CMS, a top ten international law firm, today announces its 2016 financial results. Summary:
· Total annual revenues of €999 million in 2016 – After adjusting for exchange rate changes, annual revenues totaled €1,05 billion, up 4,1% year-on-year.
· CMS and Nabarro – Olswang merged to form the sixth largest legal services provider in the UK, in the largest operation of the UK legal market – Since May 2017, the two law firms Nabarro and Olswang have merged with CMS. This is the largest merger ever in the UK legal services market. The direction taken aimed at continuing the expansion in key markets and sectors present in the world is a tangible indicator of CMS's commitment to offer the best possible service to customers.
CMS strengthened its presence in Latin America in Chile, Colombia and Peru – Having become one of the largest international law firms, in January 2017 CMS grew again thanks to the merger with three prestigious law firms operating in Chile, Colombia and Peru, further strengthening its positioning in Latin America and associating more than 350 professionals. Together with CMS offices in Brazil and Mexico, these new studios offer customers an interconnected service in five of the most important Latin American economies.
· New offices have been opened in Tehran and Hong Kong – Currently there is also an office in Singapore (former Nabarro Olswang office).
· CMS Portugal grows in Africa – Angolan law firm FTL Advogados is an official partner of CMS Portugal thus ensuring that clients' demands are met in the rapidly growing Angolan economy.
· 48 new partners in the last year – In light of the firm's international growth, 48 new partners have been appointed.
Market recognition is another important indicator of CMS success. Along with numerous prestigious accolades, CMS is ranked 15th in the Acritas Global Elite Law Firm Brand Index. CMS tops the M&A League Tables: in the rankings by number of deals, CMS received 1st prize from Bloomberg in Europe, CEE, France, Germany and the UK and 1st prize from Mergermarket and Thomson Reuters in Germany.
Pietro Cavasola (Managing Partner of the CMS studio in Italy) comments on the positive financial results of CMS as follows: “Thanks to the international reach and the quality of our ever-expanding team, the CMS studio confirms the good economic results in a constantly evolving market. CMS is committed to consolidating its positioning in Italy and abroad and intends to offer further services in 2017 to all customers."
