Interesting piece in UK’s Legal Week yesterday…..
Saying that both Clifford Chance and Allen & Overy have pushed back their 2000 partner promotions until both firms complete restructuring
Legal Week writes:
Clifford Chance and Allen & Overy have delayed their 2009 partner promotions, making them the only Magic Circle firms to do so.
Clifford Chance is pushing back this year’s promotions process until the firm completes its restructuring, which was approved by a March 23 vote and is likely to see the firm’s partnership cut by between 10 and 15 percent.
The firm said it expects the review to be completed by the summer and that it will begin the partner promotions process once the restructuring is finalized.
A Clifford Chance spokesperson said: "It makes sense to defer final decisions until the firm has concluded the partnership review that is currently underway."
Similarly, Allen & Overy is also thought to be delaying its partner promotions process until at least the beginning of May, when the firm expects to have completed its global restructuring.
The full story at http://www.law.com/jsp/law/international/LawArticleIntl.jsp?id=1202429725574
