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Baker McKenzie Named World’s Best Law Firm Brand

Leading global law firm Baker McKenzie has been named as the best law firm brand for the 10th consecutive year by Acritas’ Global Elite Law Firm Brand Index. The Firm once again ranked top for each of the measures that make up the Index – awareness, favorability, consideration for multi-jurisdictional deals and for multi-jurisdictional litigation. Baker McKenzie also once more widened its lead over its nearest competitor, receiving an overall score of 100, which is 57 points ahead of the firm ranked in second place

The ranking is based on interviews with 1,596 senior legal buyers across the world’s largest multinationals with revenues in excess of $1bn.

Milton Cheng, Global Chair of Baker McKenzie, said, “Market disruption is an accepted reality for business, as new competition and technologies drive the pace of change faster than ever before. Our clients want lawyers who are prepared to lead, differentiate and adapt in a constantly changing world.

“We are unquestionably the leading cross-border law firm that large, global clients trust for complex transactional and other matters involving multiple jurisdictions. That’s why we are top of mind across so many countries and areas of law. Topping this ranking for the tenth consecutive year underlines that.”

Lisa Hart Shepherd, vice president of Research and Advisory Services at Thomson Reuters, commented: “For firms, choosing an overarching focus and sticking with it is essential to developing a differentiated brand. Baker McKenzie has shown that commitment to a long-term strategy that is in line with evolving client needs will deliver financial success. This strategic focus on global reach makes for a clear purpose that its people can get behind and that its clients can easily understand.“

Baker McKenzie Announces Global Carbon Emissions Reduction Targets

Today Baker McKenzie announces a plan to significantly reduce its global carbon emissions over the next decade.  The reductions are part of the Firm’s wider sustainability strategy and support of the UN Sustainable Development Goals.

The Firm commits:

  • To reduce its emissions from energy consumption* by 92% by 2030 (from a 2019 baseline)
  • To develop a strategy and target by 2021 to lower emissions from its business air travel; and
  • To report its emissions with the Carbon Disclosure Project starting in 2020.

“Climate change is one of the most pressing issues facing humanity,” says Global Executive Committee member Ai Ai Wong who is also Chair of the Firm’s Asia Pacific Region and the Global Environmental Committee. “Limiting warming requires everyone – including Baker McKenzie — to take action to reduce their greenhouse gas emissions, without delay. We are setting targets to drive better environmental performance across our global operations, and to clearly demonstrate our commitment.”

“These targets are part of the Firm’s continuing effort to integrate sustainability meaningfully into our strategy and operations,” added Christie Constantine, Baker McKenzie’s Global Director of Sustainability.

“Climate change is a priority and a concern for many people at our Firm, as well as for our clients and the communities where we do business.  Our various stakeholders want to know that we are part of the solution.” Constantine, who has been with Baker McKenzie since 2013, was appointed to the newly created Global Director of Sustainability role earlier this year, reflecting the Firm’s commitment to sustainability.

Last year, the Firm launched a refreshed global sustainability strategy, centered on the environmental, economic, social and governance issues most material to the Firm as identified by more than 1400 stakeholders. Additionally, Baker McKenzie has prioritized a number of the UN Sustainable Development Goals linked to these issues which it will focus on over the next ten years. This includes Goal 7 (clean and affordable energy); Goal 12 (responsible consumption and production); and Goal 13 (climate action).

The Firm plans to lower its energy consumption through improvements in the energy efficiency of its offices (including a shift to green buildings over time), as well as via procurement of renewable energy credits.

With respect to business air travel, which is the Firm’s biggest emissions source, in addition to lessening non essential travel, Baker McKenzie will assess investments in enhanced video conferencing technology and redesign key meetings and events to make virtual attendance viable. The Firm currently offsets all business air travel associated with its annual and regional partners meetings, using offsets that provide social benefits in addition to carbon abatement, such as reducing poverty, improving health, empowering women, job creation, or other benefits to local communities.

The new targets build on successive efforts by the Firm to make its operations more environmentally sustainable in recent years. In 2017, Baker McKenzie launched B-Green, a program designed to help its offices around the world to “green” their operations. The program provides a road map for each office to follow, along with tools and guidance to help them measure, evaluate and incrementally improve their environmental performance.

