $690,000 75
80 McGuireWoods 886 Lawyers, 183 Equity Partners, Richmond $880,000 $530,500,000 63 $600,000 40
ZGuide • 45
2 Sonnenschein joined with Denton Wilde Sapte in September 2010 to form the SNR Denton verein. Results are for the legacy U.S. operation only. Lawyers Outside Home Country are less than 1%.
3 Squire, Sanders & Dempsey joined with Hammonds to form a verein effective January 2011. Results are for Squire, Sanders & Dempsey pre-merger. 4 Norton Rose joined with Deacons Australia to form a verein effective January 2010. They also joined with law firms Ogilvy Renault and Deneys Reitz Inc effective
June 2011. Results are for pre-June mergers.
44 • ZGuide
The Global 100The World’s Largest Firms, Ranked By Profits Per Equity Partner
2011
Glo
bal 1
00PP
EP R
ank
FirmLawyers, Partners, Location
Profits Per Equity Partner
Gross Revenue Gl
obal
100 R
ank
Mos
t Rev
enue
Revenue Per Lawyer Gl
obal
100 R
ank
Mos
t Law
yers
81 Fulbright & Jaworski 843 Lawyers, 316 Equity Partners, Houston $875,000 $625,500,000 47 $740,000 46
82 Eversheds 1,213 Lawyers, 132 Equity Partners, National (U.K.) $855,000 $548,000,000 59 $450,000 21
83 Duane Morris 629 Lawyers, 136 Equity Partners, National (U.S.) $830,000 $411,000,000 82 $655,000 85
84 Sonnenschein Nath & Rosenthal2 600 Lawyers, 140 Equity Partners, National (U.S.) $825,000 $454,500,000 74 $760,000 93
85 Jones Day 2,502 Lawyers, 828 Equity Partners, National (U.S.) $820,000 $1,616,000,000 11 $645,000 3
86 Hunton & Williams 855 Lawyers, 254 Equity Partners, National (U.S.) $815,000 $600,000,000 50 $700,000 45
87 Holland & Knight 910 Lawyers, 183 Equity Partners, National (U.S.) $800,000 $551,500,000 57 $605,000 34
88 Venable 496 Lawyers, 157 Equity Partners, National (U.S.) $785,000 $337,500,000 100 $680,000 —
89 CMS Cameron 764 Lawyers, 96 Equity Partners, London
$775,000 $347,500,000 98 $455,000 60
89 Wilson Elser Moskowitz Edelman & Dicker 754 Lawyers, 145 Equity Partners, National (U.S.) $775,000 $274,000,000 — — 64
91 Baker & Hostetler 645 Lawyers, 140 Equity Partners, National (U.S.) $765,000 $386,000,000 87 $600,000 84
91 Squire, Sanders & Dempsey3 785 Lawyers, 149 Equity Partners, National (U.S.) $765,000 $518,000,000 64 $660,000 55
93 Seyfarth Shaw 702 Lawyers, 213 Equity Partners, National (U.S.) $735,000 $452,500,000 75 $645,000 73
94 Salans 730 Lawyers, 77 Equity Partners, International (France) $725,000 $260,500,000 — — 69
95 Bird & Bird 812 Lawyers, 82 Equity Partners, International (U.K.) $720,000 $331,500,000 — — 48
96 Norton Rose4 1,477 Lawyers, 275 Equity Partners, Verein $715,000 $754,000,000 34 $510,000 17
97 Simmons & Simmons 686 Lawyers, 131 Equity Partners, International (U.K.) $710,000 $375,500,000 92 $545,000 76
98 Bryan Cave 908 Lawyers, 203 Equity Partners, National (U.S.) $705,000 $539,500,000 60 $595,000 36
98 Troutman Sanders 615 Lawyers, 174 Equity Partners, Atlanta $705,000 $363,500,000 96 $590,000 88
100 Nixon Peabody 650 Lawyers, 190 Equity Partners, National (U.S.) $670,000 $438,000,000 79 $675,000 82
The Global 100
ZGuide • 47
Private Equity Includes deals with a North American-based target that were announced but not necessarily completed in 2011 that are valued at $100 million or more, including debt. Only counsel to bidders that billed more than $100,000 are given credit. A firm's involvement is prorated, depending on its role.IPOs Includes offerings by U.S. and foreign corporations in the U.S. marketplace on the U.S. IPOs chart, and offerings outside the U.S. on the Non-U.S. IPOs chart.Equities Includes worldwide issues by U.S. corporations, including secondaries, convertible bonds, and convertible and nonconvertible preferred stock. It excludes asset-backed securities and REITs. Corporate Debt Investment-grade debt includes securities with a Standard & Poor's rating equal to or greater than BBB- and a Moody's rating equal to or greater than Baa3, and split junk-rated securities. High-yield debt includes securities with an S&P rating equal to or less than BB+ and a Moody's rating equal to or less than Ba1, but excludes split junk-rated securities. Securities not rated by either agency are assumed to be high-yield. Both areas exclude certificates of deposit, general term notes, and issues by federal credit agencies, sovereigns, and national governments.Asset- and Mortgage-Backed Securities Mortgage-backed securities include commercial and residential offerings. When multiple classes of securities are issued together with one legal adviser, they are counted as a single offering. Separate legal advisers are credited with the separate securities they handled. Municipal Bonds Data is based on long-term municipal new issues underwritten in 2011. Short-term, preliminary, and private placement issues are not included.Project Finance Data is based on deals signed and funded in 2011 and includes only nonrecourse and limited recourse facilities. Firms are credited for advising borrowers, concession awarders, commercial lenders, multilateral lenders, export credit agencies, guarantors, and divestors. Because several firms listed in this section are not U.S. firms, the chart includes the foreign firms’ nationality.REITs Data includes equities and debt offerings by real estate investment trusts.Bankruptcy Asset figures used to determine the largest bankruptcies are from the companies' most recently filed annual reports prior to filing under Chapter 11. The Largest Bankruptcies chart excludes bank filings where the FDIC was named receiver. u
46 • ZGuide
The Corporate Scorecard
The American Lawyer’s Corporate Scorecard tracks the transactional practices of leading firms. Corporate finance is a collection of subspecialties, and their scorecard ranks firms within those areas. Unless otherwise noted, data includes only public, registered, underwritten offerings or deals transacted in 2011, including firmly underwritten rule 144a transactions, but not pure private placements or the filing of shelf registrations. Values are as of February 2012, unless otherwise noted.
