In a landmark year, global law powerhouse Clifford Chance has announced record-breaking financial results, showcasing significant growth, particularly in the U.S. market. The London-originated firm reported a 10% rise in partnership profits, reaching a remarkable £856 million ($856 million). Profit per equity partner also climbed to £2.04 million ($2.63 million) in the fiscal year ending April 30.
Overall, the firm’s revenue soared by 9%, amounting to £2.3 billion ($2.97 billion). The standout performer was the U.S. sector, which experienced a staggering 28% revenue growth. This surge was fueled by heightened activity in litigation, energy transition, infrastructure investment, technology, and private capital sectors.
Global Managing Partner Charles Adams highlighted the rapid progress in the U.S., underscoring the firm’s strategic expansion, including the launch of a new Houston office in June 2023. This office bolsters the firm’s global energy and infrastructure capabilities and was staffed with top talents from competing U.S. law firms.
Clifford Chance’s U.S. presence is impressive, with 19 new partners added in the last financial year, bringing the total to 115. The firm boasts over 400 lawyers across its New York, Washington, D.C., and Houston offices, part of a global team of 3,760 legal professionals.
The success story of Clifford Chance is echoed by other leading UK law firms, all of which have recently reported strong financial results, driven by robust U.S. market performances. Notably, Linklaters, Kennedys, Ashurst, and Clyde & Co have all seen significant revenue boosts in North America, reflecting a broader trend of growth and opportunity in the region.
In the competitive landscape, the recent merger forming A&O Shearman, combining London’s Allen & Overy with New York’s Shearman & Sterling, reported a substantial profit before tax of £1 billion ($1.29 billion) and client revenue of £2.2 billion ($2.85 billion).
This financial momentum among UK law firms, led by Clifford Chance, underscores a thriving legal market, particularly in the U.S., where strategic expansions and sector-specific growth continue to yield impressive returns.
