Slaughter and May

Slaughter and May Profile & Stats

Slaughter and May has secured domestic domination as the most profitable law firm in the City – quite a feat given it has a much smaller head count than its Magic Circle rivals and a relatively small international footprint. In fact, Slaughter and May competes successfully with just a fraction of its competitors’ workforce – a meagre 730 lawyers worldwide, spread over just four offices.

At the heart of the firm is a strong corporate practice advising clients on M&A and finance. No other UK firm has advised more FTSE 100 companies or garnered as many clients on the London Stock Exchange. The corporate practice is a major contributing factor to the firm’s success, with the bulk of revenue coming from acquisitions, capital markets, private equity deals and demergers. Slaughter and May is also a leading expert on competition and tax matters.

The London partners all hold equity in the firm and are paid equally according to total firm profit, rather than by individual performance or contribution over the year. The partnership is actually somewhat sacred: Slaughter and May has the distinction of never having hired a lateral partner from another law firm (they’re all home-grown) and never having lost a partner to a rival. How’s that for a little Magic?

Ever since its inception in 1889 – by founding members William Slaughter and William May – the firm has had high-profile clients. The firm can even count household names, Alfred Nobel and Joseph Pulitzer, amongst its enviable early roster. These prestigious names, combined with a client list including more merchant banks than any other firm, led to a period of prosperity in the early 20th century, thus creating strong foundations that withstood both World Wars. By the 1980s, Slaughter and May had cemented its position as the UK’s leading law firm, advising Thatcher’s Conservative Government on the privatisations of British Aerospace, British Airways, British Gas, British Petroleum, British Steel and British Telecom.

After opening offices in Hong Kong and Brussels – in 1974 and 1989 respectively – Slaughter and May concertedly eschewed the rapid international expansion tactic of its competitors, and closed its offices in New York and Singapore. However, this certainly doesn’t mean the firm limits its business to just the UK. Through a network of 'best friends', Slaughter and May uses referrals – firms independent from them in other regions – to service its international deals. These relationships, with firms such as Hengeler Mueller in Germany, and Bredin Prat in France, are strengthened through joint training programmes and exchanges of personnel.

Slaughter and May may be at the top of its field, but that doesn’t mean it doesn’t have time for the community or the environment. The firm provides pro bono advice to the Islington Law Centre, Battersea Law Centre, LawWorks for Community Groups, and Royal Courts of Justice Advice Bureau, amongst others. Complementing this free legal support and advice, Slaughter and May solicitors also volunteer in non-legal scenarios, offering mentoring and financial support to local schools and their students.