The American Lawyer published separate charts for rankings based on number of deals/issues and volume of deals/proceeds. In the ZGuide to Leading Law Firms, we present both rankings on one chart, with the primary ranking presented first. On the charts ranking mergers and acquisitions (representation of principals), private equity deals, and bankruptcies/emergences, firms are ranked by the value of the transactions or assets at filing. On all other charts, firms are ranked by the number of issues or deals.
Mergers and Acquisitions Includes deals announced but not necessarily completed in 2011 that are valued at $100 million or more, including debt. (Debt is not included in valuations of financial companies, including banks, securities brokerage firms, credit institutions, insurance companies, and leasing companies.) Deals must involve at least one U.S.-based target, acquiror, or parent company. Transactions include asset sales, spin-offs, and private equity deals. Equity carve-outs, exchange offers, and stake repurchases are not included. On the “Counsel to Principals” chart, the law firm must have been counsel to at least one target, acquiror, investor, seller, parent, management group, shareholder group, or special committee. The “Counsel to Principals” chart is ranked by value. The “Counsel to Investment Advisers” chart is ranked by number of deals.
Methodology
ZGuide • 49
Mergers and Acquisitions (cont.)
Counsel to Investment Advisors Num
ber
of D
eals
Rank by Number of
DealsValue
of Deals(in millions)
Rank by Value of
Deals2012 2011 2012 2011
Cleary Gottlieb Steen & Hamilton 11 12 — $25,778 16 —
Weil, Gotshal & Manges 10 14 — $33,684 14 —
Covington & Burling 8 15 — $21,343 18 —
McDermott Will & Emery 7 16 — — — —
O’Melveny & Myers 7 16 — — — —
Torys 6 18 — — — —
Linklaters 5 19 — — — —
Kirkland & Ellis 4 20 — — — —
Vinson & Elkins — — — $37,439 12 —
Wachtell, Lipton, Rosen & Katz — — — $37,392 13 —
Baker Botts — — — $27,155 15 —
White & Case — — — $23,599 17 —
Proskauer Rose — — — $14,833 20 —
Source: mergermarket
Private Equity
Counsel to Bidders
Valueof Deals
(in millions)
Rank by Value
of Deals
Num
ber
of D
eals
Rank by Number of Deals
2012 2011 2012 2011
Simpson Thacher & Bartlett $39,851 1 1 22 2 1
Kirkland & Ellis $17,817 2 3 25 1 2
Weil, Gotshal & Manges $17,144 3 13 9 4 5
Latham & Watkins $11,251 4 2 14 3 3
King & Spalding $10,045 5 — — — —
Gilbert + Tobin $9,400 6 — — — —
Debevoise & Plimpton $8,494 7 7 7 5 6
Torys $6,491 8 — 3 15 —
Andrews Kurth $5,663 9 — — — —
Epstein Becker & Green $5,663 9 — — — —
Ropes & Gray $5,130 11 4 4 9 6
Fried, Frank, Harris, Shriver & Jacobson $4,402 12 — 6 6 9
Jones Day $3,825 13 — 4 9 9
Cleary Gottlieb Steen & Hamilton $3,450 14 8 4 9 11
Covington & Burling $3,416 15 — — — —
Goodwin Procter — — — 5 7 —
Skadden, Arps, Slate, Meagher & Flom — — 5 5 7 4
McDermott Will & Emery — — — 4 9 —
Paul, Weiss, Rifkind, Wharton & Garrison — — — 4 9 6
Stikeman Elliott — — — 4 9 —
Davis Polk & Wardwell — — — 3 15 —
King & Spalding — — — 3 15 —
Mayer Brown — — — 3 15 —
McCarthy Tetrault — — — 3 15 —
Schulte Roth & Zabel — — — 3 15 13
Source: mergermarket
48 • ZGuide
The Corporate ScorecardMergers and Acquisitions
Counsel to Principals
Valueof Deals
(in millions)
Rank by Value
of Deals
Num
ber
of D
eals
Rank by Number of Deals
2012 2011 2012 2011
Wachtell, Lipton, Rosen & Katz $243,024 1 9 42 11 9
Skadden, Arps, Slate, Meagher & Flom $223,308 2 2 92 3 1
Sullivan & Cromwell $182,701 3 1 41 13 7
Simpson Thacher & Bartlett $149,110 4 3 84 4 4
Cleary Gottlieb Steen & Hamilton $131,621 5 4 40 15 10
Weil, Gotshal & Manges $110,967 6 8 55 6 5
Jones Day $106,943 7 12 67 5 6
Cravath, Swaine & Moore $90,008 8 — — — —
Latham & Watkins $88,997 9 6 94 2 2
Linklaters $88,254 10 13 — — 13
Freshfields Bruckhaus Deringer $82,404 11 11 39 16 15
Blake, Cassels & Graydon $75,141 12 5 49 7 8
Kirkland & Ellis $71,843 13 — 95 1 3
Shearman & Sterling $69,586 14 — 37 18 19
Allen & Overy $63,797 15 — 43 9 —
Davies Ward Phillips & Vineberg $62,951 16 — — — —
Dechert $59,829 17 — — — —
Mayer Brown $50,586 18 16 — — 17
Morgan, Lewis & Bockius $46,769 19 — — — —
Gibson, Dunn & Crutcher $45,919 20 — — — —
Baker & McKenzie — — — 45 8 —
Vinson & Elkins — — 17 43 9 10
Davis Polk & Wardwell — — 7 42 11 12
DLA Piper — — — 41 13 —
Hogan Lovells — — — 39 16 —
Clifford Chance — — — 36 19 —
Debevoise & Plimpton — — 15 35 20 20
Source: mergermarket
Counsel to Investment Advisors Num
ber
of D
eals
Rank by Number of
DealsValue
of Deals(in millions)
Rank by Value of
Deals2012 2011 2012 2011
Dewey & LeBoeuf 55 1 1 $189,785 1 3
Sullivan & Cromwell 33 2 2 $141,107 2 9
Shearman & Sterling 31 3 5 $105,264 6 6
Davis Polk & Wardwell 27 4 8 $76,900 7 —
Latham & Watkins 18 5 4 $124,978 4 5
Simpson Thacher & Bartlett 17 6 3 $137,289 3 1
Cravath, Swaine & Moore 15 7 — $113,045 5 7
Gibson, Dunn & Crutcher 14 8 7 $58,005 9 10
Fried, Frank, Harris, Shriver & Jacobson
13 9 9 $71,750 8 2
Greenberg Traurig 13 9 10 $43,761 10 —
Skadden, Arps, Slate, Meagher & Flom 13 9 6 $15,152 19 4
Alston & Bird 11 12 10 $42,738 11 8
ZGuide • 51
Non-U.S. IPOs (cont.)
