Categories:Funds

Clifford Chance funds chief in shock resignation for Simpson Thacher

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  • Good move.

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  • U.S. firms are now on the verge of a major breakthrough in London, driven by mergers with UK firms and lateral hires such as this.

    UK firms weakness in the massively bigger and more profitable U.S. market is going to finally start really hurting them over the next ten years. Merge or die.

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  • I can't help thinking anonymous (above) is being a bite melodramatic
    .
    This might hurt CC short-term, as Signy leaving did a year ago. But "merge or die"? Is there any suggestion that the firm's in serious trouble? If so, why would partners be so happy to let DC keep steering the ship into the iceberg?

    Personally, i don't see it as anything more than a blip, albeit not an isolated one.

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  • YUL ~ I suspect that the "happiness" (which you believe exists) is more a matter of lethargy combined with lack of any one standing to make a fight of the position.

    Remember no one on RMS Titanic believed it could sink either ..........

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  • @Anonymous 10.54: US firms have already had their major breakthrough in London when it comes to private funds.It's not just Jason Glover, but look at John Daglian at O'Melveny and Mark Mifsud at K&E. They left English firms for Americans because they saw the writing on the wall.

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  • The sad thing is, this couldn't have happened to a nicer bunch of people.

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  • While the CCs of this world will probably recover from losing people like Jason, the real threat from the yanks is to the mid-market funds boys.
    More trouble ahead for SJB?

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  • Perhaps he didn't like CC's hideous new orange and black web site, which is quite possibly the worst corporate site ever.

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  • @ Lee Van Cleef - True, but SJ Berwin do at least appear to be aware of the grave dangers of their position - and the looming threat from US firms and far bigger, global mega firms - hence their desire to merge with Proskauer.

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  • The white shoe firms' profitability in New York is something inherent to New York, and not something inherent to those firms. It lets them afford spectactular big name hires in London, but ultimately their London practices will always be at a similar level of profitability to their UK competitors.

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