It’s been a tumultuous fiscal year for Clifford Chance, and the extent of the firm’s financial troubles is clearer now with the release of its second annual report. As previously reported, Clifford Chance saw gross revenues fall by 5 percent, lost its status as the world’s largest law firm by revenues — a distinction that now goes to Linklaters — and saw profits drop by a massive 37 percent.
What we also know from the report is that CC’s revenues in the Americas — it has offices in New York, Sao Paulo and Washington D.C. — slipped from 172 million pounds ($344.3 million) to 143 million pounds ($265.19 million).
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