CC revenues set to top £1bn

Clifford Chance’s revenues are set to break through the £1bn barrier this year in preliminary figures released by the firm.

The figure would be a rise of at least nine per cent on last year’s fee income of £914m.

Meanwhile, partners at the top of the lockstep are expected to earn at least £850,000, up 20 per cent on last year when top of equity was £710,000.

The results will be a vindication for the cost-cutting regime introduced by new managing partner David Childs, who took over this month.

As chief operating officer, Childs masterminded a £40m cost cutting programme with the aim of boosting profit per plateau partner to £850,000.

The firm is not expected to release its final accounts for a few weeks.