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Davis Polk & Wardwell 5 1 3 $1,889 1 2
Commerce & Finance Law Offices 3 2 1 $561 5 3
Jun He Law Firm 3 2 4 — — 5
King & Wood 3 2 — — — —
Latham & Watkins 3 2 4 — — 4
Shearman & Sterling 3 2 4 $1,201 2 —
Milbank, Tweed, Hadley & McCloy — — — $718 3 —
Walkers — — — $718 3 —
Source: Thomson Reuters
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Davis Polk & Wardwell 51 1 1 $17,480 1 1
Latham & Watkins 42 2 2 $8,640 5 3
Baker Botts 32 3 — — — —
Goodwin Procter 27 4 5 — — —
Simpson Thacher & Bartlett 23 5 3 — — 5
Cravath, Swaine & Moore — — — $12,331 2 4
Cleary Gottlieb Steen & Hamilton — — 4 $11,776 3 2
Debevoise & Plimpton — — — $9,261 4 —
Source: Thomson Reuters
Equities by U.S. Corporations, Excluding IPOs
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Issuer’s Counsel 2012
2011
2012
2011
Vinson & Elkins 42 1 1 $8,729 4 4
Latham & Watkins 21 2 4 — — —
Simpson Thacher & Bartlett 16 3 — $16,115 1 2
Gibson, Dunn & Crutcher 12 4 — — — —
Wilson Sonsini Goodrich & Rosati 12 4 — — — —
Sullivan & Cromwell — — — $11,308 2 —
Dewey & LeBoeuf — — — $10,869 3 —
Davis Polk & Wardwell — — — $6,454 5 5
50 • ZGuide
The Corporate Scorecard
Non-U.S. IPOs
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Issuer’s Counsel 2012
2011
2012
2011
Maples and Calder 8 1 2 $1,021 2 2
Davis Polk & Wardwell 3 2 — $1,043 1 —
Latham & Watkins 3 2 — — — —
Skadden, Arps, Slate, Meagher & Flom 3 2 3 — — 1
Commerce & Finance Law Offices 2 5 — — — —
Conyers Dill & Pearman 2 5 1 — — 3
Han Kun Law Offices 2 5 4 — — —
King & Wood 2 5 — — — —
Van Doorne — — — $717 3 —
Wilmer Cutler Pickering Hale and Dorr — — — $717 3 —
Harney Westwood & Riegels — — — $543 5 —
Paul, Weiss, Rifkind, Wharton & Garrison — — — $543 5 —
U.S. IPOs
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Issuer’s Counsel 2012
2011
2012
2011
Latham & Watkins 10 1 1 $1,975 3 8
Wilson Sonsini Goodrich & Rosati 9 2 3 — — 5
Cooley 6 3 5 — — —
Vinson & Elkins 5 4 1 — — 3
Akin Gump Strauss Hauer & Feld 4 5 — — — —
Andrews Kurth 4 5 — — — —
Davis Polk & Wardwell 4 5 — — — —
DLA Piper 4 5 5 — — —
Richards, Layton & Finger 4 5 — — — —
Simpson Thacher & Bartlett 4 5 10 $3,681 1 9
Skadden, Arps, Slate, Meagher & Flom 4 5 5 $1,832 4 4
Bass Berry & Sims — — — $2,332 2 —
Bracewell & Giuliani — — — $1,774 5 —
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Latham & Watkins 14 1 2 $1,702 5 5
Davis Polk & Wardwell 11 2 1 $2,931 3 1
Baker Botts 6 3 4 — — 4
Wilson Sonsini Goodrich & Rosati 6 3 8 — — —
Andrews Kurth 5 5 8 $4,360 1 6
Simpson Thacher & Bartlett 5 5 3 — — 3
Cahill Gordon & Reindel — — — $3,683 2 —
Winston & Strawn — — — $2,177 4 —
Source: Thomson Reuters
ZGuide • 53
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Bingham McCutchen 41 1 1 $25,238 1 1
Sidley Austin 32 2 2 $19,379 2 2
Mayer Brown 30 3 3 $18,592 3 3
Cadwalader, Wickersham & Taft 18 4 5 $8,149 4 4
Kirkland & Ellis 10 5 — — — —
Simpson Thacher & Bartlett — — — $4,435 5 —
Source: Thomson Reuters
High-Yield Debt (cont.)
