Clifford Chance offshore Indian lawyers work on 300 deals

CliffordChance_office_10UBS
CliffordChance_office_10UBS
Lawyers in Clifford Chance’s Gurgaon “knowledge centre” have earned 12,000 hours of work in the last financial year, according to the firm’s annual report which was published this week.

“Knowledge Centre lawyers worked with 15 offices last year, putting in over 12,000 hours of work on over 300 client projects,” stated the report.

“On a large project for a major international bank the use of Knowledge Centre lawyers for certain aspects reduced the overall cost to the client by almost 20 [per cent].”

The report noted that the offshore legal started with four lawyers in 2007, adding that “soon there will be 30”.

Lawyers from the Indian offshoring centre have been seconded to Dubai, London, New York and Singapore offices.

Clifford Chance associates have an annual billable hours target of 1,700 hours.

The India-based lawyers therefore would have worked the equivalent time of around seven London associates at 100 per cent utilisation.

One year ago the Indian offshore legal centre employed seven paralegals with another six graduates having been trained at the time.

The offshore centre also provides back office staff and functions to Clifford Chance, including secretarial, document production and related services. It is planned to save the firm £8m in costs.

Clifford Chance publishes its annual report to examine the firm’s performance and strategy over the previous financial year, which saw profits per equity partner drop by 37 per cent.

The 2008-09 financial year report was published this week and referenced Clifford Chance’s best friends alliance with AZB & Partners.

The report stated that this relationship was “based on trust, co-operation and alignment of interests, it’s a ‘two firms, one team’ approach”.

“Anticipating further liberalisation, we have also established a Singapore-based India capital markets team of international experts and a high-profile lateral hire from India,” it said, in reference to Amarchand Mangaldas partner Rahul Guptan joining Clifford Chance in August of last year.

The report added: ”[…] we can now offer our global client base Indian law capability of the highest calibre, while giving AZB and its clients access to our international reach and technical expertise.”

Comments

Legal Patriot 25 Sept 2009, 05:21
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How can they do so? This is grossly illegal ! Are Mr. Sinha of BCI and people at SILF watching this (hope they have net connectivity)? BCI and Law ministry should immediately take concrete action and prohibit this backdoor entry of foreigners in Indian legal market.
Legal Dodo 25 Sept 2009, 09:13
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@Legal Patriot

Not sure what illegality you see in this. Also, how is there a "backdoor entry of foreigners in Indian legal market."? On the contrary, and as I see it, Indian lawyers are entering into the foreign legal market - that too through the front door.
Indian Managing Partner 25 Sept 2009, 09:43
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Legal dodo, we donot want Indian lawyers to enter into foreign markets. They should be available to Indian firms only. India has a fiest lien over them ! Who will do lot of work available here?
Legal Dodo 25 Sept 2009, 10:13
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I needed a good laugh. Thanks.
Guest 26 Sept 2009, 16:41
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no wonder managing partner.. u dont want to pay fair rates 4 legal talent.. it'll shrink ur fat margins i suppose
we hv the 2nd largest no. of lawyers so stop worry abt availability
such cries of protectionism reek of incompetence & unashamed self-serving bias.. my suggestion would be to stop pandering & pull up ur pants cos the market's goin to open up.. 2day or 2morow
Anonymous guest 25 Mar 2010, 19:51
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LPO/KPO markets have generated a lot of employment in India. I dont see anything wrong in entry of foreign firms. We have many lawyers standing outside courts with no work.