Clutch Group Adding Offices, Staff, & Services
The District-based Clutch Group LLC is expanding, preparing to launch a new Zurich office, growing its workforce by more than 10 percent and adding an energy and natural resources practice for the first time.
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Dec 12, 2013, 12:27pm EST | UPDATED: Dec 12, 2013, 5:04pm EST
Ben Fischer | Staff Reporter- Washington Business Journal
Clutch Group provides professional and legal support services to legal departments in heavily regulated industries, a booming business that’s allowed the company to fund the growth through internal reserves, founder and CEO Abhi Shah said.
The company will open a Switzerland office in 2014 to focus on its largest client base, the financial services sector. Fifteen employees are already there working with a key client.
From Washington, Clutch is starting its new energy business with help from Amar Hasan, a former senior legal counsel for a subsidiary of Schlumberger, a major oilfield services company.
Shah said the new service line continues Clutch’s strategy of serving industries that face large workloads of litigation and regulatory issues, such as life sciences, technology and finance.
“Energy-natural resources aligns very nicely in that arena,” Shah said.
Companywide, Shah says its various offices will add about 60 workers to its 450-person workforce by January, including 15 more on top of the 125 already in the District.
Clutch does not release financial figures, but Shah said the company will double its earnings from last year in its current fiscal year, which ends in March.
New regulations on financial firms in the United States and Europe, along with the ever-increasing complexity and data generation across all industries, has caused demand to surge, he said.
“The market environment combined with the client strategy is really what has fueled our growth,” he said.