The Seven Sisters refers to a historical collection of seven
law firm
A law firm is a business entity formed by one or more lawyers to engage in the practice of law. The primary service rendered by a law firm is to advise clients (individuals or corporations) about their legal rights and responsibilities, and to ...
s with offices across
Canada
Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world ...
The term "Seven Sisters" was originally coined by John Alexander Black, founder of Lexpert Magazine (previously owned by
Thomson Reuters
Thomson Reuters Corporation ( ) is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre.
Thomson Reuters was created by the Thomson Corpo ...
and now owned by Key Media). At the time, the Seven Sisters dominated the Canadian M&A legal advisory rankings. However, by 2006, Black stated "the moniker may have run its course and that some people argue the Seven have shrunk to two or possibly three." Later that year, The Globe and Mail reported the Seven Sisters term was no longer valid, explaining that "as the Canadian pool of major companies boils down to a thin concentrate, the upper legal tier has also shrunk." It noted that "most observers agree the reigning top players are McCarthy Tetrault LLP, Stikeman Elliott LLP, Osler Hoskin & Harcourt LLP and Blake Cassels & Graydon LLP." In 2014,
National Post
The ''National Post'' is a Canadian English-language broadsheet newspaper available in several cities in central and western Canada. The paper is the flagship publication of Postmedia Network and is published Mondays through Saturdays, with ...
reported "the Chambers Global rankings for Canadian law firms confirm that it's time to retire the notion that "Seven Sisters" dominate Canadian law firms." As of 2022, only five of the original seven have become national law firms in Canada – the aforementioned four plus Torys LLP.
In 2015, The Globe and Mail reported that the market had changed markedly from the early 2000s: "Elite U.S. legal shops blanket the top 25 firms for M&A, taking 13 of the top spots on the chart." According to
Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ...
(FY 2021), the top 10 legal advisors by volume for M&A transactions with any Canadian involvement were Osler ( TO), Davies ( TO),
Sullivan & Cromwell
Sullivan & Cromwell LLP is an American multinational law firm headquartered in New York City. Known as a white-shoe firm, Sullivan & Cromwell is recognized as a leader in business law, and is known for its impact on international affairs, such a ...
Latham & Watkins
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, Latham is the second-largest law firm in the world by revenue. As of 2021, Latham is also one of the most profitable law firms in the world ...
White & Case
White & Case LLP is a global law firm based in New York City. Founded in 1901, the firm has 46 offices in 31 countries worldwide and has been ranked among the top ten firms worldwide by revenue.
History
The firm was launched on May 1, 1901 wh ...
Kirkland & Ellis
Kirkland & Ellis LLP is an American multinational law firm headquartered in Chicago, Illinois. Founded in 1909, Kirkland & Ellis is the largest law firm in the world by revenue and the seventh-largest by number of attorneys, and was the first la ...
(
CHI
Chi or CHI may refer to:
Greek
*Chi (letter), the Greek letter (uppercase Χ, lowercase χ);
Chinese
* ''Chi'' (length) (尺), a traditional unit of length, about ⅓ meter
* Chi (mythology) (螭), a dragon
*Chi (surname) (池, pinyin: ''chí' ...
Freshfields
Freshfields Bruckhaus Deringer LLP (informally Freshfields, or FBD) is an international law firm headquartered in London, and a member of the Magic Circle. The firm has 28 offices in 17 jurisdictions across Asia, Europe, the Middle East and Nor ...
( LON), signalling the integration of Canada into the larger North American and international market. The same
Bloomberg Bloomberg may refer to:
People
* Daniel J. Bloomberg (1905–1984), audio engineer
* Georgina Bloomberg (born 1983), professional equestrian
* Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician and ...
Kirkland & Ellis
Kirkland & Ellis LLP is an American multinational law firm headquartered in Chicago, Illinois. Founded in 1909, Kirkland & Ellis is the largest law firm in the world by revenue and the seventh-largest by number of attorneys, and was the first la ...
, and Miller Thomson.
The 'club of nine' was a similar term used in the UK until it was replaced by the
Magic Circle
A magic circle is a circle of space marked out by practitioners of some branches of ritual magic, which they generally believe will contain energy and form a sacred space, or will provide them a form of magical protection, or both. It may be mark ...
The American Lawyer
''The American Lawyer'' is a monthly legal magazine and website published by ALM Media. The periodical and its parent company, ALM (then American Lawyer Media), were founded in 1979 by Steven Brill.Gowling WLG which operates as two separate partnerships across the Atlantic.
Canada's Largest Law Firms
Lexpert Magazine publishes a yearly list of The 30 Largest Law Firms in Canada ranked by total number of lawyers.
See also
*
Magic Circle (law)
The Magic Circle is an informal term describing the five most prestigious London-headquartered multinational law firms, which generally outperform the rest of the London law firms on profitability. The term has also been used to describe the most ...