Clifford Chance Tallies £2.3 Billion in Revenue for Record Year

Clifford Chance brought in £2.3 billion ($2.97 billion) in global revenue last year, an all-time high for the UK-founded law firm.

The firm’s gross revenue grew by 9% over the fiscal year, which ended April 30, Clifford Chance said Wednesday. The firm also reported £2.04 million in profits per equity partner, a slight uptick from the previous year.

The new figures mark nine consecutive years of revenue growth for Clifford Chance. They come as the firm and others from London’s “Magic Circle” ramp up efforts to compete for business in the US, where Clifford Chance saw a 28% revenue gain over the year.

“If we carry on at this pace, we will be the size of a decent-sized US firm,” Charles Adams, global managing partner for Clifford Chance, said in an interview. “We are not looking to become a US-only firm, we’ve got a balanced map with 22 jurisdictions that make up Clifford Chance’s offering.”

The firm over the past 18 months looked to expand into areas where it lacked adequate depth, Adams said.

Clifford Chance launched a Houston office in June 2023, giving the firm a pathway into the lucrative Texas deals market.

The firm also made several US hires outside Houston, adding Jason Ewart, a global financial markets partner from Latham & Watkins; Kris Ferranti, a real estate partner from Shearman & Sterling; and Marcia Hook, an energy and infrastructure partner from Kirkland & Ellis, among others.

Clifford Chance reported high single-digit growth in its legacy markets of Europe, including the UK, and in the Middle East, the firm said.

Linklaters and Allen & Overy, a pair of other Magic Circle firms, also attributed their revenue gains last year to strong performance in the US.

Allen & Overy’s gross revenue climbed to £2.2 billion in the year before its merger with New York’s Shearman & Sterling, while Linklaters reached the £2 billion mark for the first time. London’s Ashurst LLP is looking to crack the £1 billion threshold this year after reporting gains in the US.