Silver Circle (law firms)

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The Silver Circle is a group of corporate law firms headquartered in London, United Kingdom which are each outside of the Magic Circle, and have a lower turnover than the members of that group, but 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 first coined by The Lawyer magazine in 2005.


As defined by The Lawyer magazine, the Silver Circle comprises Herbert Smith Freehills, Ashurst, Berwin Leighton Paisner, King & Wood Mallesons, Macfarlanes and Travers Smith.[1] Their 2012/13 and 2013/14 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)
9 Herbert Smith Freehills £671m £784,000 £800m £741,000
13 Ashurst £323m £680,000 £586m £801,000.
17 Berwin Leighton Paisner £233m £401,000 £246m £542,000
22 King & Wood Mallesons £183m (SJ Berwin LLP) £565,000 £179m (KWM LLP) -
29 Macfarlanes £114m £989,000 £139.75m £1,200,000
41 Travers Smith £86m £790,000 £97.2m £882,000

See also[edit]


  1. ^ a b "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. ^ a b