Clifford Chance Loses 50 Partners

According to sources, Clifford Chance has lost almost 50 partners since March of this year, most from New York City and the London headquarters office.

Eighteen partners have left the firm in London, and another 18 in New York. Twelve have jumped ship in Europe.

Clifford Chance is restructuring, and expects to lose 90 further partners, or 15%, between now and April 2010.

Last week, the firm reported that average profits per equity partner dropped 37% to £733,000 ($1.2 million) in the last fiscal year.

Clifford Chance LLP is the largest law firm in the world by number of lawyers, and part of the UK’s “Magic Circle” of leading law firms. It is a prestigious international practice with its principal office in London.

• Fates to Be Decided for Clifford Chance Litigation Associates
• Clifford Chance to Lay Off New York Litigation Associates
• Freshfields Loses Top Partners
• Profits Plummet at Clifford Chance
• More Litigation Partners Leaving Clifford Chance

Posted by Erik Even on July 9, 2009. Filed under Home,Law Firm News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry