The top-earning partner at magic circle law firm Clifford Chance took home £3.2m last year amid a boom in City dealmaking.
According to accounts filed on Companies House, the profit share of the firm’s highest-earning lawyer jumped by a fifth compared to the previous year.
Clifford Chance refused to confirm who netted the highest sum. In July, it announced that average pay for full equity partners rose 9pc to £1.85m each over the past year.
It came as demand for professional advisers reached unprecedented levels last year amid a record 12 months for mergers and acquisitions.
Clifford Chance’s revenues from corporate clients jumped by a tenth to £603m during the year to April, up from £544m in 2020.
The London-based firm netted £2m from advising the European Super League last year, before the plan to drastically shake-up top flight football collapsed under a cloud of controversy.
It also advised financial heavyweights such as JP Morgan and Deutsche Bank during the period, as well as private equity giants including CVC Capital Partners.
The significant increase in demand for corporate lawyers has put a strain on staff working at firms across the City, with reports of junior staff in particular experiencing burnout.
A survey by Legal Cheek last October found that City lawyers were working increasingly longer hours, with associates at Kirkland & Ellis working until 11.30pm on average.
Kirkland & Ellis said it had brought in a psychologist and an addiction expert to help its staff.
Last month, Clifford Chance announced that Matthew Layton, the firm’s global managing partner for the past eight years, will be replaced by Milan-based Charles Adams in May.
It is the first time the magic circle firm will be led by a partner based outside the UK.
The firm’s total revenues for the year to April rose just 1pc to £1.8bn. However, profits were boosted by lower operating costs as its Canary Wharf headquarters remained shut for much of the year and business travel costs were nearly non-existent.
Clifford Chance declined to comment.
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