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These are turbulent times for Clifford Chance (CC), which this year lost its long-held title as the world’s largest law firm by revenue after the firm was overtaken by Linklaters and Freshfields Bruckhaus Deringer. Revenue fell 5% to £1.26bn and profits per equity partner fell 37% from £1.15m to £733,000, the sharpest fall among its peer group.

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