Baker & McKenzie has lost its position as the world’s top-grossing law firm, despite posting yet another record financial performance in its most recent fiscal year.
Baker’s gross revenues increased 4.6 percent in the fiscal year ended June 30, 2013, to an all-time high of $2.42 billion, the firm announced Wednesday. Nonetheless, after heading The American Lawyer’s Global 100 revenue rankings for the past three years, Baker will place second in the 2013 survey—to be published in the October 2013 issue—to DLA Piper, which saw its revenue increase 8.6 percent last year, to $2.44 billion. (DLA tallies its financials on a calendar-year basis.)