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Cahill Gordon & Reindel 121 1 1 $77,491 1 1
Latham & Watkins 70 2 2 $27,599 2 2
Davis Polk & Wardwell 53 3 4 $23,906 4 3
Cravath, Swaine & Moore 45 4 6 $25,998 3 6
Shearman & Sterling 37 5 5 $21,049 5 5
Simpson Thacher & Bartlett 33 6 3 $13,579 6 4
Skadden, Arps, Slate, Meagher & Flom 19 7 7 $9,181 7 7
White & Case 16 8 8 $7,554 8 9
Allen & Overy 11 9 10 $4,895 9 8
Baker Botts 10 10 — — — —
Cleary Gottlieb Steen & Hamilton 10 10 10 — — —
Vinson & Elkins 10 10 9 — — 10
Linklaters — — — $4,075 10 —
Source: Thomson Reuters
Asset-Backed Securities
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Issuer’s Counsel 2012
2011
2012
2011
Mayer Brown 32 1 3 $22,867 1 1
Bingham McCutchen 16 2 1 $11,707 2 2
Kirkland & Ellis 15 3 1 $9,137 3 3
Cadwalader, Wickersham & Taft 9 4 7 $4,025 5 6
Sidley Austin 7 5 — — — —
Skadden, Arps, Slate, Meagher & Flom 7 5 — — — —
Alston & Bird — — — $4,230 4 —
52 • ZGuide
The Corporate Scorecard
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Davis Polk & Wardwell 89 1 2 $104,000 1 1
Sidley Austin 82 2 1 $67,039 2 3
Cleary Gottlieb Steen & Hamilton 52 3 3 $45,396 6 5
Simpson Thacher & Bartlett 47 4 5 $46,878 5 2
Dewey & LeBoeuf 42 5 6 — — 10
Shearman & Sterling 37 6 4 $53,103 4 4
Cravath, Swaine & Moore 35 7 8 $58,153 3 6
Mayer Brown 29 8 — $24,309 8 —
Sullivan & Cromwell 26 9 7 $33,529 7 7
Skadden, Arps, Slate, Meagher & Flom 24 10 9 — — 9
Linklaters — — — $23,339 9 8
Allen & Overy — — — $16,479 10 —
Source: Thomson Reuters
Investment-Grade Debt
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Issuer’s Counsel 2012
2011
2012
2011
Davis Polk & Wardwell 54 1 1 $51,083 1 1
Skadden, Arps, Slate, Meagher & Flom 40 2 5 $39,632 4 4
Sidley Austin 34 3 5 $18,630 7 —
Cleary Gottlieb Steen & Hamilton 31 4 4 $46,869 2 3
Sullivan & Cromwell 30 5 2 $39,888 3 2
Latham & Watkins 25 6 3 $25,369 6 5
Simpson Thacher & Bartlett 24 7 7 $28,444 5 6
Shearman & Sterling 21 8 10 $15,452 9 —
Dewey & LeBoeuf 15 9 8 — — 10
Morgan, Lewis & Bockius 14 10 9 — — 2
Gibson, Dunn & Crutcher — — — $16,355 8 —
Allen & Overy — — — $14,153 10 —
High-Yield Debt
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Issuer’s Counsel 2012
2011
2012
2011
Latham & Watkins 37 1 3 $17,997 4 3
Simpson Thacher & Bartlett 32 2 1 $25,131 1 1
Vinson & Elkins 30 3 5 $10,931 6 8
Kirkland & Ellis 29 4 4 $18,253 3 4
Davis Polk & Wardwell 23 5 6 $19,735 2 7
Skadden, Arps, Slate, Meagher & Flom 21 6 2 $10,107 7 2
White & Case 16 7 8 — — 5
Cleary Gottlieb Steen & Hamilton 14 8 — — — —
Shearman & Sterling 13 9 9 $9,462 8 6
Debevoise & Plimpton 12 10 — $7,186 10 —
Sullivan & Cromwell — — — $11,929 5 —
Gibson, Dunn & Crutcher — — — $7,608 9 —
ZGuide • 55
Municipal Bonds (cont.)
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Fulbright & Jaworski 230 1 1 $8,855 4 7
Kutak Rock 194 2 3 $8,169 5 5
Andrews Kurth 156 3 2 $3,459 14 9
Orrick, Herrington & Sutcliffe 121 4 5 $9,714 3 4
McCall, Parkhurst & Horton 116 5 4 — — —
Hawkins Delafield & Wood 111 6 6 $18,203 1 2
Nossaman 81 7 — — — —
Greenberg Traurig 74 8 7 $3,531 13 10
Stradling Yocca Carlson & Rauth 68 9 8 $4,132 11 8
Ballard Spahr 65 10 9 $4,117 12 13
Peck, Shaffer & Williams 64 11 14 $5,960 8 —
Vinson & Elkins 61 12 15 — — —
Squire Sanders 54 13 10 $3,253 15 12
Nixon Peabody 50 14 13 $7,656 6 1
McGuireWoods 42 15 — — — —
Winston & Strawn — — — $9,812 2 6
Sidley Austin — — — $6,099 7 3
Source: Thomson Reuters
Project Finance
Firm Num
ber o
f Fi
nanc
ings Rank by
Number of Financings Va
lue
of
Fina
ncin
gs
(in m
illio
ns)
Rank by Value of
Financings2012 2011 2012 2011
Clifford Chance (U.K.) 102 1 2 $23,104 2 4
Allen & Overy (U.K.) 77 2 1 $23,572 1 3
Norton Rose (Verein) 72 3 3 $10,461 9 10
Linklaters (U.K.) 53 4 6 $17,131 4 2
Allens Arthur Robinson (Australia) 51 5 9 $11,479 8 12
Latham & Watkins 46 6 5 $12,671 7 9
White & Case 45 7 8 $19,957 3 6
Milbank, Tweed, Hadley & McCloy 43 8 6 $14,940 6 7
Freehills (Australia) 36 9 12 $7,882 13 —
Amarchand & Mangaldas & Suresh A Shroff & Co (India) 30 10 18 $16,549 5 8
Herbert Smith (U.K.) 26 11 — $9,782 12 15
SJ Law (India) 26 11 16 $10,295 11 13
Mallesons Stephen Jaques (Australia) 24 13 — — — —
Jones Day 23 14 16 $6,321 14 —
Luthra & Luthra Law Offices (India) 23 14 10 $10,421 10 1
Garrigues (Spain) 21 16 4 $5,456 16 11
DLA Piper (Verein) 20 17 13 — — 19
Ashurst (U.K.) 19 18 11 — — —
Baker & McKenzie 19 18 — $5,810 15 20
Shearman & Sterling 18 20 13 $5,063 19 18
Skadden, Arps, Slate, Meagher & Flom — — — $5,455 17 —
Hogan Lovells (Verein) — — 18 $5,336 18 —
Link Legal (India) — — — $4,995 20 — Source: Dealogic
54 • ZGuide
The Corporate ScorecardMortgage-Backed Securities
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Issuer’s Counsel 2012
2011
2012
2011
Cadwalader, Wickersham & Taft 16 1 1 $16,623 1 1
Mayer Brown 8 2 — — — —
Sidley Austin 6 3 — $5,948 5 —
Stradley Ronon Stevens & Young 6 3 — $8,433 3 —
Hunton & Williams 4 5 — — — —
Allen & Overy — — 4 $11,737 2 3
Clifford Chance — — — $6,072 4 4
Municipal Bonds
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Bond Counsel 2012
2011
2012
2011
Gilmore & Bell 430 1 1 — — 15
Chapman and Cutler 410 2 2 $5,272 11 10
Quarles & Brady 378 3 3 — — —
Orrick, Herrington & Sutcliffe 327 4 4 $25,044 1 1
Fulbright & Jaworski 305 5 6 $7,532 6 8
Dorsey & Whitney 295 6 8 — — —
McCall, Parkhurst & Horton 291 7 7 $6,942 8 7
Hawkins Delafield & Wood 258 8 9 $15,013 2 2
Edwards Wildman Palmer 239 9 — $5,938 9 —
Baird Holm 220 10 — — — —
Kutak Rock 220 10 5 $12,981 3 4
Ahlers & Cooney 215 12 13 — — —
Squire Sanders 195 13 12 $11,558 4 5
Peck, Shaffer & Williams 186 14 10 — — 11
Friday, Eldredge & Clark 170 15 15 — — —
Sidley Austin — — — $10,873 5 3
Nixon Peabody — — — $7,495 7 6
Winston & Strawn — — — $5,423 10 —
Foster Pepper — — — $4,690 12 12
Ballard Spahr — — — $4,266 13 13
Stradling Yocca Carlson & Rauth — — — $4,184 14 —
Dickinson Wright — — — $4,108 15 —
Numb
er of
Iss
ues
Rank by Number of Issues
Proc
eeds
(in m
illio
ns) Rank by
Proceeds
Underwriter’s Counsel 2012
2011
2012
2011
Cadwalader, Wickersham & Taft 16 1 3 $13,367 1 2
SNR Denton 11 2 — $9,207 3 —
Mayer Brown 7 3 — — — —
Bingham McCutchen 6 4 2 — — 3
Sidley Austin 6 4 — $4,833 4 5
Allen & Overy — — — $9,839 2 —
Linklaters — — 5 $4,032 5 4
Source: Thomson Reuters
ZGuide • 57
REIT Debt (cont.)