The Firm also strives to contribute to environmental sustainability through strategic partnerships (for example, it was the first law firm to join both the World Business Council for Sustainable Development and the Carbon Pricing Leadership Coalition);  pro bono and community service initiatives; and through the work of its award winning Climate, Environment and Energy practice groups.

* This covers Baker McKenzie’s “scope 1 and scope 2” emissions.  The Green House Gas (GHG) Protocol (the international standard for corporate emissions accounting and reporting which Baker has followed in its own emissions tracking and calculations) classifies emissions by so-called scopes, with scope 1 emissions being direct emissions from owned or controlled sources and scope 2 emissions being indirect emissions from the generation of purchased energy.

Baker McKenzie Reshuffles Asia Practice

Baker McKenzie has appointed new leaders for seven of its Asia Pacific practice and industry groups. The new heads will join 12 other continuing practice and industry group leaders in the region on July 1.

The Tokyo office will see most changes in this round of leadership shuffle; four of the five incumbent practice and industry leaders in the office will step down leaving one Tokyo partner among the newly appointed leaders. Singapore-based Emmanuel Hadjidakis will replace Tokyo-based Gavin Raftery as Asia Pacific chair of banking and finance, while Kuala Lumpur-based Brian Chia will replace Tokyo-based Hideo Norikoshi as regional M&A chair.

Singapore-based Nandakumar Ponniya will take over from Tokyo-based Yoshiaki Muto as regional dispute resolution chair, while Sydney-based Anne Petterd will succeed Tokyo-based Kana Itabashi as regional chair of the firm’s international commercial and trade practice.

The one remaining Tokyo-based regional head will be Yaeko Hodaka, chair of the Asia Pacific industrials, manufacturing and transportation industry group. Hodaka will now share her duties with Shanghai-based Cherrie Shi, who works under Baker McKenzie’s special alliance with local firm FenXun Partners in the Shanghai Free Trade Zone.

Shi will join Shanghai-based Brendan Kelly, regional chair of the firm’s tax practice, and Beijing-based Bee Chun Boo, regional chair of the energy, mining and infrastructure industry group, to make a total of three regional heads in China.

The Singapore office will see its importance boosted with the addition of two new heads to make a total of five, the three other partners continuing in their leadership roles being Stephanie Magnus, Kelvin Poa and Martin David, regional chairs of the financial institutions industry group, private equity, and projects respectively.

The number of practice and industry leaders in Hong Kong office will be unchanged at four, with three regional heads there continuing in their positions, namely Ivy Wong, Stephen Crosswell and LokeKhoon Tan, chairs of capital markets, antitrust and competition, and the consumer goods and retail industry group respectively. The only change there involves a shift in role for Isabella Liu, who will replace Bangkok-based Say Sujintaya as regional chair of the firm’s intellectual property and technology practice following a stint as regional chair of the healthcare and life science industry group.

The healthcare and life science group will be led by Sydney-based Elisabeth White, who along with Petterd will bring the number of regional heads in Australia up to five. The three continuing regional heads are Adrian Lawrence, Michael Michalandos and Bruce Webb, chairs of TMT, employment, and real estate respectively.

“I am delighted to welcome our new practice and industry group leaders to the leadership team. What is particularly exciting is that among the seven new Asia Pacific leaders, four are women,” said Baker McKenzie’s Asia Pacific chair Ai Ai Wong.

Wong was appointed to her current position in 2018 when Baker McKenzie reshuffled its overall leadership in Asia Pacific. There have been changes among those leaders since then. Last year, Hong Kong partner Milton Cheng, then managing partner for the firm’s Hong Kong and mainland China offices, became the firm’s first-ever Asia-based global chairman. The China offices are now run by Hong Kong-based partner Steven Sieker, who previously led the firm’s regional tax practice.

 

The New Lawyers: Our Story

Baker McKenzie Announces Record Global Revenues of $2.92 Billion

  • Revenues up 4.4% with growth in all regions

  • PPP up 3%

  • Major program to drive global digitization and optimal client service delivery

  • Leading the sector for our people through Diversity & Inclusion

Baker McKenzie, the leading global law firm, has announced record revenues for the fiscal year ended 30 June 2019 (FY19) of $2.92 billion. In terms of constant currency, Baker McKenzie’s revenues were up 4.4% compared to the previous year. In US dollar terms, the Firm’s reporting currency, this translates into growth of 1.2%, after the effect of adverse currency exchange.

