Clifford Chance

Clifford Chance
Clifford Chance LLP
Clifford Chance
Headquarters 10 Upper Bank Street
London, United Kingdom
No. of offices 32 in 20 countries[1][dead link]
No. of lawyers 2,900[1][dead link]
Major practice areas General practice
Revenue £1.197 billion[2]
Date founded 1987
Company type Limited liability partnership
Website
www.cliffordchance.com

Clifford Chance LLP is a global law firm headquartered in London, United Kingdom and a member of the 'Magic Circle' of leading UK law firms.[2] It is one of the ten largest law firms in the world measured by both number of lawyers and revenue.[3] In 2010/11 it achieved total revenues of £1.219 billion and profits per equity partner of £1.005 million.[4] David Childs has been Managing Partner since 2006.[5]

Contents

History

Clifford Chance's London headquarters at 10 Upper Bank Street - the building on the right

Clifford Chance's origins date back to a law firm founded in London in 1802.[6][7] One of Clifford Chance's predecessor firms established an office in New York in 1986. The merger of London-based law firms Clifford Turner and Coward Chance in 1987 led to the formation of Clifford Chance. Neither Clifford Turner or Coward Chance were first-rank London law firms, but their merger has since been said to have changed the shape and profile of law firms in London and globally.[8] Over the next decade the firm expanded its practices across Europe and Asia and more than doubled in size. In 1992 Clifford Chance became the first major non-US firm to practise US law.[9]

In 1999 Clifford Chance merged with Frankfurt-based law firm Pünder, Volhard, Weber & Axster and with the 1871-established US-based firm Rogers & Wells (the use of the Pünder, Volhard, Weber & Axster and Rogers & Wells branding for their respective European and United States regional offices was discontinued in 2003). In 2002, Clifford Chance launched in California, setting up a branch with nearly 50 attorneys from the disbanding dot-com firm Brobeck, Phleger & Harrison in Los Angeles, Palo Alto, San Diego and San Francisco. With California's downturn, the firm closed its Pacific Coast operations in 2007.[10]

In 2002 Clifford Chance was ranked last in associate satisfaction in the annual associate survey by The American Lawyer. Several associates on the firm's personnel committee drafted a memorandum outlining their complaints, which was circulated on the internet. Peter Cornell, the then Managing Partner, relocated to New York to address many of the associates' concerns. Clifford Chance was noted as the most improved firm in the next year's survey.[11] Since then, the firm has continued to improve in the annual associate survey and in 2007 was ranked #29.[citation needed]

Because of falling revenues during the recent global recession, Clifford Chance reduced the number of partners by around 15%.[12] The firm is increasingly moving back office tasks to its 350-employee Global Shared Service Centre, including a 60-employee Knowledge Centre in New Delhi, India as an efficiency measure.[13]

On 1 May 2011, Clifford Chance opened offices in Australia by merging with two boutique law firms, Sydney-based Chang, Pistilli & Simmons and Perth-based Cochrane Lishman Carson Luscombe.[14]

In November 2011 it was identified as the largest supplier to the City of London Corporation having received over £9m in fees between January and September of that year.[15]

Main practice areas

  • Banking and finance
  • Capital markets
  • Corporate law
  • Real estate
  • Litigation

References

  1. ^ a b "Clifford Chance Annual review 2009". Clifford Chance LLP. http://microsite.cliffordchance.com/reports09/pdf/CliffordChance_AR09.pdf. Retrieved 11 August 2010. 
  2. ^ a b "Clifford Chance Is Top U.K. Law Firm as Revenue Falls". Bloomberg Businessweek. 8 July 2010. http://www.businessweek.com/news/2010-07-08/clifford-chance-is-top-u-k-law-firm-as-revenue-falls.html. Retrieved 27 August 2010. 
  3. ^ "The Global 100: Most Revenue 2009". American Lawyer. http://www.law.com/jsp/tal/PubArticleTAL.jsp?id=1202433980888. Retrieved 13 August 2010. 
  4. ^ "Clifford Chance back in £1m PEP club as revenues nudge up". The Lawyer. 5 July 2011. http://www.thelawyer.com/clifford-chance-back-in-%C2%A31m-pep-club-as-revenues-nudge-up/1008491.article. Retrieved 17 July 2011. 
  5. ^ "David Childs". Times Online. 21 April 2008. http://business.timesonline.co.uk/tol/business/law/article3681363.ece. Retrieved 28 August 2010. 
  6. ^ "United Kingdom". Clifford Chance LLP. http://www.cliffordchance.com/locations/united_kingdom.html. Retrieved 28 August 2010. 
  7. ^ A brief history of Clifford Chance
  8. ^ Fennel, Edward (30 January 2007). "Driving ambition of mega CC - Why the merger of Coward Chance and Clifford Turner changed the way City firms work". The Times (London: News Corporation). http://business.timesonline.co.uk/tol/business/law/corporate_law/article1296205.ece. Retrieved 2007-11-18. 
  9. ^ Dillon, Karen (May 1993), "The British Empire Strikes Back", American Lawyer: 52–56 
  10. ^ Eric Young, "Giant UK firm to quit West Coast", San Francisco Business Times, 2 May 2007. http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2007/03/05/story8.html
  11. ^ "Moving Up, Moving Down". Law.com. 2011-07-15. http://www.law.com/jsp/article.jsp?id=1063212112697. Retrieved 2011-08-08. 
  12. ^ "Clifford Chance". Thelawyer.com. http://www.thelawyer.com/directory/c/Clifford-Chance/. Retrieved 2011-08-08. 
  13. ^ Mark Ford (Director of the Clifford Chance Knowledge Centre): Clifford Chance's knowledge centre in India: the story so far, Practical Law Company, 28 April 2011, http://plc.practicallaw.com/8-505-7501
  14. ^ Bloomberg (2011). Clifford Chance Merges With Two Law Firms to Open in Australia. Retrieved 7 October 2011.
  15. ^ City of London spending and income: where does the money come from, and where does it go? Guardian 01 November 2011 http://www.guardian.co.uk/news/datablog/2011/nov/01/city-london-spending-income

Further reading

  • Scott, John (1980). Clifford-Turner. Legibus.
  • Slinn, Judy (1993). Clifford Chance: Its Origins and Development. Granta Editions.
  • Bose, Mihir, 'Clifford Chance: A Very Peculiar Practice?', Director, March 1990, pp. 65–66, 68, 70.
  • 'Playing for Stakes: The Game of Clifford Chance', Legal Business, June 1993, pp. 28–31.
  • 'London Braces for the Big Six Invasion', American Lawyer, December 1996, pp. 5–6.
  • Rose, Craig, 'Clifford Chance: The Merger That Worked', Commercial Lawyer, Issue 15, 1997, pp. 32–34.
  • Morris, John E., 'The New World Order', American Lawyer, August 1999, pp. 92–99.
  • 'Merger in the First Degree: British Law Firms Are Forging New Relationships That Could Transform the Style of Global Legal Practice', Time International, 9 August 1999, p. 41.
  • Steinberger, Mike, 'Is Clifford Chance/Rogers & Wells the Next Wave, or Simply Overkill?', Investment Dealers' Digest, 9 August 1999, pp. 12–13.

Coordinates: 51°30′10″N 0°01′01″W / 51.5027°N 0.017°W / 51.5027; -0.017

External links


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