Underwriter’s Counsel Num
ber o
f Is
sues
Rank by Number of
Issues Proceeds(in millions)
Rank by
Proceeds2012 2011 2012 2011
Sidley Austin 14 1 1 $6,897 1 1
Skadden, Arps, Slate, Meagher & Flom 7 2 3 $2,119 2 3
Cahill Gordon & Reindel 2 3 — $975 5 —
Davis Polk & Wardwell 2 3 — — — —
Calfee, Halter & Griswold 1 5 — $1,391 3 —
Dewey & LeBoeuf 1 5 — — — —
DLA Piper 1 5 — — — —
Goodwin Procter 1 5 4 — — 5
Hogan Lovells 1 5 2 $996 4 2
K&L Gates 1 5 — — — —
Latham & Watkins 1 5 — — — —
Simpson Thacher & Bartlett 1 5 — — — — Source: Thomson Reuters
Largest Bankruptcies
Assets(in millions) Company Description Jurisdiction Debtor’s Counsel
Creditor’s Committee and Other Counsel*
$40,542 MF Global Holdings Ltd.
Banking / Finance
NYSD Skadden, Arps, Slate, Meagher & Flom
n/a
$25,088 AMR Corporation
Aviation NYSD Debevoise & Plimpton; Groom Law Group; Morgan, Lewis & Bockius; Paul Hastings; Weil Gotshal & Manges
n/a
$9,949 Dynegy Holdings, LLC
Electrical Energy
NYSD Sidley Austin; White & Case
Akin Gump Strauss Hauer & Feld
$4,219 The PMI Group, Inc.
Mortgage Insurance
DEL Osborn Maledon; Sullivan & Cromwell; Young Conaway Stargatt & Taylor
n/a
$3,512 NewPage Corporation
Paper Manu-facturing
DEL Ciardi Ciardi & Astin; Dewey & LeBoeuf; Pachulski Stang Ziehl & Jones
Paul Hastings; Young Conaway Stargatt & Taylor
$1,782 General Maritime Corporation
Oil Shipping NYSD Curtis, Mallet-Prevost, Colt & Mosle; Kramer Levin Naftalis & Frankel
Jones Day; Lowenstein Sandler
$1,425 Borders Group, Inc.
Retail (Books & Music)
NYSD Baker & McKenzie; Dickinson Wright; Kasowitz Benson Torres & Friedman
Lowenstein Sandler
$1,376 TerreStar Corporation
Telecommu-nications
NYSD Akin Gump Strauss Hauer & Feld
n/a
$1,158 Lee Enterprises, Incorporated
Media DEL Lane & Waterman; Sidley Austin; Young Conaway Stargatt & Taylor
n/a
$1,024 Delta Petroleum Corporation
Oil & Gas DEL Davis Graham & Stubbs; Hughes Hubbard & Reed; Morris, Nichols, Arsht & Tunnell
n/a
* Firms listed are Creditor’s Committee Counsel unless noted otherwise. Source: BankruptcyData.com
56 • ZGuide
The Corporate Scorecard
Underwriter’s Counsel Num
ber o
f Is
sues
Rank by Number of
Issues Proceeds(in millions)
Rank by
Proceeds2012 2011 2012 2011
Sidley Austin 20 1 1 $5,603 2 1
Skadden, Arps, Slate, Meagher & Flom 14 2 2 $3,750 4 2
Clifford Chance 10 3 4 — — 4
Hunton & Williams 10 3 3 $5,486 3 5
DLA Piper 5 5 4 — — —
Calfee, Halter & Griswold — — — $2,048 5 —
Fried, Frank, Harris, Shriver & Jacobson — — — $6,034 1 3 Source: Thomson Reuters
REIT Equities
Issuer’s Counsel Num
ber o
f Is
sues
Rank by Number of
Issues Proceeds(in millions)
Rank by
Proceeds2012 2011 2012 2011
Venable 34 1 1 $4,246 3 1
Latham & Watkins 11 2 2 $1,448 5 —
DLA Piper 8 3 — $1,667 4 —
Hunton & Williams 8 3 2 — — 5
Skadden, Arps, Slate, Meagher & Flom 8 3 — $4,954 2 4
K&L Gates — — — $6,336 1 2
REIT Debt
Issuer’s Counsel Num
ber o
f Is
sues
Rank by Number of
Issues Proceeds(in millions)
Rank by
Proceeds2012 2011 2012 2011
Latham & Watkins 5 1 1 $1,614 2 1
Hogan Lovells 3 2 2 — — —
Hunton & Williams 3 2 — — — —
Skadden, Arps, Slate, Meagher & Flom 2 4 3 $3,380 1 —
Sullivan & Cromwell 2 4 — $573 5 —
Sullivan & Worcester 2 4 3 — — —
Venable 2 4 — — — —
Shumaker, Loop & Kendrick — — — $1,391 3 —
DLA Piper — — — $996 4 —
ZGuide • 59
Notes
58 • ZGuide
The Corporate Scorecard
Largest Emergences
Assets(in millions) Company Description Jurisdiction Debtor’s Counsel
Creditor’s Committee and Other Counsel*
$91,047 General Motors Corporation
Automotive NYSD Baker & McKenzie; Honigman Miller Schwartz and Cohn; Jenner & Block; Jones Day; Lowe, Fell & Skogg; Togut, Segal & Segal; Weil, Gotshal & Manges
Butzel Long; Caplin & Drysdale; Kramer Levin Naftalis & Frankel; Morris, Nichols, Arsht & Tunnell. Other Counsel: Dean M. Trafelet (Equity Security Holders Committee Counsel); Godfrey & Kahn (Fee Examiner Counsel); Stutzman, Bromberg, Esserman & Plifka (Future Asbestos Personal Injury Claimants)
$25,816 The Colonial BancGroup, Inc.
