Clifford Chance (CC) has reported 9% revenue growth to £2.4bn in the year ended 30 April 2025, fuelled by strong growth in the US and Middle East.
Partnership profit was up 11% to £944m, while profit per equity partner (PEP) rose marginally for the second consecutive year, from £2.04m to £2.11m.
The firm’s revenue and profit growth mirrors that of Magic Circle rival Linklaters, which grew its topline 11% to just over £2.3bn and pre-tax profit to more than £1bn for the first time in FY25. However, Linklaters’ stronger PEP growth of 15% saw it push past CC’s to reach £2.2m.
CC noted it had performed strongly across all regions with Europe (including the UK) and Asia Pacific delivering solid revenue growth of 6% and 5% respectively, and a 36% increase in the Middle East. Meanwhile, the US region achieved a second year of significant growth with an 18% jump in revenue.
Charles Adams, CC’s global managing partner, said: “All our regions recorded robust growth, most notably the Middle East. Despite more challenging market conditions in the US during the second half of the financial year, we maintained our strong growth trajectory, taking our revenue increase in the region to more than 50% in the past two years.”
CC said all its global practices had experienced strong demand, with heightened client activity in the private markets, including the rapid expansion of private credit, fuelling growth for the firm’s private equity/M&A, financing, and funds and investment management teams, along with associated product lines.
The firm advised on M&A transactions totalling $232bn in 2024 and ranked 6th globally in H1 2025, according to Mergermarket data.
CC’s US growth has been supported by a string of lateral hires and its office opening in Houston in 2023. Over the past financial year, the firm has hired 13 partners in the US across its New York, Houston and Washington DC offices. It now has 122 partners in the US.
More broadly, the firm added 31 lawyers to its global partnership in its most recent promotions round, as well as adding 34 laterals across the firm during the 2024/25 financial year. The firm boosted its private capital capabilities with 12 partner hires across New York, London, Paris and Singapore, including well-known M&A partner Bruce Embley, who joined the firm’s private equity team in London from Skadden in January.
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