Silver Circle (law firms)

The Silver Circle is a group of elite corporate law firms headquartered in London, United Kingdom. The firms are each outside the Magic Circle, and have a lower turnover than the members of that group, but consistently have an average profits per equity partner (PEP) and average revenue per lawyer (RPL) far above the UK average.[1][2][3] The term was 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, Macfarlanes and Travers Smith.[1] Their 2012/13, 2013/14, and 2014/15 turnover and profits per equity partner are shown below:

# Law firm Turnover (2012/13)[4] Profits per equity partner (2012/13)[4] Turnover (2013/14) Profits per equity partner (2013/14) Turnover (2014/15) Profits per equity partner (2014/15)
9 Herbert Smith Freehills £671m £784,000 £800m £741,000 £815m £801,000
13 Ashurst £323m £680,000 £586m £801,000 £561m £747,000
17 Berwin Leighton Paisner £233m £401,000 £246m £542,000 £259m £659,000
29 Macfarlanes £114m £989,000 £139.75m £1,200,000 £159.6m £1,550,000
41 Travers Smith £86m £790,000 £97.2m £882,000 £106m £935,000

Hogan Lovells, Norton Rose Fulbright and Simmons & Simmons are also sometimes included as members of the group.[5]

See also

References

  1. 1 2 "Ashurst, Herbies ride out tough year; BLP, Macfarlanes, SJ Berwin succumb". The Lawyer. 14 July 2008. Retrieved 25 October 2010.
  2. ↑ "Silver Circle". The Lawyer. 3 September 2007. Retrieved 25 October 2010.
  3. ↑ Fletcher, Martin (28 August 2005). "'Silver circle' firms upset the legal order". London: The Times. Retrieved 25 October 2010.
  4. 1 2 http://www.thelawyer.com/analysis/intelligence/uk-200-2013-free/uk-200-financial-data/3011203.article
  5. ↑ "Benchmarking the supply of legal services by city law firms" (PDF). Charles River Associates. Retrieved 9 January 2017.
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