Banking / Finance
AL - Middle District
Balch & Bingham; Cohen Pollock Merlin & Small; GrayRobinson; Parker, Hudson, Rainer & Dobbs
Burr & Forman; Schulte Roth & Zabel
$20,638 Capmark Financial Group Inc.
Banking / Finance
DEL Bryan Cave; Dewey & LeBoeuf; Latham & Watkins; Messana; Morgan, Lewis & Bockius; Paul Hastings; Quinn Emanuel Urquhart & Sullivan; Reed Smith; Richards, Layton & Finger
Bayard; Kasowitz Benson Torres & Friedman; Kramer Levin Naftalis & Frankel; Wilmer Cutler Pickering Hale and Dorr
$16,796 Guaranty Financial Group Inc.
Banking / Finance
TEX - Northern District
Haynes and Boone
n/a
$11,700 AmTrust Financial Corporation
Banking / Finance
OH - Northern District
Squire Sanders; Tucker Ellis & West
Hahn Loeser & Parks
$8,353 Corus Bankshares, Inc.
Banking / Finance
ILL - Northern District
Kirkland & Ellis Kilpatrick Townsend & Stockton; Neal, Gerber & Eisenberg
$5,832 Station Casinos, Inc.
Gaming NEV Brown Rudnick; Campbell & Williams; Downey Brand; Gibson, Dunn & Crutcher; Kirkland & Ellis; Lewis and Roca; Milbank, Tweed, Hadley & McCloy; Squire Sanders
Fox Rothschild; Fried, Frank, Harris, Shriver & Jacobson; Greenberg Traurig; Maupin, Cox & LeGoy; Quinn Emanuel Urquhart & Sullivan
$3,777 AMCORE Financial, Inc.
Banking / Finance
ILL - Northern District
Skadden, Arps, Slate, Meagher & Flom
n/a
$3,585 Advanta Corp. Banking / Finance
DEL Richards, Layton & Finger; Weil, Gotshal & Manges
Drinker Biddle & Reath; Latham & Watkins
$3,436 Midwest Banc Holdings, Inc.
Banking / Finance
ILL - Northern District
Hinshaw & Culbertson
Freeborn & Peters
* Firms listed are Creditor’s Committee Counsel unless noted otherwise. Source: BankruptcyData.com
60 • ZGuide ZGuide • 61
Buchalter Nemer, 18, 29Buchanan Ingersoll & Rooney, 18, 31BuckleySandler, 6, 28Burr & Forman, 22, 32, 58Butzel Long, 58
C Cadwalader, Wickersham & Taft, 4, 27, 36, 53, 54Cahill Gordon & Reindel, 4, 24, 50, 53, 57Calfee, Halter & Griswold, 56, 57Campbell & Williams, 58Caplin & Drysdale, 58Carlton Fields, 14, 29Chadbourne & Parke, 10, 29Chapman and Cutler, 12, 25, 54Choate, Hall & Stewart, 8, 24Ciardi Ciardi & Astin, 57Clayton Utz, 42Cleary Gottlieb Steen & Hamilton, 4, 26, 36, 48, 49, 51, 52, 53Clifford Chance, 38, 48, 54, 55, 56Clyde & Co, 42CMS Cameron, 44Cohen Pollock Merlin & Small, 58Commerce & Finance Law Offices, 50, 51Conyers Dill & Pearman, 50Cooley, 8, 26, 40, 50Covington & Burling, 10, 27, 40, 49Cozen O'Connor, 18, 31Cravath, Swaine & Moore, 4, 24, 36, 48, 51, 52, 53Crowell & Moring, 14, 31Curtis, Mallet-Prevost, Colt & Mosle, 8, 33, 57
DDavies Ward Phillips & Vineberg, 48Davis Graham & Stubbs, 57Davis Polk & Wardwell, 4, 25, 36, 48, 49, 50, 51, 52, 53, 57Davis Wright Tremaine, 20, 30Day Pitney, 18, 30Dean M. Trafelet, 58Debevoise & Plimpton, 6, 25, 36, 48, 49, 51, 52, 57Dechert, 6, 25, 36, 48Dewey & LeBoeuf, 10, 31, 38, 48, 51, 52, 57, 58Dickinson Wright, 18, 30, 54, 57Dickstein Shapiro, 12, 29Dinsmore & Shohl, 22, 33DLA Piper, 10, 32, 40, 48, 50, 55, 56, 57Dorsey & Whitney, 20, 30, 54Downey Brand, 58Drinker Biddle & Reath, 16, 30, 58Duane Morris, 14, 29, 44Dykema Gossett, 18, 32
Law Firm Index
AAdams and Reese, 22, 31Ahlers & Cooney, 54Akerman Senterfitt, 20, 31Akin Gump Strauss Hauer & Feld, 6, 25, 38, 50, 57Allen & Overy, 38, 48, 52, 53, 54, 55Allen Matkins Leck Gamble Mallory & Natsis, 16, 25Allens Arthur Robinson, 42, 55Alston & Bird, 8, 27, 40, 48, 53Amarchand & Mangaldas & Suresh A Shroff & Co, 55Andrews Kurth, 10, 26, 49, 50, 55Arent Fox, 14, 28Armstrong Teasdale, 20, 31Arnold & Porter, 8, 25, 42Ashurst, 42, 55
BBaird Holm, 54Baker & Daniels, 18, 28Baker & Hostetler, 14, 30, 44Baker & McKenzie, 10, 32, 40, 48, 55, 57, 58Baker Botts, 8, 26, 40, 49, 50, 51, 53Baker, Donelson, Bearman, Caldwell & Berkowitz, 20, 33Balch & Bingham, 58Ballard Spahr, 20, 31, 54, 55Barnes & Thornburg, 16, 26Bass Berry & Sims, 50Bayard, 58Berwin Leighton Paisner, 42Bingham McCutchen, 6, 26, 38, 53, 54Bird & Bird, 44Blake Dawson, 42Blake, Cassels & Graydon, 48Blank Rome, 18, 30Boies, Schiller & Flexner, 4, 24Bracewell & Giuliani, 12, 30, 50Bradley Arant Boult Cummings, 18, 28Brown Rudnick, 10, 26, 58Brownstein Hyatt Farber Schreck, 16, 28Bryan Cave, 16, 32, 44, 58
