Clifford Chance managing partner David Childs (pictured) is considering his options for the future as he prepares to hand over to his successor, with retirement from the firm among the likely routes.

Partners expect Childs, whose second and final four-year term ends in May 2014, to take up a role outside the firm after he steps down, with one saying Childs is “definitely” retiring, and another partner at the magic circle firm adding: “As far as I know there are no plans to bring him back into practice, which is a shame.” Another source close to him said he was currently “looking for a job”.