Baker McKenzie
This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
|
Headquarters | Chicago, Illinois |
---|---|
No. of offices | 77[1] |
No. of attorneys | > 4,809[2] |
No. of employees | > 13,000 |
Major practice areas | Corporate law |
Key people | Milton W. M. Cheng Global Chair |
Revenue | US$3.3 billion (2022)[3] |
Profit per equity partner | US$2.0 million (2022)[3] |
Date founded | 1949 |
Founder |
|
Company type | Swiss association |
Website | bakermckenzie |
Baker McKenzie is one of the largest international law firms, headquartered in Chicago. Founded in 1949 under the name Baker & McKenzie, it has 77 offices in 46 countries and employs 4,809 attorneys and approximately 13,000 employees.[4]
History
Co-founding partner Russell Baker, born in
In 1949, the firm relaunched with John McKenzie, a litigator who had graduated from Loyola University Chicago School of Law, who took charge of the litigation practice, as Baker built an international practice.
Baker McKenzie became an international firm beginning in 1955, when a lawyer in
In 1999,
In 2001, the firm employed 3,000 attorneys and garnered $1 billion in revenues.[9] In 2005, 70 partners, and other legal staff, from the New York office of disbanding international firm Coudert Brothers joined Baker McKenzie.
In August 2014, Baker McKenzie revealed it was the first law firm to break through the $2.5bn revenues barrier since the financial crisis, and that it was also the largest firm in the world by headcount.[10]
The firm's global chair, from 2016, until his death in April 2019, was former London managing partner Paul Rawlinson, who was the 15th chair, and the first British chair of the firm.[11] Rawlinson had succeeded Eduardo C. Leite who was chair of Baker McKenzie from 2010 to 2016.[12] In September 2019 the Firm announced that Milton Cheng had been elected as the global chair for four years, commenced October 2019.
In September 2022, after 40 years of existence in the UAE, Baker McKenzie announced to swiftly separate from its Emirati partner, Habib Al Mulla. The law firm raised a concern regarding the
Size and structure
Baker McKenzie is the largest law firm in the United States by headcount. As of August 2018[update], it was the second largest law firm by headcount[14][15] and third by revenue.[16]
For 2015-2022, Reuters ranked the firm first by number of cross-border deals and for the eleventh year in a row the firm was ranked first for deals with emerging market involvement, by both number of announced and completed number of deals.[17]
Baker McKenzie is organized as a
Notable matters and transactions
In 2006, Baker McKenzie wrote the
In December 2009, Baker McKenzie won a landmark tax case against the U.S.
Baker McKenzie represented Microsoft in
In 2012, Baker McKenzie helped overturn Paul Chambers' conviction under the Communications Act of 2003 (the
Baker McKenzie is currently representing Facebook Inc. in its dispute with the IRS over the value of assets the company transferred to its Irish holding company.[27] Lawyers with the U.S. Department of Justice asked for a court order forcing Facebook to provide information to the IRS related to agreements between the company and the holding company, Facebook Ireland Holdings.
Controversies
According to the ICIJ, Baker McKenzie has a history of working with "notorious fraudsters and autocratic regimes."[28]
In 1986,
In 1994, in a seminal case, a
Tax avoidance
In 2021, the law firm was listed in the Pandora Papers after the law firm conducted offshoring activities for organizations outside of the United States. One of the actions includes setting up shell companies in Cyprus for RJR Nabisco (which has split up), creating a tax shelter for Nike, as well as moving Facebook's tax headquarters to Ireland, allowing these companies to avoid taxes.[36] Baker McKenzie's clients include Malaysian fugitive Jho Low.[36]
Baker McKenzie has boasted about helping to set up tax-free zones in the UAE, which critics say encourage illicit activity.[36] Baker McKenzie has lobbied against legislation to curb offshore tax avoidance by big companies and lobbied against legislation that would increase due diligence for foreign customers of American banks.[36]
According to the ICIJ, Baker McKenzie is "an architect of the modern tax avoidance system."[37] The company has helped fraudsters, corrupt officials and elites in authoritarian regimes avoid taxes and hide wealth through the use of shell companies, trusts and complex structures in tax havens.[36] The Pandora Papers mentioned Baker McKenzie more than any other major U.S. law firm – the leaks alone revealed that Baker McKenzie was involved in setting up more than 440 offshore companies registered in tax havens.[36]
Russia
Baker McKenzie has described itself as the "go-to firm for Russia's largest companies and major foreign investors."[28]
Baker McKenzie has represented Russian state-owned companies Gazprom, Sberbank, VTB Bank, VEB.RF and Sviaz Bank, and the arms-manufacturer Rostec.[28][38][36] In October 2021, the Pandora Papers leaks revealed that company represented at least six sanctioned Russian companies.[28] After Russia invaded Ukraine in February 2022, the company initially did not sever ties with Russian state-owned companies, but said it was "reviewing and adjusting our Russia-related operations and client work" to adjust to sanctions.[38] In late March 2022, the company said it was leaving Russia.[28]
In 2016, Baker McKenzie worked for Rostec in selling shares in a Mongolian copper mine.[28] The sale triggered a corruption investigation.[28]
In 2021, Baker McKenzie advised the Russian Ministry of Finance on a $1.8 billion bond deal.[28]
See also
References
- ^ "Baker McKenzie Strengthens Client Service Capabilities in California, Opens Office in Los Angeles". Baker McKenzie. March 8, 2018. Archived from the original on February 3, 2019.