62 • ZGuide ZGuide • 63
Hughes Hubbard & Reed, 6, 26, 57Hunton & Williams, 14, 28, 44, 54, 56Husch Blackwell, 20, 31
IIce Miller, 18, 29Irell & Manella, 4, 24
JJackson Lewis, 18, 31Jackson Walker, 14, 27Jeffer Mangels Butler & Mitchell, 8, 24Jenner & Block, 6, 25, 40, 58Jones Day, 14, 29, 44, 48, 49, 55, 57, 58Jun He Law Firm, 51
K K&L Gates, 14, 31, 42, 56, 57Kasowitz Benson Torres & Friedman, 6, 28, 57, 58Katten Muchin Rosenman, 10, 26, 40Kaye Scholer, 8, 26, 38Kelley Drye & Warren, 10, 29Kenyon & Kenyon, 14, 31Kilpatrick Townsend & Stockton, 18, 31, 58King & Spalding, 6, 25, 38, 49King & Wood, 50, 51Kirkland & Ellis, 4, 24, 36, 48, 49, 52, 53, 58Knobbe Martens Olson & Bear, 22, 32Kramer Levin Naftalis & Frankel, 6, 25, 57, 58Kutak Rock, 22, 32, 54, 55
LLane & Waterman, 57Lane Powell, 22, 32Latham & Watkins, 4, 24, 38, 48, 49, 50, 51, 52, 53, 55, 56, 57, 58Lathrop & Gage, 22, 33Lewis and Roca, 22, 32, 58Lewis Brisbois Bisgaard & Smith, 18, 32Link Legal, 55Linklaters, 38, 48, 49, 52, 53, 54, 55Littler Mendelson, 20, 32Locke Lord, 12, 27, 42Loeb & Loeb, 6, 26Lowe, Fell & Skogg, 58Lowenstein Sandler, 8, 25, 57Loyens & Loeff, 42Luthra & Luthra Law Offices, 55
MMallesons Stephen Jaques, 40, 55Manatt, Phelps & Phillips, 10, 27Maples and Calder, 50Maupin, Cox & LeGoy, 58Mayer Brown, 10, 29, 42, 48, 49, 52, 53, 54
Law Firm Index
E Edwards Wildman Palmer, 16, 33, 54Epstein Becker & Green, 18, 33, 49Eversheds, 44
F Faegre & Benson, 20, 31Fenwick & West, 10, 27Finnegan, Henderson, Farabow, Garrett & Dunner, 10, 27Fish & Richardson, 8, 25, 38Fisher & Phillips, 22, 31Fitzpatrick, Cella, Harper & Scinto, 12, 29Foley & Lardner, 12, 29, 42Foley Hoag, 12, 28Foster Pepper, 54Fox Rothschild, 18, 32, 58Fragomen, Del Ray, Bernsen and Loewy, 6, 30Freeborn & Peters, 58Freehills, 42, 55Freshfields Bruckhaus Deringer, 36, 48Friday, Eldredge & Clark, 54Fried, Frank, Harris, Shriver & Jacobson, 6, 26, 38, 48, 49, 56, 58Frost Brown Todd, 22, 33Fulbright & Jaworski, 16, 28, 44, 54, 55
G Gardere Wynne Sewell, 14, 28Garrigues, 40, 55Gibbons, 16, 31Gibson, Dunn & Crutcher, 4, 24, 36, 48, 51, 52, 58Gilbert + Tobin, 49Gilmore & Bell, 54Godfrey & Kahn, 58Goodwin Procter, 8, 25, 40, 49, 51, 57Gordon & Rees, 18, 33Goulston & Storrs, 20, 29GrayRobinson, 22, 31, 58Greenberg Traurig, 8, 26, 40, 48, 55, 58Groom Law Group, 57
H Hahn Loeser & Parks, 58Han Kun Law Offices, 50Harney Westwood & Riegels, 51Hawkins Delafield & Wood, 54, 55Haynes and Boone, 16, 30, 58Herbert Smith, 40, 55Herrick, Feinstein, 12, 29Hinshaw & Culbertson, 20, 32, 58Hodgson Russ, 22, 33Hogan Lovells, 10, 28, 42, 48, 55, 56, 57Holland & Hart, 22, 32Holland & Knight, 14, 29, 44Honigman Miller Schwartz and Cohn, 16, 25, 58
Law Firm Index
64 • ZGuide ZGuide • 65
R Reed Smith, 12, 29, 42, 58Richards, Layton & Finger, 50, 58Robins, Kaplan, Miller & Ciresi, 16, 29Robinson & Cole, 22, 33Roetzel & Andress, 22, 33Ropes & Gray, 8, 26, 38, 49
S Salans, 44Saul Ewing, 20, 31Schiff Hardin, 14, 27Schulte Roth & Zabel, 4, 24, 36, 49, 58Sedgwick, 16, 33Seyfarth Shaw, 14, 30, 44Shearman & Sterling, 6, 27, 38, 48, 51, 52, 53, 55Sheppard Mullin Richter & Hampton, 10, 27, 40Shook, Hardy & Bacon, 10, 28Shumaker, Loop & Kendrick, 56Sidley Austin, 6, 26, 38, 50, 52, 53, 54, 55, 56, 57Sills Cummis & Gross, 14, 30Simmons & Simmons, 44Simpson Thacher & Bartlett, 4, 24, 36, 48, 49, 50, 51, 52, 53, 57SJ Law, 55Skadden, Arps, Slate, Meagher & Flom, 4, 24, 36, 48, 49, 50,
52, 53, 55, 56, 57, 58Slaughter and May, 36Snell & Wilmer, 14, 29SNR Denton, 16, 33, 54Sonnenschein Nath & Rosenthal, 44Squire Sanders, 16, 33, 44, 54, 55, 58Steptoe & Johnson, 12, 28, 42Stevens & Lee, 12, 25Stikeman Elliott, 49Stinson Morrison Hecker, 20, 30Stoel Rives, 20, 30Stradley Ronon Stevens & Young, 54Stradling Yocca Carlson & Rauth, 54, 55Stroock & Stroock & Lavan, 10, 26Stutzman, Bromberg, Esserman & Plifka, 58Sullivan & Cromwell, 4, 24, 36, 48, 50, 51, 52, 56, 57Sullivan & Worcester, 16, 28, 51, 56Sutherland Asbill & Brennan, 12, 27
