Clifford Chance is set to ask its senior associates to choose one of 13 nominated industry sectors as part of its organisational shake-up.
?The Lawyer reports the sector approach mimics the investment banking industry model. It has been seen as a tool to expand the firm’s client base and knowledge in key areas.
All partners have been asked by the management committee to each sign up to one sector group, The Lawyer reports.
The sectors include consumer goods and retail; communications media and technology; energy; healthcare; industrials; leisure; private equity; real estate; sovereign wealth funds; transport; banking and finance insurance; and investment management.
The firm's corporate head, Matthew Layton, said: “We’re anticipating that all associates will see sectors as part of their developmental path.”
However, different sector groups may require earlier specialisation.
One Clifford Chance source told The Lawyer: “We’re trying to make it fluid, but associates working in groups around regulated industries such as banking or insurance will grow up with an ingrained knowledge that will make it harder to move groups.”