Three of the seven Clifford Chance Badea counsels will begin the complex process of selection and promotion to global partner of Clifford Chance, one of the largest legal firms in the world. The initiative follows the lawyers' recent performances and a 2013 with the best results reported so far for the local office.
"In recent years, we've seen exceptional results in all business lines, which has also been reflected in our rankings by major international legal directories – almost without exception, top tiers for our practice areas," Daniel Badea, Managing Partner, said. "Without a doubt, this result is the merit of our entire legal team, most of the lawyers being with us since the beginning, in 2002. Their dedication and performance have consolidated our profile and were echoed both within the business community and at Clifford Chance global level. All these considered, we believe that the local office and the market we address have reached a maturity point where the Partners team needs to expand. It is a decision confirmed at the management meeting recently held in Bucharest."
At the end of May, Clifford Chance Badea organized a regional management meeting with 70 Clifford Chance partners and counsels from Central and Eastern Europe – CEE (the offices in Bucharest, Warsaw, Prague, Kyiv and Moscow), as well as Western Europe (Amsterdam, Frankfurt, Luxembourg, Madrid, Milan, Munich and London). The event was also attended by the two global leaders Matthew Layton, the new Global Managing Partner, and Malcolm Sweeting, Global Senior Partner.
The election to the Clifford Chance global partnership is an extremely complex and thorough process, with all candidates being reviewed in a centralized manner. The network has 36 offices in 26 countries, and 3,300 lawyers. Recently, Clifford Chance has announced 21 new global partners, thus reaching a total of 587 worldwide. Separately, 39 lawyers were promoted to Counsel.
The office in Bucharest is led by Daniel Badea, Managing Partner, and Nadia Badea, Partner, both also Clifford Chance Equity Partners. The team includes seven Counsels that coordinate, alongside partners, the main practice areas.
Starting July 15, Perry Zizzi has decided to leave the Clifford Chance team. "We want to thank Perry for his contribution and wish him good luck in the future," Daniel Badea added.
On July 1, Clifford Chance reported its global financial results for the fiscal year ended Aprilie 30. Revenues were 1.36 billion pound sterling (USD 2.17 billion*) - an increase of 7% year on year. The revenues were the highest ever reported by Clifford Chance, with all regions and all practices experiencing growth.
*The exchange rates used to determine the US Dollar equivalent figures are USD1.60/£1, which is the average annual exchange rates for the year ended 30 April 2014.
Clifford Chance has been present in Romania since 2006 and operates now as Clifford Chance Badea. The Bucharest office is frequently involved in complex transactions such as syndicated loans, project finance, restructurings, Eurobonds and shares issues on international capital markets, derivatives, companies' acquisitions by strategic investors or private equity funds, infrastructure and motorway projects, real estate investments etc., as well as domestic and international litigation and arbitration.
In the most recent editions of Legal500, Chambers Global and IFLR1000, Clifford Chance Badea ranks first among law firms in Romania under the section of Banking & Finance and Capital Markets. It also has a strong Corporate and M&A practice, ranked Tier 1 by Legal 500, and Tier 2 by Chambers Global and IFLR1000. The IFLR1000 directory also ranks the law firm as Tier 1 for Project Finance and has recently awarded Clifford Chance Badea with the National Law Firm of the Year in Romania Award, at the IFLR's 2014 Europe Awards (April).
Notes to Editors:
1. Clifford Chance is one of the world's pre-eminent law firms with significant depth and range of resources across five continents. As a single, fully integrated, global partnership, we pride ourselves on our approachable, collegiate and team based way of working. We always strive to exceed the expectations of our clients, which include corporates from all the commercial and industrial sectors, governments, regulators, trade bodies and not for profit organisations. We provide them with the highest quality advice and legal insight, which combines the Firm's global standards with in-depth local expertise.
2. Clifford Chance was ranked 'tier one' in more cross-border tables than any other firm in the Chambers Global 2013 Directory. This independent analysis focuses on firms' legal ability, professional conduct, client service, and commercial awareness, and these rankings provide outstanding recognition for the Firm's breadth of expertise and consistency of quality across global markets.
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