Baker McKenzie. 1329 Live Project Presentation. Ebba, Sahil, Mark, Oscar, Louise. 

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Presentation Overview. Assessing Baker McKenzie & the Law Industry. 

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Assessing Baker 
McKenzie & the Law 
Industry

Five strategies to maintain their 
market position

Executive Summary. Executive Summary. Executive Summary. 

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Assessing Baker McKenzie & the Law Industry. Assessing Baker McKenzie & the Law Industry. 

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Assessing
Baker McKenzie &
the Law Industry

Assessing 
Baker McKenzie & 
the Law Industry

SMART. Smart Technologies. Modern Workforce. Aggregated Data. 

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Brave
Courageous, Innovative, Work Together
Brilliant
Individuality, Distinctive, Drive
Kind 
Respect, Empathy, understanding

What Makes Baker McKenzie's
Approach Different

Asia Pacific  
EMEA              
Latin America 
North America

#1 World’s strongest 
law firm brand for 12

Baker McKenzie: Driving Growth and Innovation in the Legal Industry
Revenues
USD 3.3bn
Net income
USD 1.24bn
Regional Growth North America +12,1%
Latin America +4.1%
EMEA +3.4%
Asia Pacific +3.3%
Europe, Middle East, Africa
Most Profitable Region
Standout Practices
Private Equity
Antitrust &
Competition
Private Equity
Mergers &
Acquisitions
Real Estate
Standout Sectors
Technology,
Media &
Telecom
Healthcare &
Life Science
Energy, Mining & Infrastructure
Private Equity +25.7% Antitrust & Competition +10.2% M&A +9.2% TM&T +8.8% H&LS + 9.6% EMI 10.8% 65% Deals Cross Boarder
+ 5% from 2021
Country Presence
0
2
4
2012
2022
Revenue 2012-2022
+65%
Increase from 2012 to 2122
USD 2.3bn to 3.3bn
Worldwide for cross-
border M&A transactions in the last 15 years
#1. 

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Baker McKenzie: Driving Growth and Innovation in the Legal Industry
Revenues
USD 3.3bn
Net income
USD 1.24bn
Regional Growth 
North America +12,1%
Latin America +4.1%
EMEA +3.4%
Asia Pacific +3.3%
Europe, Middle East, Africa
Most Profitable Region
Standout Practices
Private Equity
Antitrust &
Competition
Private Equity
Mergers &
Acquisitions
Real 
Estate
Standout Sectors
Technology,
Media &
Telecom
Healthcare &
Life Science
Energy, Mining & Infrastructure
Private Equity +25.7%   Antitrust & Competition +10.2%   
M&A +9.2%  
TM&T +8.8%   H&LS + 9.6%   EMI 10.8% 
65% Deals 
Cross Boarder
+ 5% from 2021
Country Presence
0
2
4
2012
2022
Revenue 2012-2022
+65%
Increase from 2012 to 2122
USD 2.3bn to 3.3bn
Worldwide for cross-
border M&A transactions 
in the last 15 years
#1

How Baker McKenzie Can Maintain Its Edge in a Changing Legal Landscape. 

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How Baker McKenzie Can Maintain Its Edge in a 
Changing Legal Landscape

Systems for communication 
and feedback for clients

Increasing profitability 
even slightly across the 
board can have huge 
effects thanks to 
headcount

Navigating the Legal Industry Landscape and Preparation for the Future
The US remains as the largest market for legal services in the world. The top 100 leading law firms in the US generated a total revenue of almost $131 billion
in 2022.
Baker McKenzie lowest revenue compared to their three biggest competitors Baker McKenzie highest number of lawyers compared to their three biggest competitors 0
200
400
600
800
1000
1200
2025
2024
2023
2022
2021
2020
2019
2018
4795
4028
3078
3025
0
1000
2000
3000
4000
5000
6000
Baker McKenzie
DLA Piper
Latham & Watkins
Kirkland & Ellis
6,5
5,32
3,68
3,3
0
1
2
3
4
5
6
7
Kirkland & Ellis
Latham & Watkins
DLA Piper
Baker McKenzie
Industry size & Expected Growth
-0,2%
1,0%1,0%
-1,6%
3,7%
-0,1%
-2,0%
-1,0%
0,0%
1,0%
2,0%
3,0%
4,0%
Growth in Demand for Legal Services
After a post-pandemic upturn, the demand of legal services has once again started decreasing due to economic circumstances
Number of lawyers
Gross Revenue FY22 $bn
The Big 4 accounting firms –
Deloitte, EY, KPMG, and PwC –
are increasingly capturing share of the legal services market
Close to 24% of the large US law firms stated that they had lost out on business to the top accounting firms.. 

