Freshfields on top
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Oh dear. If you happen to be out in the City this evening look out for the odd Clifford Chance partner weeping into their McEwan’s Export.
No longer the world’s largest firm, no longer a million-pound PEP, and now this.
Not only has Freshfields nudged past CC in turnover terms but PEP at Freshfields is double - that’s double - PEP at Clifford Chance (see story).
Clifford Chance has been a fixture at the top of the revenue rankings for so long that to see it bumped down to second place is almost as much of a shock as seeing a decent British tennis player at Wimbledon.
But the real game for Freshfields is not turnover but profit. The distance it’s put between itself and its magic circle rival on PEP, in the toughest year in living memory, is simply phenomenal.
Smug probably wouldn’t cover it, as Ted Burke & Co break out the Crystal.
