Clyde & Co

The Legal Cheek View

Over the last decade Clyde & Co has transformed itself from a respected but relatively niche shipping and insurance law practice into a global full service megafirm. In the UK alone, Clydes now has ten offices, with a further 36 internationally, including a substantial presence in the US, Asia and the Middle East.

Such growth can be turbulent, but Clydes is seen as having handled its enlargement – which included the 2011 takeover of Barlow Lyde & Gilbert and, most recently, the gobbling up of Scottish firm Simpson & Marwick – pretty well under the stewardship of former senior partner James Burns. The progress has continued under global chief executive officer Peter Hasson, with a focus on US growth where the firm has recently opened offices in Chicago, Washington, Miami and Los Angeles.

It’s a bold and eye-catching strategy for a UK-headquartered firm to target the notoriously tough to crack American market, but Clydes’ financials indicate that so far it seems to be working. Revenue passed the half a billion pound mark this year, rising 14% to £508.1m, with profit per equity partner down slightly (2%) to £650,000.

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Key Info

Training contracts 50
Latest trainee retention rate 79%
Offices 46
Countries 21
Minimum A-level requirement AAB
Minimum degree requirement 2:1

Insider Scorecard

Training
A
Quality of work
A
Peer support
B
Partner approach-ability
A
Work/life balance
A
Perks
B
Office
A
Canteen
B
Social life
B

Insider Scorecard Grades range from A* to D and are derived from the Legal Cheek Trainee and Junior Lawyer Survey 2017-18 of over 2,000 trainees and junior associates at the leading law firms in the UK.

Hours

Average arrival time 9:08am
Average leave time 7:01pm
Annual target hours 1,450
Annual leave 25 days

Money

First year trainee salary £36,000
Second year trainee salary £38,000
Newly qualified salary £63,000
Profit per equity partner £650,000
GDL grant £7,000
LPC grant £7,000

Diversity

UK female associates 51%
UK female partners 16%
UK BME associates 16%
UK BME partners 14%

The Firm In Its Own Words