Baker & McKenzie, the world's premier global law firm, has announced record global revenues for the fiscal year ended 30 June 2014 (FY14) of $2.54 billion US dollars, an increase of 5% on 2013.

The Firm is now the world's largest by revenues, markets and headcount. Almost all revenue growth in the past year has been organic.

In South Africa, Baker & McKenzie opened a Johannesburg office in May 2012, which has grown to more than 75 lawyers and staff. This number will be boosted further following last week’s announcement that the Firm had acquired a niched competition law practice and appointed top competition lawyer Vani Chetty as a partner.

Vani Chetty Competition Law, founded by Chetty in 2007 as South Africa's first competition law boutique, was recently ranked in the top five for merger and acquisition deal value alongside major local law firms by corporate finance magazine DealMakers.

Wildu du Plessis, Managing Partner of Baker & McKenzie's Johannesburg office, said that the addition of Vani Chetty and her staff will significantly boost the Firm’s capability in M&A and competition advisory work in Southern Africa and beyond. It further builds on the Firm’s existing strengths in the region in banking and finance, capital markets, corporate commercial, projects and dispute resolution.

“As economic power shifts, emerging economies are becoming central players in the global legal industry with growth creating new demands for legal services. Africa is no exception and we are likely to see a “land grab” for local talent as law firms position themselves to service the growth. M&A is a key driver of economic activity and the expansion of our local competition law practice is timely,” said Mr du Plessis.

Chetty focuses on transactional and advisory competition law issues for a variety of local and international clients in commercial property, financial services, construction, chemicals and the corporate sector. She joins the Firm's Global Antitrust and Competition Practice Group, which has more than 300 lawyers and professionals across 53 offices in 44 countries.