Clifford Chance has made up 17 lawyers in its delayed promotions round, with its London headquarters gaining just three of the new partners.
The firm, which normally makes up partners at the beginning of May, postponed this year’s round so it could focus on its global restructuring (TheLawyer. com, 13 April). The new partners will take up their posts on 1 August.
This year’s round is dramatically different from last year’s, when the partnership welcomed 35 new members to its ranks. Of those, 11 were based in London.
Until this year the London office has generally received the highest percentage of each new intake of partners.
According to firmwide managing partner David Childs, this year’s round demonstrates the firm’s commitment to its international network.
“These promotions reflect the firm’s continued commitment to building breadth and depth of expertise across practice areas and geographies,” he explained. “Investing in the best people and creating outstanding career opportunities for our lawyers remains one of the firm’s highest priorities.”
The firm said it has particularly favoured growth markets in this year’s round, with its Hong Kong and Beijing offices gaining five new partners between them. Dubai and São Paulo gained one new partner apiece.
In terms of practice areas, the firm has continued with its traditional focus of favouring finance, which gained six new partners. Corporate gained five, while capital markets and litigation and dispute resolution each gained three new partners.
The intake is in line with those seen at its magic circle rivals earlier in the year. Allen & Overy promoted 20, down from 28 in 2008, Freshfields Bruckhaus Deringer made up 14, down from 25, and Linklaters promoted 18, down from 28.