Clifford Chance revenue surges to £2.4bn as US drives growth
Profit at British elite law firm Clifford Chance surged to £944m last year, marking the third consecutive year the legal firm has reported profit growth.
The London-based law firm’s revenue increased by 9 per cent, to £2.4bn, after it surpassed £2bn for the first time in 2023.
As a result, equity partners are set to pocket just over £2.1m each.
The profit per equity partner (PEP) is up from the £2.04m they received last year and the £2m those partners received over 2023.
The firm said it achieved “a strong performance” across all regions, but it had a notable 36 per cent uptick in revenue in the Middle East.
Clifford Chance pushes into the US
Like the rest of the ‘infamous magic circle’ firms, Clifford Chance has been pushing heavily into the US.
Over the last financial year, the firm hired numerous partners to expand its New York, Houston, and Washington, D.C. offices, bringing the total number of US partners to 122.
As a result, the firm saw the US region achieve its second year of growth, with an 18 per cent jump in revenue.
Commenting on the results, Charles Adams, Clifford Chance’s global managing partner said: “Our record results underscore the resilience of our balanced global platform, the diversity of our client base, and the strength of our exceptional team in advising clients on their most complex matters.”
“All regions and practice areas contributed to our strong performance amid macroeconomic headwinds, and our sustained profitable growth has enabled continued investment in talent and operations, positioning our firm for future success, ” he added.
This comes after Linklaters revealed their 2024/25 financials on Tuesday, which revealed profit at firm surged past £1bn for the first time.