Magic circle firm Clifford Chance has elected 26 new partners, stressing the need to invest in talent during the coronavirus crisis.
Of the 26 new partners – down from 30 last year – 35% are women, meaning the global partnership is almost 21% female. Nine lawyers were promoted in London and a further 10 were promoted in the Americas and Asia Pacific, where the firm is looking to expand.
Managing partner Matthew Layton said: ‘It is precisely now, when so many organisations face fundamental challenges as a result of Covid-19, that our continued commitment to investing in people and our leading global capabilities remains as resolute and important as ever. Having the right people, with the right skills, and the right culture at the heart of our partnership puts us in the right place to support our clients when they need us most and is at the very core of the long-term success of the firm.’
The promotions take effect on 1 May.
City firm Ashurst yesterday revealed that it is has delayed partner promotions because of ‘continuing market uncertainty’. A spokesperson for Ashurst said: ‘We continue to monitor global market developments and look forward to celebrating the achievements of our new partners when we have a clearer understanding of ongoing market movements and their longer term impacts on our business.’
Simmons & Simmons has also deferred its partner promotions until later this year. A spokesperson said: ‘The annual partner promotions process has been slightly delayed but will continue as planned in June using video conferencing. We are pleased that technology will enable us to continue with this significant stage in our associates’ careers.'