Clifford Chance corporate partners are facing a new management election following chief operating officer (COO) David Childs’ move to stand down as global head of corporate before the end of his official term. The election date has not been set. Childs was appointed COO in October 2003 by managing partner Peter Cornell and has embarked on a radical cost-cutting programme which is set to make savings of £40m over the next two years.

First revealed on 9 March