ALLEN & OVERY
INTERNAL PROMOTIONS
| Overall |
2004-05 |
2005-06 |
2006-07 |
| |
20 |
14 |
33 |
2006-07: Finance 18, corporate 9, IP 1, litigation 2, tax 3
2005-06: Finance 7, corporate 2, litigation 3, private client 1, tax 1
2004-05: Finance 9, competition 1, corporate 4, employment 1, litigation 2, tax 3
LATERALS
| Overall |
2004 |
2005 |
2006 |
| |
7 |
3 |
13 |
2006: Finance 3, competition 1, corporate 6, litigation 3
2005: Corporate 3
2004: Finance 3, litigation 1, real estate 1, tax 2
Intake as percentage of partnership: 10.2
New female partners as percentage of intake: 17.4
Firms recruited from: Day Berry & Howard, Dewey Ballantine, Freshfields BruckhausDeringer, Gianni Origoni Grippo & Partners, Lovells, O’Melveny & Myers, Norton Rose
Equity structure: 358 equity partners, 92 non-equity
Practice area(s) most heavily promoted: Banking/finance, corporate
*Figures supplied relate to the calendar year
Allen & Overy enjoyed a much healthier outlook all round in 2006. Internal promotions more than doubled on 2005 to the highest rate ever, lateral hires skyrocketed and partner departures slowed to fewer than 20. That said, London’s corporate team saw seven partner exits and the firm’s Turin office was shut down.
London still accounts for nearly half of all promotions, but it is somewhat overlooked when it comes to partner hires, taking just two in 2006. As a whole Asia did well in 2006 with the most promotions in six years, with five new partners. Unsurprisingly, banking and finance saw the most overall internal promotions, but when looking at total new intake, corporate came hot on banking’s heels. The magic circle firm has been making real efforts to address the hiring and retention of its staff and introduced a swathe of initiatives in 2006, including the introduction of the roles of senior associate, counsel and PSL counsel, as well as three-year sabbaticals.
