Magic circle firm Clifford Chance announced the promotion of 32 new partners – five less than last year – but has work still to do to meet long-term diversity goals.
Of those promoted, 12 of the new partners are female (38%). The firm has a target of at least 40% female and at least 40% male global partners by 2030.
In the announcement made today, Clifford Chance said the new partners ‘highlight the significant strength and depth of expertise available…to clients across global markets, products and sectors’.
Not all the partners disclosed their ethnicity but of those who did, 38.5% of the 14 new US and UK cohort identified as under-represented minority ethnic partners. It is the third year that the firm exceeds its target of 15% of new partners from ethnic minority groups by 2025.
Of the 32 new partners, whose promotions come into effect on 1 May, 13 are based in mainland Europe, including Frankfurt, Germany, Milan, Italy, and Warsaw, Poland; nine are in the UK and five from the Americas.
Charles Adams, Clifford Chance global managing partner, said: ‘These new partners demonstrate Clifford Chance’s commitment to invest in and promote exceptional talent. They will help us to focus on areas which will deliver outstanding results for our clients and shape our future as one of the world’s premier global firms.’
Adrian Cartwright, Clifford Chance Global senior partner, added that the ‘diverse group of new partners’ will ensure the firm ‘continue to ‘deliver outstanding client engagement and a superior quality client experience’.
He said: ‘Each of these talented individuals has demonstrated their expertise, collaborative team approach and deep commercial understanding that defines how we support all our clients.’
This year, the international firm boasted profits before tax of £812m for the year 30 April 2022 – a 17.3% increase on the previous year – while turnover rose to £1.969m, a 7.7% rise and the highest ever recorded by the firm.
