Since its 2000 merger with New York's Rogers & Wells, the London-based Clifford Chance has lost more than 30 partners in the U.S. Most left because of tension over Clifford Chance's lockstep compensation system, which limits flexibility to reward overachievers. This year, aiming to improve its profitability and stop desirable partners from leaving, the world's largest law firm has been conducting more rigorous partner reviews. But will anything short of a radical attitude readjustment be enough?
December 02, 2004 at 12:00 AM
1 minute read
Faced with seemingly endless turmoil in the United States, Clifford Chance is attempting to right its ship with some worldwide deck swabbing.
Since its 2000 merger with New York’s Rogers & Wells, the London-based firm has lost more than 30 partners in the U.S., including such standouts as Kevin Arquit, Kenneth Gallo, and, most recently, James Benedict. Most left because of tension over Clifford Chance’s lockstep compensation system, which limits flexibility to reward overachievers.
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