- ^ "Baker McKenzie". ALM.
- ^ a b "Baker McKenzie reports flat profits as revenue rises 5.5% to $3.3bn". Global Legal Post. October 13, 2022.
- ^ "Baker McKenzie". Law.com. Retrieved June 30, 2022.
- ^ "Managing the world's largest trademark portfolio". Baker & McKenzie. 2014. Archived from the original on October 17, 2014. Retrieved June 30, 2014.
- ^ "The Master Strategists". The American Lawyer. August 13, 2013. Retrieved June 30, 2014.
- ^ Petersen, Melody (October 9, 1999). "Her Partners Can Call Her Ms. Chairman; Baker & McKenzie Takes Small Step for a Law Firm, Giant Leap for Womankind". The New York Times. Retrieved August 17, 2016.
- ^ "Press Release: IMF Executive Board Selects Christine Lagarde as Managing Director". International Monetary Fund. June 28, 2011. Retrieved June 30, 2014.
- ^ "Firm History". Baker & McKenzie. 2014. Archived from the original on June 15, 2014. Retrieved June 30, 2014.
- ^ "Baker & McKenzie becomes world's biggest law firm". Financial Times.
- ^ "Paul Rawlinson named chair of Baker and McKenzie and other legal moves and grooves for June 13". Financialpost.com. Retrieved May 26, 2017.
- ^ "Baker & McKenzie chooses London partner as new chairman". Crain's Chicago Business. Retrieved May 26, 2017.
- ^ "Baker McKenzie seeks 'swift' split from UAE partner after homophobic tweets". The Financial Times. September 16, 2022. Retrieved September 16, 2022.
- ^ Randazzo, Sara (August 22, 2016). "Baker & McKenzie Rebounds After Down Year". The Wall Street Journal. Retrieved January 27, 2022.
- ^ "Firm Facts". Baker McKenzie. Retrieved January 27, 2022.
- ^ "Baker McKenzie Announces Record Global Revenues of $2.9 Billion | Newsroom | Baker McKenzie". Archived from the original on August 12, 2018.
- ^ "Baker McKenzie Announces Global Revenues of US$2.62 billion | Newsroom | Baker McKenzie". Baker McKenzie. Archived from the original on August 25, 2016. Retrieved September 1, 2016.
- ^ "Enter Swiss Verein 2012" (PDF). Edge.ai.
- ^ "Baker & McKenzie Eyes Africa As Next Great Expansion Opportunity". News.bloomberglaw.com. Retrieved January 27, 2022.
- ^ "Baker McKenzie". COPAA. Archived from the original on June 8, 2008.
- ^ "Pro Bono Supreme Court". Baker & McKenzie. Archived from the original on June 8, 2008.
- ^ Letzing, John (December 10, 2009). "Symantec wins $545 million opinion in tax case". MarketWatch. Retrieved June 30, 2014.
- ^ "U.S. Tax Court Rules in Favor of Symantec". Symantec. December 14, 2009. Retrieved June 30, 2014.
- ^ "Microsoft Corporation v. Internal Revenue Service". Law360.com. Retrieved January 27, 2022.
- ^ Bowcott, Owen (July 27, 2012). "Twitter joke trial: Paul Chambers wins high court appeal against conviction". The Guardian.
- ^ "Robin Hood Airport tweet bomb joke man wins case". BBC News. July 27, 2012.
- ^ "Facebook Turns to Baker & McKenzie to Fight IRS Probe". Law.com.
- ^ a b c d e f g h "Baker McKenzie, a go-to firm for Kremlin-linked companies, now says it's leaving Russia - ICIJ". March 15, 2022. Retrieved March 19, 2022.
- ^ "Lawyer With AIDS Charges Job Discrimination". The New York Times. July 15, 1987.
- ^ "Philadelphia' Screenplay Suit To Reach Court". The New York Times. March 11, 1996.
- ^ The Baker & McKenzie Sexual Discrimination Case, Georgia Trial Lawyers Association.
- ^ Sexual Harassment Laws: How a Six Million Dollar Man Became a Six Million Dollar Liability, The Payroll Factory. Archived February 5, 2005, at the Wayback Machine
- ^ Weeks v. Baker & McKenzie, 63 Cal. App. 4th 1128 (1998).
- ^ Chambers v. Kay, 29 Cal. 4th 142 (2002). Online.ceb.com
- ^ State Bar of California public record for Martin Richard Greenstein, State Bar Number 106789. Members.calbar.ca.gov
- ^ a b c d e f g "How America's biggest law firm drives global wealth into tax havens - ICIJ". October 4, 2021. Retrieved March 9, 2022.
- ^ "How a network of enablers have helped Russia's oligarchs hide their wealth abroad - ICIJ". March 2, 2022. Retrieved March 9, 2022.
- ^ ISSN 0362-4331. Retrieved March 10, 2022.