The Biggest Legal Teams in the FTSE 100
The FTSE 100 Report for 2016 was published last week. The report shows that HSBC has the biggest legal team out of all of the FTSE 100 companies - with 1,109 lawyers representing the company. HSBC held the top spot for 2015 as well, and is the only company that has more than 1,000 lawyers globally.
The company is of similar size to Clyde & Co, and is well ahead of Barclays, which is ranked number 2 in the 2016 report. Barclays has 750 lawyers, while GlaxoSmithKline has 650 lawyers, Shell has 600 and Vodafone has 500.
There are, in total, 8450 lawyers working for FTSE 100 listed companies, which is roughly the equivalent of the combined total number of lawyers working for DLA Piper, Clifford Chance and Freshfields Bruckhaus Derringer, which are the three biggest law firms in the UK in terms of number of employees.
There has been an ongoing trend for in-house teams to grow, and there have been some significant increases in the number of lawyers employed at such companies since the 2015 report. This year, the median legal team size is 87, a small increase since the 2015 report, which was 81. The median is not, however, a good representation of the average size, since just 26 of the teams in the FTSE 100 have more than the median figure. It is the size of the top five teams in the index which is significantly skewing the overall figure.