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Clifford Chance star Signy quits for Simpson Thacher

It's not the end of CC, contrary to what some commenters are suggesting. Sure, Signy is a very experienced guy, but look,we are now living in a new world and firms like CC are restructuring in order to survive. To survive, firms need cash. The brutal truth is that his clients (Candover) are as good as dead and are unlikely to make any deals any time soon. On Simpson's side, their corporate/M&A is literally inexistant on the UK side, there is no team in place there, nor is there any support team (tax, etc.), which means that Signy won't be able to bring any of his clients to Simpson as Simpson does not have the capacity to handle it. It is a wonder why Signy did not go to a firm with an existing corporate practice. You can rest assured that none of the partners at CC are worried. Signy will be quickly overwhelmed and will not be able to do the kind of work he is used to. Associates at CC may be worried, but the partners there are not as they know that Signy will have to refer work to CC as Simpson simply cannot handle it.

9-May-2009

1:25 pm