Allen & Overy and Clifford Chance cast magic spell

City firms Allen & Overy and Clifford Chance are officially in the magic circle, according to the latest edition of legal directory The Legal 500.Although they have long been considered magic circle firms, the two have been bunched in the same category of commercial firms in London as Freshfields, Linklaters and Slaughter & May for the first time in the directory's 13-year history.The Legal 500 said the move came as a result of the firms' 'global reach, finance expertise and growing corporate strength'.Allen & Overy was praised for its effective inter-departmental cross-selling, 'outstanding integration of its finance practice' and its international capital markets.Both firms were rated highly for their private finance initiative work, while Clifford Chance was applauded as having 'probably the most credible US banking practice of any UK law firm'.A spokesman for Clifford Chance said: 'We're very pleased, it's been a good year and we are delighted that the market has recognised this.' Other firms in the top ten were Herbert Smith, Lovells, Ashurst Morris Crisp, Norton Rose and Simmons & Simmons.

Herbert Smith was described as snapping at the heels of the magic circle most effectively.In 11th to 20th positions, Denton Wilde Sapte was raised to the upper echelon where it joins Travers Smith Braithwaite and Macfarlanes.

The directory said DWS was dominating in energy and media work.

Jeremy Fleming