Legal Business

‘Clifford Chance is brave to be looking at these things’: City giant mulls move towards all-equity

Latest proposed changes by Magic Circle firm after recent overhaul of governance structure

Having taken the summer to vote through a substantive overhaul of its governance structure, the autumn agenda of Clifford Chance (CC) will see the partnership consider whether the firm should move to an all-equity model.

The Magic Circle firm currently deploys a single profit pool, lockstep system and partners spend three years as juniors before progressing onto the equity, which ranges between 40 and 100 units.