Clifford Chance Posts 8% Revenue Growth During US Expansion

UK-founded law firm Clifford Chance chalked up about 2 billion pounds ($2.4 billion) in revenues in its most recent fiscal year, up 8% from the previous period, the firm announced Tuesday.

Two-thirds of revenues for the year that closed April 30 came from UK and European clients, with the US representing 13% of firm revenues, Clifford Chance said in a statement.

Profit per equity partner, a key metric for law firms, increased 10% to just over 2 million pounds ($2.4 million), global managing partner Charles Adams said.

The firm’s client portfolio “delivered revenue growth in all practice areas,” Adams said. “We have now seen an almost doubling of revenue in financial investors over the last seven years.”

The Magic Circle firm has been expanding in the U.S., now with more than 300 lawyers in the Americas, with a focus on investment fund management. Firm grew 5% in the Americas over the prior fiscal year, Clifford Chance said.

The firm’s corporate advisory practices, as well as the global financial markets team contributed to overall growth, Adams said.

The firm’s partnership profit has increased by 74% since 2015, according to the firm. The figure is calculated after non-equity partners compensation and certain partner annuities are paid, Clifford Chance said.

Among the firm’s clients are UK-founded private equity firm Cinven; American asset management firm Mercer; and Abu Dhabi-headquartered healthcare chain and distribution business NMC Healthcare, Clifford Chance said.