T Thompson & Knight, 12, 27Thompson Coburn, 20, 29Thompson Hine, 20, 32Togut, Segal & Segal, 58Torys, 49Troutman Sanders, 16, 30, 44Tucker Ellis & West, 58
McCall, Parkhurst & Horton, 54, 55McCarter & English, 18, 32McCarthy Tetrault, 49McDermott Will & Emery, 8, 25, 38, 49McElroy, Deutsch, Mulvaney & Carpenter, 12, 33McGuireWoods, 12, 30, 42, 55McKenna Long & Aldridge, 12, 30Messana, 58Michael Best & Friedrich, 20, 31Milbank, Tweed, Hadley & McCloy, 4, 24, 36, 51, 55, 58Miller Canfield, 22, 33Minter Ellison, 42Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, 12, 28Moore & Van Allen, 14, 28Morgan, Lewis & Bockius, 8, 27, 40, 48, 52, 57, 58Morris, Manning & Martin, 14, 27Morris, Nichols, Arsht & Tunnell, 57, 58Morrison & Foerster, 8, 27, 40Munger, Tolles & Olson, 10, 24
N Neal, Gerber & Eisenberg, 58Nelson Mullins Riley & Scarborough, 18, 30Nixon Peabody, 16, 30, 44, 54, 55Norton Rose, 44, 55Nossaman, 55
OOgletree, Deakins, Nash, Smoak & Stewart, 20, 33O'Melveny & Myers, 6, 26, 38, 49Orrick, Herrington & Sutcliffe, 8, 28, 40, 54, 55Osborn Maledon, 57
P Pachulski Stang Ziehl & Jones, 57Parker, Hudson, Rainer & Dobbs, 58Patterson Belknap Webb & Tyler, 6, 26Patton Boggs, 14, 29Paul Hastings, 6, 25, 38, 57, 58Paul, Weiss, Rifkind, Wharton & Garrison, 4, 24, 36, 49, 51Peck, Shaffer & Williams, 54, 55Pepper Hamilton, 16, 29Perkins Coie, 12, 28, 42Phelps Dunbar, 22, 33Pillsbury Winthrop Shaw Pittman, 12, 27, 42Polsinelli Shughart, 20, 32Porter Wright Morris & Arthur, 20, 32Proskauer Rose, 6, 26, 38, 49
QQuarles & Brady, 22, 32, 54Quinn Emanuel Urquhart & Sullivan, 4, 24, 36, 58
Law Firm Index
66 • ZGuide ZGuide • 67
ZEUGHAUSER GROUP is the firm of choice for legal industry leaders seeking to increase their competitive advantage and profitability, enhance market position, and strengthen organizational culture.
STRATEGIC GROWTH SERVICES
•MergersandAcquisitions
•StrategicGrowthPlanningatthe
Firm,Practice,Industry,and
OfficeLevels
•Governance,Structure,Profitability,
Pricing,andCompensationCounseling
STRATEGIC MARKETING SERVICES
•StrategicMarketingandBusiness
DevelopmentPlanningatthe
Firm,Practice,Industry,Office,and
ClientLevels
•PositioningStrategiesandBranding
Programs
•ClientService,Satisfaction,and
TeamingPrograms
•MarketingOrganizationalModels
andAssessments
LEADERSHIP ROUNDTABLES
•ZGLeadershipRoundtableforLaw
FirmChairsandManagingPartners
•ZGLeadershipRoundtablefor
Chief MarketingOfficers
•ZGLeadershipRoundtablefor
Chief OperatingOfficers
V Van Doorne, 50Vedder Price, 16, 27Venable, 14, 28, 44, 56Vinson & Elkins, 10, 26, 40, 48, 49, 50, 51, 52, 53, 55Vorys, Sater, Seymour and Pease, 22, 33
W Wachtell, Lipton, Rosen & Katz, 4, 24, 36, 48, 49Walkers, 51Weil, Gotshal & Manges, 4, 24, 36, 48, 49, 57, 58White & Case, 8, 31, 38, 49, 52, 53, 55, 57Wiley Rein, 12, 25Williams & Connolly, 10, 24Williams Mullen, 22, 32Willkie Farr & Gallagher, 4, 25, 36Wilmer Cutler Pickering Hale and Dorr, 8, 25, 40, 51, 58Wilson Elser Moskowitz Edelman & Dicker, 18, 33, 44Wilson Sonsini Goodrich & Rosati, 6, 27, 38, 50, 51Winstead, 16, 28Winston & Strawn, 8, 27, 40, 50, 54, 55Womble Carlyle Sandridge & Rice, 18, 30
Y Young Conaway Stargatt & Taylor, 57
Law Firm Index
ZE
UG
HA
US
ER
GR
OU
P’S
2012 PO
CK
ET
GU
IDE
TO
LEA
DIN
G LA
W FIR
MS
RON BEARD [email protected] t: 949•360•0122 m: 949•887•3296
MOZHGAN MIZBAN [email protected] t: 415•868•0100 m:415•279•4584
NORM RUBENSTEIN [email protected] t: 202•596•6760 m:202•256•2668
JACK WALKER [email protected] t: 323•664•2881 m:213•215•5871
MARY K YOUNG [email protected] t: 301•320•1518 m:301•346•9878
PETER ZEUGHAUSER [email protected] t: 949•760•6800 m:949•878•7444
KENT ZIMMERMANN [email protected] m:312•810•8008
LONNIE ZWERIN [email protected] t: 415•387•4623 m:415•307•4623
UIDE UIDE
UIDE
UIDEUIDE