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Clifford Chance latest Magic Circle firm to boost New York office with restructuring hire

Clifford Chance (CC) has tapped Chadbourne & Parke for restructuring lawyer Douglas Deutsch, its second hire to the New York office this week.

The hire comes after CC announced on Monday it had taken on Robert Rice, the former chief counsel to the chair of the Securities Exchange Commission (SEC) in New York.

The move comes as rival Allen & Overy made a major play in Manhattan last week, appointing four partners, three from White & Case and one from Proskauer Rose, as well as adding an associate from Milbank, Tweed, Hadley & McCloy as partner.

Deutsch has more than 18 years’ experience in bankruptcy proceedings and restructurings, having worked as an associate at now defunct Texan firm Sheinfeld, Maley & Kay before spending 15 years at Chadbourne & Parke.

CC head of Americas financial restructuring group Andrew Brozman said Deutsch was ‘an excellent fit for our practice’.

‘He has the substantive skills and talent to service and grow relationships with his existing clients as well as those of the firm. We couldn’t be more pleased to welcome him to our team,’ said Brozman.

Deutsch added: ‘Clifford Chance shares my strong commitment to clients and provides me with an incredible global platform to grow my practice. It’s a great fit for me.’

CC also added to the New York office with the hire of Rice as partner earlier this week, strengthening its litigation and dispute resolution practice. Rice brings 25 years of white-collar experience in government and the private sector to the firm.

The Magic Circle heavyweight recently recruited a new chief financial officer, hiring Patrick Glydon from advertising agency Dentsu Aegis Network following the retirement of Stephen Purse, who stepped down after 11 years in the role.

Revenue at the firm for 2015/16 increased 3% to £1.39bn, while profit per equity partner has jumped to its highest level to date, increasing 10% to £1.23m.