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Rankings published in 2026
Banking and finance
Tier 1
28 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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Tier 2

Baker McKenzie
6 practice areas
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DLA Piper
5 practice areas
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Loyens & Loeff
9 practice areas
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Stibbe
8 practice areas
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White & Case
6 practice areas
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Tier 3

Ashurst Perkins Coie
6 practice areas
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Deloitte Legal
8 practice areas
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Eubelius
9 practice areas
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Jones Day
6 practice areas
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Liedekerke
8 practice areas
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NautaDutilh
6 practice areas
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Tier 4

AKD
4 practice areas
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Altius
6 practice areas
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Argo
7 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Fieldfisher
4 practice areas
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Hogan Lovells Cadwalader
2 practice areas
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Lydian
7 practice areas
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PwC Legal
5 practice areas
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Notable

Ariga
2 practice areas
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Astrea
3 practice areas
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Freshfields
7 practice areas
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Monard Law
7 practice areas
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Strelia
4 practice areas
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Van Bael & Bellis
4 practice areas
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Capital markets : Debt
Tier 1
17 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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Stibbe
8 practice areas
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Tier 2

Loyens & Loeff
9 practice areas
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NautaDutilh
6 practice areas
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Tier 3

Baker McKenzie
6 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Eubelius
9 practice areas
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Freshfields
7 practice areas
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Jones Day
6 practice areas
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White & Case
6 practice areas
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Notable

Argo
7 practice areas
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Ashurst Perkins Coie
6 practice areas
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Deloitte Legal
8 practice areas
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Liedekerke
8 practice areas
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PwC Legal
5 practice areas
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Capital markets : Equity
Tier 1
14 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Baker McKenzie
6 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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NautaDutilh
6 practice areas
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Tier 2

Eubelius
9 practice areas
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Freshfields
7 practice areas
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Stibbe
8 practice areas
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Tier 3

Loyens & Loeff
9 practice areas
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Notable

Argo
7 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Deloitte Legal
8 practice areas
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Jones Day
6 practice areas
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Liedekerke
8 practice areas
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Capital markets : Structured finance and securitisation
Active
6 firms ranked
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Active

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Deloitte Legal
8 practice areas
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Liedekerke
8 practice areas
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Loyens & Loeff
9 practice areas
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Stibbe
8 practice areas
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Financial services regulatory
Tier 3
19 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Bird & Bird
4 practice areas
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DLA Piper
5 practice areas
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Linklaters
8 practice areas
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Simont Braun
5 practice areas
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Tier 2

Baker McKenzie
6 practice areas
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Deloitte Legal
8 practice areas
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Eubelius
9 practice areas
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Gide Loyrette Nouel
1 practice area
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Loyens & Loeff
9 practice areas
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NautaDutilh
6 practice areas
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Tier 3

Altius
6 practice areas
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Ashurst Perkins Coie
6 practice areas
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Clifford Chance
9 practice areas
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K Law
3 practice areas
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Liedekerke
8 practice areas
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Lydian
7 practice areas
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Monard Law
7 practice areas
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Notable

Argo
7 practice areas
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M&A
Tier 2
39 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Baker McKenzie
6 practice areas
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Cleary Gottlieb Steen & Hamilton
7 practice areas
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Freshfields
7 practice areas
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Tier 2

Argo
7 practice areas
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Clifford Chance
9 practice areas
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Eubelius
9 practice areas
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Linklaters
8 practice areas
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Loyens & Loeff
9 practice areas
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Stibbe
8 practice areas
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Tier 3

Altius
6 practice areas
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Liedekerke
8 practice areas
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NautaDutilh
6 practice areas
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Simont Braun
5 practice areas
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Van Bael & Bellis
4 practice areas
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White & Case
6 practice areas
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Tier 4

CMS DeBacker
3 practice areas
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Cresco
5 practice areas
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DLA Piper
5 practice areas
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Deloitte Legal
8 practice areas
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Jones Day
6 practice areas
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Lydian
7 practice areas
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Monard Law
7 practice areas
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Quinz
3 practice areas
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Strelia
4 practice areas
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Van Olmen & Wynant
3 practice areas
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Tier 5

AKD
4 practice areas
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Astrea
3 practice areas
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Contrast
3 practice areas
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Dentons
2 practice areas
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PwC Legal
5 practice areas
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Quorum
2 practice areas
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Notable

Ashurst Perkins Coie
6 practice areas
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Bird & Bird
4 practice areas
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Cambrian
2 practice areas
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EY Law
4 practice areas
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Fieldfisher
4 practice areas
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Four & Five Law
2 practice areas
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PKF BOFIDI Legal
1 practice area
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Project development
Tier 1
14 firms ranked
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Tier 1

