CC promotes five in China amid global partnership restructuring
By Yun Zhang
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Tuesday, 28 July 2009
After losing its spot as UK's largest law firm by revenue to Linklaters and finalising its partnership restructuring plan, Clifford Chance has moved on with the election of 17 lawyers to its partnership. The new partners are based at various locations in the firm's global network, including five in the greater China region.
The five new China-focused partners are Matthias Feldmann, Matthew Truman and Donna Wacker in Hong Kong, and Terence Foo and Yang Tiecheng in Beijing. Feldmann and Foo are members of the corporate practice group, Truman and Yang focus on finance practice, and Wacker is in the litigation and dispute resolution group.
All other 12 promotions are outside Asian region, including three in London, two in the US and one in Dubai. The promotions will take effect from 1 August and will take the firm's global partnership to 587.
In February this year, Clifford Chance revealed its plan to reduce the size and shape of its partnership. The partnership restructuring is reportedly to shrink the firm's global partnership by about 15% by early 2010.
DLA Piper and Baker & McKenzie are two other international firms that have made new partner appointments following their layoff announcements in the region. The changing pattern of client demand in the market is clearly one of the driving forces behind law firm appointments and restructurings.
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