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Navigating the Legal Industry Landscape 
and Preparation for the Future
The US remains 
as the largest market for legal services 
in the world. The top 100 leading law 
firms in the US generated a total 
revenue of almost $131 billion
in 2022.
Baker McKenzie lowest 
revenue compared to their 
three biggest competitors 
Baker McKenzie highest 
number of lawyers 
compared to their three 
biggest competitors 
0
200
400
600
800
1000
1200
2025
2024
2023
2022
2021
2020
2019
2018
4795
4028
3078
3025
0
1000
2000
3000
4000
5000
6000
Baker McKenzie
DLA Piper
Latham & Watkins
Kirkland & Ellis
6,5
5,32
3,68
3,3
0
1
2
3
4
5
6
7
Kirkland & Ellis
Latham & Watkins
DLA Piper
Baker McKenzie
Industry size & Expected Growth
-0,2%
1,0%1,0%
-1,6%
3,7%
-0,1%
-2,0%
-1,0%
0,0%
1,0%
2,0%
3,0%
4,0%
Growth in Demand for Legal 
Services
After a post-pandemic 
upturn, the demand of legal 
services has once again 
started decreasing due to 
economic circumstances
Number of lawyers
Gross Revenue FY22 $bn
The Big 4 accounting firms –
Deloitte, EY, KPMG, and PwC –
are increasingly capturing share 
of the legal services market
Close to 24% of the large US law 
firms stated that they had lost 
out on business to the top 
accounting firms.

Assessing the Business Environment. Assessing the Business Environment. 

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Trends such as the use of artificial intelligence, increased geopolitical tensions, and the importance of client experience will impact the external environment of the firm.. 

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Trends such as the use of artificial intelligence, increased 
geopolitical tensions, and the importance of client experience will 
impact the external environment of the firm.

The increased geopolitical 
tensions between China and 
the U.S. together with the 
invasion of Ukraine have 
changed the international 
business landscape.

The impact of economic 
uncertainty and inflation.

Changing demographic 
landscape and societal 
values

Sustainability and 
compliance with 
environmental regulations.

Detailed dive 1: Increased geopolitical tensions. 

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Detailed dive 1: Increased geopolitical tensions

•
With the increased geopolitical tensions between

the U.S. and China, global firms experience

decoupling from China which can result in

•
According to a survey by EY, the value of

•
Some competitors have chosen to decouple from

•
’Friend-shoring’ as a business strategy

increases as firms want to partner with others

•
Managing the risks of doing business in a

country that emphasizes national security

Detailed dive 2: Economic factors. IMPACTS. •
An industry effect where inflation causes firms to. 

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•
An industry effect where inflation causes firms to

be more cost-aware and are not as keen on

•
High-interest rates lead to not it being easy to take

•
of law firms are facing client pressures to

•
Manage internal and external costs to keep

•
Offer risk management and compliance services to

clients with difficulty paying their invoices.

•
Engage in scenario planning to be proactive in

Detailed dive 3: Technology advancements. IMPACTS. 

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•
The development of AI and LLM will allow for

•
believe that ChatGPT and generative AI

•
of legal work can be automated, according

•
Digitalisation leads to a change in task and

workforce design, in addition to increasing

•
Shape the market by taking advantage of the various AI

•
Set up rules and frameworks for how these new tools

•
Develop own versions to support client service and

•
Increase competitive advantage by utilising these digital

•
Invest in training programs to upskill employees in LLM

Threats. Threats • Alternative legal service providers Economic hindrances such as inflation and geopolitical issues The demand for legal services is decreasing Lowered productivity Cybersecurity risks Increased client expectations •. 

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Threats
• Alternative legal service providers
Economic hindrances such as inflation
and geopolitical issues
The demand for legal services is
decreasing
Lowered productivity
Cybersecurity risks
Increased client expectations
•

•
Economic hindrances such as inflation

•
Attempting to increase revenue across

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As one of the largest and most prominent global law firms,. 

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As one of the largest and most prominent global law firms,

Baker McKenzie focuses on five strategies to maintain its market position:

Having a presence in 46 countries 
worldwide allows Baker McKenzie to 
serve international clients with their 
legal needs. This generates a strong 
global network effect, giving them a 
competitive edge.

Baker McKenzie has developed a deep 
understanding of 8 industries, such as 
technology, healthcare, and finance, 
to provide tailored legal services for 
clients facing challenges in these 
industries.

The firm emphasizes recruitment and 
talent development to maintain its 
market position. By attracting and 
retaining top legal talent in addition 
to providing ongoing training and 
career development, Baker McKenzie 
ensures that their employees are on 
top of their game.

With the emergence of artificial 
intelligence and new, more advanced 
technology, Baker McKenzie has 
leveraged this and been proactive in 
adopting the technology and 
innovation in its legal services. This 
allows them to shape and be at the 
forefront of the legal industry.

By being committed to promoting 
equity, inclusion, and diversity in the 
workforce and leadership, Baker 
McKenzie sends the strategic message 
of wanting to create diverse groups 
where multiple perspectives are 
included to avoid group-think when 
serving clients.