Baker McKenzie remains the most geographically diverse global law firm and all of our regions recorded growth as follows: EMEA +5.2%, AP +2.1%, LA +9.0% and NA +4.0%

All of our key financial metrics improved over last year: revenue growth, net income, profit margin, Profits per Partner (PPP), Revenue per Partner and Profits per Lawyer. We are especially pleased to accomplish this amid a market with flat demand. PPP was up by 3% to $1.48 million in US dollars. Overall net income or profit rose by 2% to $1 billion. Over the last decade the Firm has grown by 40% in terms of revenue and 50% in terms of PPP, outperforming most of our competitors.

Among our standout markets, all with significant double-digit growth, include Bogota, Buenos Aires, London, Prague, Turkey and Warsaw.

Baker McKenzie Acting Chair Jaime Trujillo says, “Recording 4.4 percent growth in a market as challenging as this while maintaining our commitment to all of our offices and our full service offering is a good result. The investments the Firm continues to make in legal services, the centers of excellence we have opened in lower-cost locations, and more effective partnering with clients, supported by long-term investments in industry, practice and client programs have enabled us to show profitable growth.

“This is despite the distinct geopolitical head winds throughout the second half of the year, which prompted our clients to cancel or postpone projects. We are also one of the most geographically diverse professional services firms in the world, both one of our key strengths, and at times a challenge in markets impacted when the US dollar is so strong, as it was this past year.”

HONG KONG HK

Baker McKenzie Elects Milton Cheng as Next Chair

Leading global law firm Baker McKenzie is proud to announce that following a vote of its partnership, Milton Cheng has been elected as the next Chair of the Firm.

Based in Hong Kong, Milton is the Managing Partner of the Hong Kong office and concurrently the Chief Executive overseeing Baker McKenzie’s offices and businesses across eight countries in the Asia Pacific region.

Milton has considerable experience in mergers and acquisitions, real estate investment trusts, financial services regulation, corporate finance and corporate restructurings. He regularly advises clients — including REIT and other asset managers, financial institutions, multinationals and Hong Kong-listed groups — on a wide range of acquisition, REIT, restructuring, regulatory and corporate finance matters.

A graduate of King’s College London, Milton became a partner of Baker McKenzie in 1999 and is admitted to practice in Hong Kong and in England & Wales. He is the Firm’s first Asian Chair.

Milton Cheng, Chair-elect of Baker McKenzie said, “I am truly honored by the trust my fellow partners have placed in me. I look forward to working with all of them and my colleagues across the world to build on the great work of my predecessors to make Baker McKenzie the global law firm of choice.”

Milton, who will serve in the role for four years, takes up the position with effect from October 17, 2019 succeeding Jaime Trujillo, who has been Acting Global Chair since October 2018.

Jaime said, “We had a group of outstanding candidates for our next Chair and the partners had a difficult decision to make. In choosing Milton we have someone who can take this great Firm to the next level. I offer him my sincerest congratulations.”

LDN PHOTO

Working at Baker McKenzie

We are different from other law firms in the way we think, work and behave. Global in our outlook from the beginning, for six consecutive years we have been named as the world’s strongest law firm brand by Acritas, underlining our dedication to being the best. We know the value of our talent in sustaining this success and so we’re committed to offering the platform to nurture this talent.

Baker & Mckenzie

Baker McKenzie Advises Monomoy on Engineering Acquisition

Baker McKenzie advised private investment firm Monomoy Capital Partners in its acquisition of Kauffman Engineering Inc., an Indiana-based manufacturer of wire harnesses and cable assemblies for electrical systems.

Founded in 1973, Kauffman operates about 20 facilities across the United States and Mexico and serves clients across the HVAC, commercial equipment, specialty vehicle, lawn care, marine, medical and other industrial markets.

