The Lawyer Career Report

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Linklaters

Internal promotions

Overall	2003-04	2004-05	2005-06
	19	31	32

2005-06: Corporate 11, banking 3, capital markets 5, projects 5, real estate 3, IP 1, tax 4
2004-05: Corporate 8, banking/asset finance 6, litigation 4, capital markets 3, projects 3, real estate 2, EU competition 1, financial markets 1, IP/IT 2, tax 1
2003-04: Corporate 6, banking/asset finance 3, projects 2, EU/competition 2, financial markets 2, employment 1, investment management 1, capital markets 1, tax 1

Laterals

Overall	2003-04	2004-05	2005-06
	9	17	12

2005-06: Capital markets 3, corporate 5, executive compensation 1, antitrust 1, banking 2
2004-05: Corporate 5, Banking 2, capital markets/structured finance 4, corporate 4, competition 1, investment management 1
2003-04: Litigation 4, capital markets 1, banking/restructuring 2, real estate 1, TMT 1

Intake as percentage of partnership 2005-06: 9

New female partners as percentage of intake 2005-06: 14

Firms recruited from : Allen & Overy, Clifford Chance, Cravath Swaine & Moore, DLA SchutGrosheide, O�Melveny & Myers, Shearman

Equity structure: 463 equity partners, 118 non-equity partners

Practice area(s) most heavily promoted: Corporate, capital markets

Of Linklaters� 82 internal promotions in the past three years, corporate accounts for by far the greatest share with 25; the UK totalled five over the same period. No other office quite manages that number of corporate promotions, although Cologne got two through in 2005-06 and Paris gained two in 2004-05.

Linklaters has hired no corporate laterals in London for three years. The 10 corporate partner hires have been elsewhere in the network; there has been a flurry of hiring in the Netherlands, Dubai and Brazil, with the odd Paris recruit, but none in any other major European jurisdictions. The combined finance group has held its own against corporate over three years, with 22 internal promotions plus seven laterals.

The pure banking group, including asset finance, has made 12 internal promotions in three years. Of those, five have been in London. The banking group has made two lateral hires every year since 2003-04. These have been overseas, mostly in New York, with the exception of two highprofile acquisition finance hires in London: Stephen Lucas from Clifford Chance and Adam Freeman from Lovells.

Even more strikingly, the projects group � which this year was restructured to loosen the logjam at the top of the equity � has made 10 promotions in three years, of which five have been in London.

Capital markets produces a steady stream of partners and has become increasingly successful in getting candidates through. There was one internal promotion in 2003-04, three in 2004-05 (one in London) and five in 2005-06 (four in London). The capital markets group globally has also been in lateral hiring mode, with eight in three years � all overseas, with New York a distinct focus.

Elsewhere it has been patchier. Real estate has made up five partners over the past three years, of whom two have been in London. Unusually for a magic circle firm, there has even been some movement in IP/IT, with two promotions in 2004-05 and one in 2005-06 following the 2003-04 shake-up of the group. Litigation has produced four promotions (two in London) in three years, but they were all bunched in 2004-05