Baker
McKenzie
is
no
slouch
in
the
world
of
Biglaw
—
by
gross
revenue,
the
metric
used
to
create
the
Am
Law
200
ranking,
the
firm
took
in
$3,286,791,000
in
2023,
making
it
the
number
4
firm.
But
firm
leaders
aren’t
content
to
just
sit
at
the
top
of
that
ranking.
The
international
firm
is
plotting
for
more
growth,
focused
primarily
in
New
York
and
North
America.
They’re
looking
to
lure
lateral
partners
into
the
fold
and
boost
thir
profits
per
equity
partner
(PEP).
As
Colin
Murray,
Baker
McKenzie’s
North
American
CEO,
told
Law.com,
“If
you’re
going
to
go
after
the
best
talent,
you
have
to
pay
market-level
compensation.
Our
U.S.
[PEP]
would
land
us
around
No.
39.
Our
goal
is
to
be
playing
in
the
top
25.”
That
goal
would
raise
the
PEP
from
$3.5
million
to
$8
million.
Alan
Zoccolillo,
chair
of
the
North
American
transactional
practices,
was
blunt
that
in
order
to
get
more
profitable,
they
have
to
offer
big
paydays.
In
the
partner
lateral
market,
compensation
“plays
a
huge
factor,”
he
noted,
and
“part
of
our
success
has
been
growing
the
profitability
of
our
practice
in
the
U.S.”
And
he
gave
some
hints
about
what
that
looks
like
at
Baker
McKenzie.
For
top
lateral
talent,
the
firm
offers
two-
to
three-year
guarantees
in
cash
or
shares
to
laterals,
depending
on
the
partner,
according
to
Zoccolillo.“Typically
we
offer
multiyear
cash
guarantees
in
line
with
market
compensation
for
laterals,
but
sometimes
do
combine
that
with
shares.
It
really
depends
upon
the
specific
situation,”
Zoccolillo
said.
The
firm
has
not
adjusted
compensation
for
other
lawyers
in
order
to
pay
top
performers,
he
added.
One
practice
area
the
firm
is
looking
to
grow
is
mergers
and
acquisitions.
As
Zoccolillo
said,
“10
years
ago,
we
were
a
smaller,
more
middle
market
player
in
M&A.”
But,
“With
our
focus
on
internal
growth,
bringing
on
high-quality
people,
and
focusing
on
key
clients
and
key
industries,
we’ve
substantially
changed
our
profile
and
are
now
routinely
advising
on
some
of
the
world’s
largest
and
most
complicated
transactions.”
But
the
firm
has
stuff
to
offer
laterals
outside
of
*just*
money.
Baker
McKenzie
has
an
international
reach
with
86%
of
partner
outside
the
U.S.
And
they
see
that
as
an
advantage.
“You’re
not
going
to
bring
in
the
very
best
talent
just
through
compensation.
There
has
to
be
a
differentiating
factor,”
Murray
said,
adding
those
factors
include
the
firm’s
“strong
and
collegial
culture”
as
well
as
its
“global
footprint.”
Zoccolillo
added
the
firm
believes
its
“global
footprint
and
practice
depth
is
key.”
Recent
lateral
partner
Arturo
Carrillo
said
the
firm’s
global
reach
in
Latin
and
South
America
was
attractive
when
he
made
the
move
to
Baker.
Some
of
the
most
recent
international
deals
include
NSE
listings
in
Mexico,
M&A
transactions
in
Peru
and
bank
financings
in
Colombia,
according
to
Carrillo.“The
global
transactions
we
work
on
often
involve
50,
60,70,
sometimes
100
jurisdictions.
There
really
isn’t
another
firm
that
has
the
global
reach
and
full-service
transactional
team
and
that
does
it
as
well
as
we
do,”
Zoccolillo
said.
With
a
lateral
partner
market
that
is
fire
right
now,
Baker
McKenzie
isn’t
alone
in
its
quest
for
the
best
legal
talent.
But
it’s
clear
they’re
putting
in
the
work
to
grow,
grow,
grow.
Kathryn
Rubino
is
a
Senior
Editor
at
Above
the
Law,
host
of
The
Jabot
podcast,
and
co-host
of
Thinking
Like
A
Lawyer.
AtL
tipsters
are
the
best,
so
please
connect
with
her.
Feel
free
to
email
her
with
any
tips,
questions,
or
comments
and
follow
her
on
Twitter
@Kathryn1 or
Mastodon
@[email protected].