Though Baker McKenzie is one of the largest in the industry, to further strengthen their position these are some strategic considerations:. 

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Though Baker McKenzie is one of the largest in the industry, to further 
strengthen their position these are some strategic considerations:

With new demands from clients for 
more interactive and personal service, 
it is important that Baker McKenzie 
strategically leverages data analytics 
and client feedback to meet this 
demand and keep a client-centric 
approach.

Though the legal industry is slow-
moving, it does not mean that a legal 
firm can be proactive with developing 
innovative legal service models. For 
example, exploring alternative fee 
arrangements, legal project 
management, and creative legal 
solutions to further enhance client 
value capture.

Baker McKenzie is one of the law firms 
that is experimenting with and adopting 
technology such as AI and LLM it can 
always be done more in-depth. For 
example, by developing more advanced 
AI and automation tools to increase 
efficiency and productivity.

When the macro environment is 
changing due to geopolitical shifts and 
economic developments, Baker 
McKenzie must consider how these 
impact the legal landscape. By 
identifying emerging opportunities 
proactively, they can create a 
competitive edge in the industry.

Being a large global law firm comes with 
its challenges due to cultural 
differences. Therefore, it is important 
that leadership sets a clear strategy to 
ensure consistent quality and service 
across its global offices whilst allowing 
for refining them to meet the needs of 
individual clients.

A Look Into the FU tl._Jre. A Look Into the Future. 

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Recommendations for the fUtUre. Recommendations for the. 

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It is impossible to predict the future. However, there are some ongoing trends

that law firms can consider when making strategic decisions.

Whether or not a law firm looks at these trends, it is always more profitable to

be proactive than reactive. Thus, we provide a few recommendations on

Artificial Intelligence
Geopolitical tensions
Client experience
Alternative-service

Artificial Intelligence
Geopolitical tensions. •
Learning to use AI and LLM can give a huge competitive edge in the industry. 

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Artificial Intelligence
Geopolitical tensions

•
Learning to use AI and LLM can give a 
huge competitive edge in the industry

•
Developing their own tools with AI and 
LLM will increase the firm’s attractiveness 
among customers

•
These tools can be used to improve CX 
which will increase growth

•
Choose which countries to continue 
operating in to not risk losing growth

•
Move operations to ‘friendlier’ countries to 
maintain profits

•
Be aware of the risks in doing business in 
countries that prioritise domestic matters

Client Experience
Alternative Service-Providers. •
Improving CX strategy to meet the demands of a new generation that is entering the job market. 

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Client Experience
Alternative Service-Providers

•
Improving CX strategy to meet the demands of a new 
generation that is entering the job market

•
Emphasising the creation of CX together with the client

•
Developing tools to make a seamless client journey such 
as various feedback mechanisms

•
Emphasise continuous improvement of client services 
processes

•
Invest in technology to provide a competitive edge 
for clients

•
Adapt to changing work models and embrace a 
new form of work-life balance

•
Offer alternative fee structures to broaden the 
client base

•
Leverage data analytics to provide clients with 
data-driven insights and legal risk assessment

Sources. Enæelland, Bryce. "TYE Impact of a Changing Ecoromy on Law Erm Performarce in 2023: Eyes towards the Second Hdf of the Yea." Thomson Reuters Institute, July 17, 2023. httos:f/wv.w.thomsorreuters.com/enus/oostsfleaalfchanaina ecoromv law firm oerformarcef. NA. "New Report on ChatGPT & Gererative A1 in Lav.' firrns Shows Abound, Even as Concerns Persist." Thornson Reuters Institute, April 17, m23. aenerative ai law firms 20231. Seatm Jessica. "Just How Much IJS•China Geopofitics Threaten Law Err-ns in Asia?" Law.cor-n International. Accessed September 28, 2023. httos://www.lo•w.comnnternational edition/2023/05/31 /iust- how muchrwill uschina aeoøolitics threaten law firms inosia/.. 

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Enæelland, Bryce. "TYE Impact of a Changing Ecoromy on Law Erm Performarce in 2023: Eyes towards the Second Hdf of the Yea." Thomson Reuters
Institute, July 17, 2023. httos:f/wv.w.thomsorreuters.com/enus/oostsfleaalfchanaina ecoromv law firm oerformarcef.
NA. "New Report on ChatGPT & Gererative A1 in Lav.' firrns Shows Abound, Even as Concerns Persist." Thornson Reuters Institute, April 17,
m23. aenerative ai law firms 20231.
Seatm Jessica. "Just How Much IJS•China Geopofitics Threaten Law Err-ns in Asia?" Law.cor-n International. Accessed September 28, 2023.
httos://www.lo•w.comnnternational edition/2023/05/31 /iust- how muchrwill uschina aeoøolitics threaten law firms inosia/.

1329 Baker McKenzie