“We partner with our private equity clients to add value wherever we can and ensure a smooth process in negotiating and closing deals, so they are able to realize as much growth as possible. We are pleased to help Monomoy do just that in this acquisition,” said Michael Fieweger, Baker McKenzie’s lead M&A partner on the transaction.

Baker McKenzie has the world’s largest M&A practice, with nearly 1,400 lawyers executing more cross-border transactions than any other law firm.

The Baker McKenzie team included Michael Fieweger, Garry Jaunal and Emeka Chinwuba.

About Monomoy Capital Partners

Monomoy Capital Partners is a private equity firm with $1.5 billion in committed capital that invests in middle-market businesses in the manufacturing, industrial, distribution and consumer products sectors. The firm invests in the both the equity and debt of middle-market businesses that can benefit from operational and financial improvement. Monomoy designs and executes a customized value creation plan for each acquisition that seeks to generate significant cash flow and improve earnings within 12 to 18 months of an investment. Over the past 14 years, Monomoy has closed over 50 middle-market acquisitions. To learn more about Monomoy and its portfolio companies, please visit the firm’s website at www.mcpfunds.com.

 

Baker McKenzie Named Mainland Europe’s Strongest Law Brand

Leading Global law firm Baker McKenzie has been named Europe’s strongest law brand in the 2018 Acritas Mainland Europe Index.

The Firm received an overall score of 100 – nearly 30 points ahead of the firm that ranked second place – and ranked top for awareness, favourability, top level engagement, multi-jurisdictional deals, multi-jurisdictional litigation, high value usage and inbound usage. The Firm ranked number one in France and Russia, and placed high in Germany, Spain and Italy.

Constanze Ulmer-Eilfort, Baker McKenzie’s Chair of the EMEA region, said: “To be named the top legal brand in Europe is an outstanding endorsement of the work we do and is welcome validation from the European market of the progress we have made. We’ve built our business around investing in our client relationships and innovating to stay relevant to clients so we’re delighted that commitment has been recognised by senior legal buyers across Europe.”

Ranking is based on the responses of 448 senior legal buyers, based in Mainland Europe about their organization’s overall legal needs, and a further 311 senior legal buyers about their international needs in the key jurisdictions of France, Germany, Netherlands, Russia and Spain.

Esteban Raventós, a member of the Firm’s Global Executive Committee, said: “Brands are built upon trust, and in professional services trust is built through excellent service and expertise. We’re pleased to be recognised for the depth of our practice in mainland Europe and our unique ability to deliver global perspectives and local expertise simultaneously.”

The Firm’s European ranking follows Acritas naming Baker McKenzie the strongest global law firm brand in its Global Elite Law Firm Brand Index for the ninth year in a row. In the global survey, the Firm ranked at the top for each of the measures in the Acritas Index – awareness, favourability, consideration for multijurisdictional deals and for multijurisdictional litigation.

Switzerland

PSP Swiss Property optimizes its real estate portfolio

Leading global law firm Baker McKenzie has advised PSP Swiss Property (PSP) on the acquisition of the so-called “Carba Portfolio” in Bern-Liebefeld, valued at CHF 180.5 million, which was purchased by a share deal.

The portfolio consists of several properties with approximately 36’000 m2 of usable floor space; it offers state-of-the-art and representative premises for offices and services as well as attractive commercial space. The “Carba portfolio” is practically fully let and generates a gross yield of 3.9%.

“We are very pleased to have supported PSP in their acquisition of their real estate portfolio with our legal and tax expertise,” commented Martin Furrer, partner in Zurich.

PSP Swiss Property owns a real estate portfolio worth CHF 7.4 billion in Switzerland’s main economic areas; its market capitalisation amounts to CHF 4.7 billion. The 92 employees are based in Geneva, Olten, Zug and Zurich. Since March 2000, PSP Swiss Property has been listed on the SIX Swiss Exchange

Baker McKenzie provided comprehensive advice to PSP with regard to all legal and tax aspects of the acquisition and during negotiations. The Baker McKenzie team comprised Martin Furrer (Partner Zurich), Samuel Marbacher (Partner, Zurich) as lead partners, Mario Kumschick, Selina Mani, Valeria Knöpfel, Michael Zeller, Cathrin Marxer, Basil Kirby, Philippe Monnier and Andrea Puricelli.