Managing Partners Forum Publishes 2007 Global 500 Report
The Managing Partners Forum is a resource for leaders / chief executives of professional service firms that is headquartered in London but which spans the Atlantic with a growing presence in the USA. It has just published a report titled The MPF Global 500 Annual Report 2007, which lists the 500 largest professional services firms in the world. It makes fascinating reading.
I played a bit with the figures in the report to see how the 'spend' amongst the top 100 firms was split up by profession. The result is the pie chart above. (Click on the image to see a larger version.) Professional services worldwide is a trillion dollar segment of the global economy. The 100th largest firm has a turnover of about a billion dollars. The largest (PricewaterhouseCoopers) has a turnover of nearly $22 billion. The world's largest law firm, Clifford Chance, is number 45 with $2.3 billion turnover and law firms makes up less than 5% of the total professional service spend by clients with the 100 largest firms.
Says Nigel Knowles, Joint CEO of DLA Piper (no. 57 on the list) and MPF chairperson:
"Our initial estimate was that the total annual fees [of the Global 500 firms] would total US$200bn; the reality is well over $500bn. If insiders can get it that wrong, it must mean that the industry is a complete mystery to most."
The Managing Partners Forum intends publishing this report annually. Over time, it will no doubt make a very valuable contribution to understanding trends and patterns in professional services worldwide.
To obtain a electronic copy of the report, click here, or for a hard copy contact the MPF through their web page. If you are a professional service firm CEO / managing partner / leader, you may do well to consider joining the organization, too.
Good write up. Thanks a million
É um trabalho de muita importância na atual "era da informação" em que vivemos. Parabéns!