Categories:Funds

Clifford Chance loses four-partner funds team to Weil Gotshal

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  • Perhaps the most high-profile blow since Lewinski.

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  • This is an enormous loss for Cliffords. It's a marquee practice and to lose that many senior lawyers in the space of a year to US firms shows that the magic circle are winning the argument.

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  • The writing was on the wall when Jason Glover left. He was the big client man and these guys are pretty junior

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  • I'm surprised that this isn't the top story, taken together with all of the other recent departures it reflects a firm with severe management issues.

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  • I have to wonder what the firm thought it was doing in allowing these four lawyers to depart. To lose Jason was a major blow for the firm's funds practice and, although the lawyers who have left are junior to Jason in terms of experience, the departures appear to compound the perception that there is something rotten in parts of Upper Bank Street.
    Sadly, as an existing client of CC's funds practice, I am still awaiting for the call from a relationship partner explaining the recent departures. If CC cannot deliver on basic client care, why should CC’s clients remain loyal to the firm?

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  • As far as legal skills, status and reputations go, none of Gander, Clark or Benson are anywhere close to being in Glover's category. However, staying at Clifford Chance at least those 3 had a chance of retaining some CC clients (and having someone senior like Nigel Hatfield would have helped). I really don't know how they'll be able to (i) take CC clients over to Weil; and (ii) win new business. Benson is a solid lawyer, but they lack the rainmaker to bring the business in. It is sad to see CC fall from being the best funds practice in Europe to what it has become now.

    Ironically, this should actually benefit STB - if there were any clients who were previously undecided on whether to follow Jason or stick with CC, now will probably all rush to Jason.

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  • I agree with "I know them". I used to use CC (mainly because of Jason) and there is no way people will follow Gander, Clark or Benson (all nice guys, but not rainmakers). STB and the other main U.S. firms in London doing this sort of work, Kirkland & Ellis and O'Melveny & Myers, must be licking their lips in anticipation of taking on a bunch of ex-CC clients.

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