Clyde & Co

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Clyde & Co
Clyde & Co
HeadquartersSt Botolph Building
London, EC3
United Kingdom
No. of offices50+[1]
No. of lawyers1,800 [2]
Major practice areasInsurance, Energy, Trade & Commodities, Infrastructure and Transport[3]
Revenue£639.6 million ($889.2 million) (2020-21)[4]
Date founded1933
Company typeLimited liability partnership
Websiteclydeco.com

Clyde & Co is a global law firm with a focus on five core sectors: insurance, energy, trade & commodities, infrastructure and transport.[3] The firm employs 2,500 legal professionals and 4,000 total staff in over 50 offices in every global region, including Latin America, Africa, Europe, the U.S., Canada, the Middle East, Asia Pacific and the UK.[5][2][6][7] In 2020–21, Clyde & Co's revenue was £639.6 million (approximately $889.2 million).[4]

History[edit]

Clyde & Co was founded by Scottish lawyer Richard Arthur Clyde. He came from a distinguished legal family, which in the last century has produced two Lords President of the Court of Session in Scotland. Richard Clyde's nephew, the late Lord Clyde, was a Lord of Appeal in Ordinary from 1996 to 2001.

The earliest record of Dick Clyde as a solicitor in independent practice dates to 1928. In 1933 he left his position as an assistant solicitor with a local firm, and set up his own office in Lime Street in the heart of London's insurance district. He managed to attract instructions from Lloyd's underwriters and insurance companies, and within a short time went into partnership with Maurice Hill, a member of the founding family of the Liverpool solicitors Hill Dickinson and a descendant of Sir Rowland Hill, who had established the penny post.

Michael Payton, who joined the firm in 1966, assumed the post of Senior Partner in 1984, and was named chairman in 2013, with James Burns was elected to take his place as senior partner. in the next three years, more than 15 new offices were added on five continents including: Düsseldorf, Miami, Cape Town, Johannesburg, Melbourne, and Edinburgh. James Burns was named Management Partner of the year by Legal Business in April 2016.[8][9]

In October 2016, Simon Konsta was elected Senior Partner, having previously been the firm's Head of Insurance since 2013 and a member of its Global Management Board since 2011.[10]

In September 2020, in connection with the investigations into $4.5 billion missing from 1MBD, a $330 million account held by Clyde & Co was named in a civil forfeiture case filed by US Department of Justice prosecutors, who alleged the account was connected to a failed joint project with Venezuela's PDVSA which was established by 1MDB and a company established by Tarek Obaid, PetroSaudi.[11]

Expansion[edit]

Reflecting the firm's growing international outlook, in 1981 Clyde & Co opened its first overseas office in Hong Kong. Many others followed in the Middle East, Asia, Europe, and America.[2]

In 2011, the firm announced mergers with Canadian firm Nicholl Paskell-Mede and UK firm Barlow Lyde & Gilbert (BLG), not to be confused with Canadian law firm Borden Ladner Gervais . The merger with Barlow Lyde & Gilbert was reported as the largest merger between two UK law firms with an expected turnover of over £300 million.[12]

The firm became the first international law office to open in Libya after the overthrow of the Gaddafi regime, with the opening of an office in Tripoli in August 2012.[13]

In September 2015, the firm merged with leading Scottish firm Simpson & Marwick.[14]

In recent years, the firm has opened new offices in Sydney, Perth, Melbourne, Beijing, Madrid, Atlanta, South Africa, Brisbane, Miami, Düsseldorf, Chicago, Washington, D.C., Mexico City, Los Angeles, Orange County, Hamburg and Munich, among others.[15][2][7][16][17]

See also[edit]

References[edit]

  1. ^ "Offices, associated offices and locations : Clyde & Co (en)". www.clydeco.com.
  2. ^ a b c d "About us : Clyde & Co (en)". www.clydeco.com.
  3. ^ a b "Clydes reports 13% revenue increase for 2015-16 as PEP nudges up to new high". LegalWeek.com.
  4. ^ a b "Clyde & Co's turnover edges up 2% to £639.6m against 7.5% jump in PEP UK-based firm says overseas revenue now accounts for more than half of income". Globallegalpost.com.
  5. ^ "Clyde & Co déploie ses ailes au Canada : Clyde & Co (en)". www.clydeco.com. Retrieved 2017-06-22.
  6. ^ "Clyde & Co posts 13% revenue growth : Clyde & Co (en)". www.clydeco.com.
  7. ^ a b "Clyde & Co continues Americas push with Mexico launch". LegalWeek.com.
  8. ^ "Clyde & Co Senior Partner James Burns awarded Management Partner of the year : Clyde & Co (en)". www.clydeco.com.
  9. ^ "Clyde & Co senior partner James Burns : Clyde & Co (en)". www.clydeco.com.
  10. ^ "Simon Konsta : Clyde & Co (en)". www.clydeco.com. Retrieved 2016-11-01.
  11. ^ Davies, Harry (September 18, 2020). US moves to seize $330m of alleged 1MDB assets held by UK law firm . Department of Justice says money in Clyde & Co’s account allegedly linked to Malaysian fraud scandal. The Guardian. Retrieved October 1, 2020.
  12. ^ "Clydes and Barlows to vote on merger deal by end of July". LegalWeek.com.
  13. ^ "Subscribe to read". Financial Times. Cite uses generic title (help)
  14. ^ "Clyde & Co Launches in Scotland With Simpson & Marwick merger  : Clyde & Co (en)". www.clydeco.com.
  15. ^ "Clydes seals double Australia launch with team hire from Links ally Allens". LegalWeek.com.
  16. ^ "Clyde & Co opens ninth US office with Los Angeles launch". LegalWeek.com.
  17. ^ "Clyde & Co to Launch Office in Hamburg - International - The American Lawyer".

External links[edit]