UK Magic Circle firm Clifford Chance has re-elected Charles Adams as its global managing partner for a second four-year term.
Adams will officially start his second term on 1 May next year after securing the backing of the firm’s partnership. He was first elected as global managing partner in 2021, succeeding Matthew Layton in the role in May 2022.
During his first term, Adams has helped steadily grow revenue year on year, fuelled by expansion in the US and the Middle East. Revenue rose 9% to £2.4bn in the 12 months ending April 30 this year, up from £1.97bn when he took over in 2022.
He has also overseen a steady inflow of lateral hires, including bolstering its private capital and M&A capabilities with the arrival of partners such as Bruce Embley from Skadden in London back in January.
Adrian Cartwright, global senior partner at Clifford Chance, said: “Charles has successfully spearheaded our growth strategy, with a focus on enhancing client experience, attracting and retaining the best talent and driving operational excellence.
“The partnership welcomes Charles’s continued leadership as we further strengthen our firm to address clients’ most complex cross-border requirements, delivering a seamless and collaborative global service.”
Adams originally joined Clifford Chance in 1992 and was promoted to partner eight years later, working in its global financial markets practice across its New York and Milan offices. Prior to being elected as global managing partner, Adams was regional managing partner for Continental Europe.
He said: “It’s a privilege to continue serving as global managing partner. I would like to express my gratitude to our clients for the trust they place in us, to my partners and to everyone at Clifford Chance who has contributed to our ongoing success.
“I am immensely proud of what we have accomplished together and look forward to continuing to lead our growth and create lasting advantage for our clients.”
Last month, Clifford Chance said it will cut business services roles in London, with up to 50 jobs potentially affected, according to a report by the Financial Times, around 10% of its back office staff in the city.
A further 35 employees could see the scope of their roles change, according to the FT, with greater use of AI among the factors driving the change, alongside reduced demand for some business services and more work being done in hubs in India and Poland, where Clifford Chance opened an operations hub last year in Warsaw.
Other Magic Circle firms have also sought to maintain leadership continuity amid a more uncertain operating environment. Back in July, Freshfields elected Georgia Dawson to serve a second five-year term as senior partner. Dawson was the first woman to be appointed to lead a UK Magic Circle firm.
However, Slaughter and May in February announced David Johnson would be succeeding Deborah Finkler – the firm’s first managing partner – at the end of her first term.
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