Five more partners from Clifford Chance are set to join Sidley Austin in London, marking the latest in a series of high-profile departures from the Magic Circle firm. The moves bring the total number of Clifford Chance partners leaving for Sidley this year to 10, according to people familiar with the matter.
Details of the Departures
The five partners, whose names have not been publicly disclosed, are expected to join Sidley Austin's London office in the coming months. They specialize in areas including corporate, finance, and disputes. The departures follow a wave of partner exits from Clifford Chance, which has seen at least 15 partners leave since the start of 2023.
Sidley Austin, a US-based law firm, has been aggressively expanding its London presence. The firm has hired a total of 12 partners from Clifford Chance over the past two years, including the latest group. A Sidley spokesperson declined to comment on the specific hires.
Impact on Clifford Chance
Clifford Chance, one of the UK's five Magic Circle law firms, has faced increasing competition from US firms offering higher pay and more lucrative partnership models. The departures are a blow to the firm's London practice, but Clifford Chance has said it remains committed to its strategy and continues to invest in key practice areas.
“We have a strong and deep partnership, and we continue to attract and retain top talent,” a Clifford Chance spokesperson said. The firm has also been recruiting laterals in other areas to offset the losses.
Broader Market Trends
The partner moves reflect a broader trend in the London legal market, where US firms are poaching top talent from UK rivals. According to a recent survey, partner lateral moves in London increased by 20% in 2023 compared to the previous year. The trend is driven by US firms' ability to offer significantly higher compensation packages and more flexible partnership structures.
Sidley Austin has been one of the most aggressive recruiters, having hired partners from several Magic Circle and other top UK firms. The firm's London office now has over 100 partners, making it one of the largest US firms in the city.
