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Baker McKenzie Named Best Firm for Women in Business Law

Leading global law firm Baker McKenzie took home three awards at Euromoney’s European Women in Business Law 20120 event last night, including overall Best International Firm for Women in Business Law for the fourth year running.

The awards, which took place virtually this year, due to COVID-19, recognise individual lawyers at the top of their chosen fields, and firms that have shown outstanding commitment to the development of women in the legal profession.

Baker McKenzie was also named Best International Firm for Gender Diversity, and Corinne Schot, Managing Partner of the Firm’s Amsterdam office, was named Structured Finance and Securitisation lawyer of the year.

Speaking after the ceremony, Baker McKenzie’s Global Chair of Diversity & Inclusion, Constanze Ulmer-Eilfort, said, “I am so proud of the work our firm does to champion women in the workplace and these awards reflect our continued commitment to advancing diversity and inclusion at Baker McKenzie and in the legal profession. Last year, we became the first global law firm to announce global aspirational targets set at 40:40:20 per cent gender diversity, so I am delighted that our work is continuing to be recognised. Congratulations to our winners and nominees on this well-deserved recognition.”

Beatriz Araujo appointed Fellow by the World Economic Forum

Leading global law firm Baker McKenzie has announced that Beatriz (Bea) Araujo has been appointed as a Fellow to the World Economic Forum’s Platform on Shaping the Future of Investing. She will form part of a coalition of over 100, including companies, policy-makers, pension funds, asset managers and insurance companies, to drive consensus on investment reforms that address global challenges.

Bea is a partner based in Baker McKenzie’s London office and has more than 35 years of experience leading on and advising clients on business critical transactions and matters. Her practice focuses on corporate governance best practices, including board advisory, director duties, stakeholder governance and subsidiary governance, for both UK companies as well as global groups. She has supported the World Economic Forum as an expert on governance projects and has written various articles on corporate governance topics, most recently a White Paper in collaboration with the World Economic Forum on “The Modern Dilemma: Balancing Short- and Long-Term Business Pressures.” In her new role, Bea will have a number of responsibilities, including:

  • Creating institutionally valuable and relevant content and bring it to Forum’s most prominent communities;
  • Guiding the platform content around stakeholder capitalism and its impact on governance;
  • Guiding specific platform projects like “Future of the Corporation” in context of the Fourth Industrial Revolution (“4IR”) and the current pandemic situation;
  • Contributing to forthcoming Forum publications for the platform.

Speaking after the announcement, Bea said, “I am honoured to have been appointed as a fellow by the World Economic Forum’s leadership, having collaborated with the Forum for many years, both during my time serving on Baker McKenzie’s Executive Committee, and subsequently as the Firm’s leader on Corporate Governance. I hope to bring my years of expertise in to help shape the conversation on the future of governance as part of the Forum’s Great Reset.”

“The impact of COVID-19 has affected industries around the world and given new importance to sustainable investing. Public private cooperation is needed now more than ever in the investing industry,” says Maha Eltobgy, Head of the Future of Investing, World Economic Forum. “We are eager to work with top companies such as Baker McKenzie on the opportunities and challenges ahead.”

Baker McKenzie partners with Terre des hommes

Leading global law firm Baker McKenzie has partnered with international children’s rights organisation Terre des hommes, to create a resource which aims to accelerate the release of children from detention around the world, during COVID-19. The web page, which includes a policy and practice brief, as well as operational guidelines, aims to provide urgent guidance to those working in youth justice.

The resources provided summarise international legal instruments and regional mechanisms that are relevant to evaluating the circumstances of children in these settings, and present a set of policy recommendations, illustrated by practical examples of rapid response actions to realise children’s fundamental rights.

This advocacy project is part of a wider new initiative launched by Terre des hommes, justicewithchildren.org, which aims to:

  • Make children’s rights effective worldwide;
  • Promote access to justice and participation of children in formal, and informal justice systems;
  • Improve the connection between justice for children and child protection systems;
  • Assess the use of deprivation of liberty and promoting non-custodial measures worldwide;
  • Exchange practice-oriented strategies to reduce and prevent juvenile crime and proposing effective responses to recidivism.

