The top 50 US firms last year generated a total of $46.8bn (23.4bn) in revenue – an increase of more than 16 per cent on the 2006 total of $40.27bn (20.14bn).
With US firms ramping up significantly in the UK market, an increasing number of trainees are launching careers at London offices of US firms.
Last week (24 March) Lawyer2B.coms sister publication, The Lawyer, revealed the US top 50 firm financial results for 2007.
Firms with the strongest revenue growth last year include DLA Piper with a 110 per cent increase from $1bn (500m) up tp $2.1bn (1.05m) K&L Gates increasing revenue by 51.3 per cent from $499m (271m) in 2006 up to $755m (378m) last year.
Profits flourished at Baker Botts which had a 30 per cent increase from $1m (543,000) in 2006 up to $1.3m (650,000) in 2007 making it the most significant PEP increase in the top 50.
Traditional US giants such as Simpson Thacher & Bartlett and Davis Polk & Wardwellhave maintained their strength while M&A powerhouse, Wachtell Lipton Rosen & Katz broke into the top 50 table for the first time ever.
While US firms have clearly demonstrated significant growth in global markets, transatlantic success has not been achieved yet.
In recent years becoming a top tier firm in corporate, finance and litigation on both sides of the Atlantic has become increasingly important for US and UK firms.