Silver Circle
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The Silver Circle is a group of corporate law firms headquartered in London, United Kingdom which are each outside of the Magic Circle, and have a substantially lower turnover than the members of that group, but have an average profit per equity partner (PEP) and average revenue per lawyer (RPL) considerably above the UK average.[1][2][3] The term was first coined by The Lawyer magazine in 2005.
Composition
As defined by The Lawyer magazine, the Silver Circle comprises Ashurst, Berwin Leighton Paisner, Herbert Smith Freehills, King & Wood Mallesons SJ Berwin, Macfarlanes and Travers Smith.[1] Their 2010/11 turnover and profits per equity partner is shown below:
| # | Law firm | Turnover (2010/11)[4] | Profits per equity partner (2010/11)[4] |
|---|---|---|---|
| 8 | Herbert Smith (now Herbert Smith Freehills) | £465.1m | £900,000 |
| 11 | Ashurst (now merged with Blake Dawson) | £303m | £723,000 |
| 13 | Berwin Leighton Paisner | £229m | £712,000 |
| 19 | SJ Berwin (now King & Wood Mallesons SJ Berwin) | £179m | £626,000 |
| 32 | Macfarlanes | £94.7m | £752,000 |
| 43 | Travers Smith | £72m | £750,000 |
See also
- Magic Circle, referring to the five leading UK-headquartered law firms;[5][6] also used to describe what are often perceived to be the top four Commercial Chambers at the Bar[7]
- Big Five, referring to the five largest South African law firms.
- Seven Sisters, referring to the seven Canadian law firms considered to be the top tier.
- Big Six, referring to six Australian law firms perceived to be of the top tier.
- White shoe firms or Charmed Circle, referring to law firms perceived to be the leading New York City law firms.
References
- ↑ 1.0 1.1 "Ashurst, Herbies ride out tough year; BLP, Macfarlanes, SJ Berwin succumb". The Lawyer. 14 July 2008. Retrieved 25 October 2010.
- ↑ "Silver Circle". The Lawyer. 3 September 2007. Retrieved 25 October 2010.
- ↑ Fletcher, Martin (28 August 2005). "'Silver circle' firms upset the legal order". London: The Times. Retrieved 25 October 2010.
- ↑ 4.0 4.1 http://www.thelawyer.com/1009501.article
- ↑ Fortado, Lindsay (8 July 2010). "Clifford Chance Regains Top U.K. Law Firm Spot as Revenue, Mergers Dwindle". Bloomberg. Retrieved 25 October 2010.
- ↑ "The Global 100: Magic Circle Firms Have the Magic Touch". The American Lawyer. 27 September 2007. Retrieved 25 October 2010.
- ↑ "Set for a fight". The Lawyer. 26 June 2000. Retrieved 25 October 2010.
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