Why London’s Elite Law Firms Are Having an Identity Crisis Over Their “Magic Circle” Status
“Magic Circle” has been the Rolls-Royce of legal labels since the 1990s, describing London’s five most elite law firms: Allen & Overy (now A&O Shearman), Clifford Chance, Freshfields, Linklaters, and Slaughter and May.
But lately, the firms are treating their prestigious nickname like an embarrassing childhood photo on Facebook, working desperately to untag themselves.
When I recently dropped the “Magic Circle” reference in conversation with a senior partner, their response was swift and brutal: “It’s a sign of lazy journalism.”
