CC eyes Indian market with Amarchand hire
Clifford Chance has significantly bolstered its Indian group with the hire of a capital markets partner from top Indian firm Amarchand & Mangaldas & Suresh A. Shroff & Co.
Rahul Guptan, who was based in Amarchand's Mumbai office, will join Clifford Chance's Singapore office as a partner.
Clifford Chance global managing partner David Childs said: "This is a logical development of our growing India group, which has been advising clients on Indian matters for over 50 years and is preparing to offer services in India as soon as regulations allow."
While the firm is not currently allowed to practice in India, its Indian group operates across 16 offices in 12 countries.
Clifford Chance head of capital markets David Dunnigan said: "We have a thriving practice and our clients' demand for advice on Indian transactions grows daily."
Guptan joined Amarchand's Mumbai office in 1999 and was appointed partner there in April 2006.
International firms have been recruiting increasing numbers of Indian law school graduates and laterals from top Indian firms, contributing to a full-blown salary war for the country's legal talent (as reported in The Lawyer 14 April).
Amarchand managing partner Cyril Shroff said that by poaching Indian lawyers international firms are building distrust at an institutional and industrial level.
He said that Amarchand would continue working with Clifford Chance in future and added: “For us it is business as usual as our second level is strong with capital markets partners Yash Asher and Arjun Lall filling in for Rahul.”
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Readers' comments (35)
IndLex | 27-Aug-2008 4:25 pm
Indian Lawyers!!
Congratulations to Guptan and CC on their new partnership. I am sure this will be the beginning of an interesting period in the CC’s India practice. I hope this also marks the dawn of a new phase in the domestic firms’ thinking about a more meritocratic system of career advancement and remuneration, which in turn will do wonders for associate retention.
The string of comments on this article is rather interesting. Some of them seem to (mis)use the term “Indian Lawyers” to represent a homogeneous class of lawyers.
Just as not all English, American or lawyers trained in any other jurisdiction will not have a business case to be made up as partners, there are Indian lawyers who will make it to the partnership ranks and those who will not. So, let’s not make a massive generalisation and say that most Indian lawyers will not make it to partnership in the Magic Circle/international firms and that they are always concerned about the shortest route to the top!
They are individuals first, lawyers second, and the fact that they are Indian does not affect either of the two characteristics, and certainly does not affect their capability. (Please take note Mr. Magic Circle Partner. So much for the diversity talk from the Magic Circle bandwagon.)
There seems to be a lot of banter about this move being treacherous? Why in the world is it being described so?
Talent will move where it feels it has the potential to achieve its maximum potential and is valued the most, and what is the harm if Guptan felt this was the case in CC and not with the Shroffs? It is for him to decide and he has taken a decision and left the building.
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Magic Circle Partner | 28-Aug-2008 10:07 am
white mans club
partnership in global firms is basically a white mans club. the partnership composition in the magic circle firms is ample evidence. also, i do know from regular interactions with other magic circle firms that there is a glass ceiling. asian exceptions could be made on an opportunistic basis for market access. thats how it works!!i agree people come and go firms go on forever.
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young associate | 28-Aug-2008 10:10 am
hero?
enough has been said. all this talk about treachery is nonsense, however guptan was a role model for many young associates. but, unfortunately for him his last move has done him no credit. he's just like the others.
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Anonymous | 25-Sep-2008 9:42 pm
Much ado about nothing
I wonder whether it is the deplorable condition of the markets/ envy at not being able to clinch the deal themselves/ or just plain joblessness that has led people to comment on guptan's move to CC, in such numbers.
Fact of the matter is, Guptan has moved on, like the Bharucha's and Umakanth (who were frankly much better than guptan) and AMSS has coped. Well. How long it would continue to do so is anybody's guess. It is a family-owned firm, with hellish hours, out-moded policies and a culture that encourages junior associates to have their head up some partner/ senior-associate's ass rather than be good at their work. About time thatthey did a serious rehaul of their operating practices. As for guptan, only time will tell, if his extraordinary networking (euphemism) skills help him sham his way through CC as they did at AMSS...
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Indian lawyer | 14-Oct-2008 12:28 pm
Significant Move
It is a significant move indeed that Rahul has moved to CC as a partner. Perhaps it reflects the coming of age of the Indian business lawyer. As for comparisons with other Indian lawyers who have made similar moves, all I can say is that each of them seized the opportunity when presented with it. Rahul would have done himself a disservice had he not taken the opportunity to move to CC.
Congratulations, Rahul! You've done us proud!
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