A&O Shearman
8 practice areas
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Clifford Chance
9 practice areas
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Linklaters
8 practice areas
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Tier 2

Loyens & Loeff
9 practice areas
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Lydian
7 practice areas
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Stibbe
8 practice areas
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Tier 3

Deloitte Legal
8 practice areas
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Eubelius
9 practice areas
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Jones Day
6 practice areas
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Liedekerke
8 practice areas
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Monard Law
7 practice areas
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Tier 4

DLA Piper
5 practice areas
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White & Case
6 practice areas
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Tier 5

Fieldfisher
4 practice areas
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Linked Reviews
Financial and corporate

Part of the “Magic Circle”, Clifford Chance is among the largest and most well-recognised law firms around the world. The firm’s track record in Belgium goes back to 1968, and today the firm fields a large team in its full-service office in Brussels, 

 

Focusses / specialisms 

The firm has a prominent position across a multitude of financial and corporate areas in Belgium. 

In banking, the team has one of the top financing practices in Belgium, which is frequently seen on high-value projects and infrastructure financings, leveraged and acquisition financings, corporate loans, derivatives transactions, financial collateral arrangements and complex restructuring mandates. 

The capital markets team is also among the best in the country. It advises issuers and lead managers on a wide range of high-profile transactions including bonds issuances, EMTN programmes, equity offerings and IPOs. 

In M&A, the firm advises both buyers and sellers on large, most often cross-border, matters spanning key sectors of the Belgian economy. 

In the projects space, the firm advises on some of the most impactful and complex infrastructure project developments both in Belgium and abroad in various sectors, from energy to telecoms infrastructure. The team’s infrastructure team has recently been exporting its expertise on a global scale, supporting landmark work all over the world. 

 

Key clients 

Key clients for the firm include Eneco, Azelis, Choice, Société Générale, Kingspan, Antin Infrastructure, Eurofiber, EQT Infrastructure, AVAIO Capital, Macquarie, Thyssenkrupp, Elia Group, ING Belgium, BNP Paribas Fortis, Belfius, AB InBev, European Investment Bank, the Belgian state, Crédit Agricole Corporate & Investment Bank, Bank of America, JP Morgan and MUFG. 

 

Client feedback: 32nd edition (2022/2023) 

M&A 

“The lawyers of Clifford Chance were very professional and quick to respond, this made the process much easier.” 

 

Project development: Energy 

“The law firm provides comfort and confidence to the customer, they allocate sufficient time to understand the project and the needs of the customer, they become an active part of the team in complex projects like ours and are going beyond their duty in providing legal advice. They always respond quickly to the calls and requests even if they have to do it during a short break while in another meeting. Clearly, they have a lot of experience in interconnectors, and they are able to provide pragmatic solutions for complex problems. Their business mindset and attitude to be balanced in negotiations help us succeed our goals.” 

10 results10 results
Deal Highlights
2 results2 results
Deal Name Deal Date Firm Name Jurisdiction Deal Type Lawyer Names Client Names Client Role
Aedifica S.A. - Bond Issue
2021-09-01
Clifford Chance
Belgium
Bond issue
ABN AMRO Bank, Belfius Bank, BNP Paribas, ING Bank, Morgan Stanley
Underwriter
Ghelamco Invest NV - Bond Issue
2021-06-01
Clifford Chance
Belgium
Bond issue
KBC, Belfius Bank, BNP Paribas, Société Générale
Underwriter
Corporate partner Aline Cardin and counsel Alexander Tollast discuss winning the instruction, road-testing the EU Pilot Regime and turning a first-of-its-kind transaction into know-how
Gibson Dunn has hired a seven-lawyer investment funds team from Clifford Chance in Paris, led by partner Xavier Comaills, as the firm continues its European expansion
Clifford Chance, Bowmans and Udo Udoma & Belo Osagie were among the top winning firms at the awards dinner held in Cape Town on March 17  
M&A
Corporate M&A and PE lawyer Alexandra Wilde has been appointed as managing partner to ‘lead the next phase of growth across the US region’
New hires were made across the PE, M&A, real estate, antitrust, finance and capital markets practices in the UK and the US
M&A
New hires were made across the corporate, PE, regulatory and finance practices in Abu Dhabi, Brussels, Sydney, Rome, London and the Cayman Islands
Lawyers at Clifford Chance and Skadden examine how the regulation has driven legal demand at their firms and transformed advisory strategies
A revamped rulebook has given a boost to London IPO activity that looks set to continue in the fourth quarter and into 2026, lawyers tell IFLR
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