The advocacy and voices pages, joint products of Terre des hommes and Baker McKenzie, bring recommendations for policy makers through a policy and practice brief, and give technical advices for professionals thanks to operational guidelines for security forces, legal professionals and the social workforce.

Speaking after the website launch, Angela Vigil, North America Director of Pro Bono at Baker McKenzie, said, “We are so proud to partner with Terre des hommes on such a worthy project. We need to protect children from COVID, and accelerating the release of those currently in detention is a vital step in doing so.”

Cedric Foussard, Advocacy and Global Learning at Terre des hommes and Global Initiative on Justice with Children coordinator, points out the potential of this partnership: “It combines the expertise and experience from both organisations to achieve a common goal: to protect/defend the rights of children in contact with the law and to encourage their participation.”

Baker McKenzie forms Global Task Force on Racial and Ethnic Diversity

Leading global law firm Baker McKenzie announces new Global Race & Ethnicity Task Force which will work across the Firm’s 77 offices in 46 countries and in concert with our efforts at a regional level, to help implement and operationalise programs to advance racial and ethnic diversity.

The Task Force will be led by Miguel Noyola based in our Chicago office and members include Claudia Benavides (Bogota), Anna Brown (New York), Sunny Mann (London), Anna Mello (Rio de Janeiro), Yoshiaki Muto (Tokyo), Veleka Peeples-Dyer (Washington DC), Joyce Smith (San Francisco), Kate Stonestreet (London) and Constanze Ulmer-Eilfort (Munich).

The Task Force will oversee allyship and anti-racism training; sponsorship of our Black colleagues and members of other underrepresented racial and ethnic groups; and a review of our recruitment and client programs. This work will also closely be connected to our program on social mobility and diverse pipeline efforts and will help progress other important D&I programs.

Constanze Ulmer-Eilfort, Chair of the Firm’s Global Diversity & Inclusion Committee commented: “Advancing Racial and Ethnic diversity has always been one of our most important D&I priorities and this Task Force will strive to effect change and to really make a difference. As a Firm we are proud of what we have achieved together on gender diversity and on LGBT+ inclusion. We can and must also make similar progress on racial and ethnic diversity.

“Change starts from within, and we must all embrace the need for change together. We are encouraging everyone to learn, reflect and work to become a more active ally. We need to open our minds and our hearts to the experiences of our Black community — there is so much for us to learn, to understand, and to reflect upon before change happens.”

If you would like to find out more information, please visit https://www.bakermckenzie.com/en/

Baker McKenzie announces 84 partnership promotions

Leading global law firm Baker McKenzie is pleased to announce that 84 of our colleagues have been promoted to partner. Promotions take effect from 1 July.

Across the law firm’s practice groups globally, Tax and Dispute Resolutions saw the largest intake of new partners, with M&A also significantly adding to their numbers.

During Financial Year 2020 Baker McKenzie also added 68 lateral partner hires, demonstrating the Firm’s continued commitment to investing in top talent across the globe. Combining this year’s promotions and new lateral talent, the law firm added 152 partners to its ranks.

Milton Cheng, Global Chair of Baker McKenzie, said: “Congratulations to all of our new partners. Welcoming 152 new partners, both home-grown and lateral, over the last 12 months is a clear sign of the importance we place in the long-term growth strategy of the law firm. I wish them all the best in their future career with Baker McKenzie.”

Baker McKenzie announces record global revenues of $2.92B

Baker McKenzie 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 centres 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.”

Our Future

Jaime concludes, “There have been moments in the past year when the Firm was tested as much as it has been in our 70-year history, but I am extremely proud of how we have come together and dealt with the issues that we have faced. Neither has it been an easy 12 months for the profession as a whole, with softening client demand as a result of geo-political uncertainty, an increasingly competitive market with new entrants and a declining overall market. It takes a Firm like ours with an enormous amount of resilience, experience and strong leadership from all our partners to be confident to face the challenges ahead.”