Clyde & Co
A guide to the law firm Clyde & Co: what it’s best known for, recent work highlights, what it pays, and its revenue and profitability.
Last updated:
December 10, 2024
A guide to the law firm Clyde & Co: what it’s best known for, recent work highlights, what it pays, and its revenue and profitability.
Clyde & Co is an international law firm headquartered in London.
Clyde & Co is renowned for its expertise in insurance, shipping, and aviation and the firm is often the go-to choice for complex disputes and transactions in these areas.
The firm’s journey began in 1933, when it was founded by Scottish lawyer Richard Arthur Clyde in the heart of London’s insurance district, advising underwriters and insurers in the Lloyd’s market.
The firm's growth trajectory has been marked by a deliberate strategy to establish a presence in key markets and sectors worldwide. Its early focus on shipping law provided a solid foundation for its global expansion, leveraging London's position as a global maritime and insurance hub.
The firm began expanding internationally in the 1980s, opening its first overseas office in Hong Kong in 1981 with others following across the Middle East, Asia, Europe and the US.
Clydes’ growth has been both organic and through mergers, notably including its merger with UK firm Barlow Lyde & Gilbert in 2011, a move that significantly bolstered its insurance and litigation practice. BLG had revenues of around £85 million and the merger created a new firm with revenues of over £300 million at the time.
In July 2022, Clydes merged with BLM, a UK law firm focused on insurance and commercial law. The merger significantly expanded Clydes' capabilities in the casualty, personal injury, healthcare, and professional liability sectors. It also helped the firm boost its revenues by 20% in 2023.
Today, Clyde & Co is a complete full service international law firm (with a notable focus on disputes) and one of the UK’s largest law firms.
The firm has 2,378 lawyers, including 494 partners, working in over 60 offices and associated offices across six continents.
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Recent work and industry highlights for Clyde & Co include:
Representation of Nautical Challenge Ltd: In 2021, Clyde & Co represented Nautical Challenge Ltd in its dispute with Evergreen Marine in what was described as the most significant collision case in the English Courts in almost 50 years.
Glory’s acquisition of Flooid for £169m: In January 2024, Clyde & Co advised long standing client Glory Global Solutions (International) Ltd on the acquisition of Flooid, the cloud-based commerce platform for retailers, from the private equity firm Inflexion for £169 million.
Victory in $70m Oil Tanker Disappearance Claim: In 2022, Clyde & Co successfully represented Al Buhaira National Insurance Company (ABNIC) in a significant marine insurance case in the Dubai International Financial Centre (DIFC) Courts. The DIFC Courts ruled in favour of ABNIC, deciding that it had jurisdiction over a $70m claim for the alleged disappearance of an oil tanker.
Record Fine For Money Laundering Failures: In January 2024, Clyde & Co was fined £500,000 by the Solicitors Disciplinary Tribunal (SDT) after admitting it failed to comply with anti-money laundering regulations in relation to a former shipping company client based in Liberia. The fine was the joint highest ever imposed by the SDT.
Middle East Expansion: Clyde & Co shifted its Middle East regional headquarters from Dubai to Saudi Arabia in early 2024 to align with Saudi Arabia's Regional Headquarters Programme (RHQ) which gives companies which establish their regional HQ in the country tax breaks and the opportunity to bid on lucrative government contracts.
Paralegal Academy: In 2023, Clyde & Co launched its Paralegal Academy, offering a new pathway into its casualty practice. The 12-month program, targeting graduates with a minimum 2:2 degree, provides an opportunity to transition into a solicitor role via the SQE route while working as a paralegal.
Clyde & Co is a full service corporate law firm, with particular expertise in insurance, shipping and international trade. Its clients include companies, insurers, financial institutions and governments.
It’s particularly known for its strengths in the following areas:
Insurance: The firm is a global leader in insurance law, advising on complex and high-value disputes, regulatory matters, and transactions thanks to its deep industry knowledge and global reach. It lists all the major insurers as clients, including AXA, Aviva and Zurich. Clyde & Co has a Band 1 ranking by Chambers for ‘Insurance: Contentious Claims & Reinsurance’.
Shipping and Maritime: With a long-standing reputation in maritime law, Clyde & Co handles major maritime disputes, finance, and commercial matters. The firm says it now has the largest shipping practice in the world with over 170 specialist marine lawyers “based in trading hubs around the globe”. The firm has a Band 2 ranking by Chambers for Shipping.
Aviation: Clyde & Co is recognised for its leading aviation practice, advising banks and financing parties, aircraft lessors and airlines. The firm advises on disputes, finance, and regulatory matters in the sector. Clydes says its lawyers “have represented the aviation industry in nearly every major aviation loss over the last 25 years”. The firm is ranked in Band 1 by Chambers for Aviation.
We use Chambers rankings to demonstrate a firm's strengths. Chambers is the most highly-regarded provider of law firm rankings in the legal industry. Law firms are ranked in bands from 1 (highest) to 6 (lowest) across a range of practice areas.
It's important to note that being ranked in any band at all is still considered a significant achievement.
Clyde & Co is a 'mid-market' firm with a large International footprint and noted expertise in insurance. Its main competitors include Pinsent Masons and Eversheds Sutherland.
Here’s what Clyde & Co pays its London trainees and newly qualified (NQ) lawyers:
Trainee First Year: £47,000
Trainee Second Year: £49,500
Newly Qualified (NQ): £85,000
We have a list of salaries paid by all of the UK’s top law firms here.
Clyde & Co is the 11th biggest law firm in the UK by revenue. In 2023, its revenue was £788.6 million.
In 2023, its profit per equity partner (PEP) was £708,000.
In 2023, Clyde & Co’s average profit per equity partner (PEP) was £708,000.
This is the total amount of profit available for distribution among equity partners, divided by the number of equity partners at the firm.
This represents the average amount that equity partners are entitled to. Some will receive significantly more, some less. It depends on the firm’s profit-sharing formula and each partner’s seniority.
Clyde & Co takes on around 70 trainees each year in the UK.
Trainees complete four seats in different departments, each lasting six months.
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