Clifford Chance breaks £2 billion revenue threshold with eighth consecutive year of growth

Avatar photo

By Bradley Fountain-Green on


Average partner profits remain flat at £2 million amid significant “economic headwinds”

Clifford Chance’s London office

Magic Circle law firm Clifford Chance has breached the £2 billion revenue mark for the first time in its history.

The Canary Wharf giant generated £2.06 billion in global revenues for the financial year ending 30 April, a 5% uptick on the previous 12 months and marking an impressive eight years of consecutive of growth.

Reflecting on the firm’s financial performance, global managing partner Charles Adams said:

“Our team has delivered another strong set of results amid continued significant geopolitical and economic headwinds. These results reflect the strength and resilience of the firm’s global capabilities and diversified client base.”

Despite rising revenues, CC’s profit per equity partner (PEP) remained flat at £2 million amid what Adams described as “persisting challenges and uncertainties in the global economy”. Total partnership profit also remained in line with the previous year at £781 million.

The 2023 Legal Cheek Firms Most List

Increased revenue was thanks in part to an active tech sector and private capital fund raising, according to the firm, as well as significant growth across its global litigation, disputes, and regulatory practice groups.

As for its goals for the new financial year, CC said it is looking to strengthen global offerings in core areas such as technology transformation and artificial intelligence (AI), as well as focusing on strategic, client-led growth in the US, where they have recently opened a new office in Houston, Texas.

CC is now the second MC member to go public with its financial results, with Allen & Overy recently recording a 7% uptick in revenues to £2.1 billion. PEP fell to £1.82 million due to what the firm described as “challenging market conditions and a high inflationary environment”.

For all the latest commercial awareness info, news and careers advice:

Sign up to the Legal Cheek Newsletter


Intellectual scholar

Would you pick CC over US firms?

MC Insider

For training, absolutely 100%.

Casual Observer

I think it is quite simplistic to suggest that training at the MC is ‘better’ than that at US firms. It will massively depend on the individual, their maturity, experience, and way of learning new things.

Training and professional development isn’t a one-size-fits-all thing!


if it’s established practice like Latham then yes, otherwise no


Beggars can’t be choosers


If I got a TC offer from CC but wanted to reject for a U.S. firm, that’s pretty stupid imo (bar Latham and Weil); training is much better


That’s a grossly inaccurate statement. You get far better deal experience from day 1 working at any top US.


Nonsense. Training at MC and silver circle is far superior. Having trained at a SC now at a US firm the training and exposure doesn’t compare. Us associates don’t have time to properly train trainees


If you actually look at what happens with candidates who have offers from both, the general trend is massively in favour of US firms…


Yes, because of the money. If you look at what happens with those candidates most don’t actually last very long because of the culture/burn out.


Weil…. Lol

Elite US



Loool Weil are good for finance or PE as a trainee tho ain’t too shabby either

Future US trainee

What about K&E?

Real realist

Yeah, because they are blinded by money which after tax is hardly any difference…you speak to partners and they’ll all say it’s better to train at a top UK city firm as opposed to US sweatshop


5.5 to 7.5 monthly? OK!!

US associate

Bear in mind when those partners trained 🙂

There is no one rule when it comes to training. Each firm is different and it largely depends on the people doing the “training”. If you get a crap supervisor you can have a crap 6 months, regardless of where you train. If a partner/senior associate really takes you under their wing then you could have a brilliant training experience. There is no MC “standard” and same for US. You have to judge each firm individually, each department individually and, ultimately, each supervisor.


Looool this is funny. Compare the training between US firms and MC firms in real life and you’ll see.

Sometimes it’s just a trainee and partner on a deal at a US firm…


This explains why a US 1PQE = a MC counsel

Join the conversation

Related Stories

A&O breaks £2 billion revenue barrier ahead of proposed Shearman mega-merger

Partner profits dip due to 'challenging market conditions'

Jul 13 2023 9:40am

Clifford Chance ramps up US presence with Texas launch

Magic Circle outfit now has three offices in America 🇺🇸

Jun 6 2023 12:35pm

Clifford Chance partner profits up 9% to £1.85 million

Revenues reach £1.82 billion

Jul 20 2021 4:01pm