FRESHFIELDS BRUCKHAUS DERINGER

INTERNAL PROMOTIONS

Overall	2004-05	2005-06	2006-07
	16	21	11

2006-07: Corporate 6, tax 3, finance 1, IP 1
2005-06: Corporate 7, finance 6, competition 2, dispute resolution 2, employment 2, tax 2
2004-05: Corporate 6, dispute resolution 3, finance 3, employment 2, tax 2

LATERALS

Overall	2004	2005	2006
	7	1	1

2006: Restructuring/insolvency 1
2005: Corporate 1
2004: Corporate 3, competition 1, dispute resolution 1, employment 1, finance 1

Intake as percentage of partnership: 2.5

New female partners as percentage of intake: 0

Firms recruited from: Davis Polk & Wardwell

Equity structure: 483 equity partners (fixed-share partners will not be introduced until the 2007-08 fiscal year)

Practice area(s) most heavily promoted: Corporate, tax, finance

*Figures supplied relate to the calendar year

The last year has been one of restructuring for Freshfields Bruckhaus Deringer, which has seen the approval of the introduction of a salaried partnership tier as the firm seeks to overhaul its equity structure.

By the end of 2006-07 a total of 100 equity partners will have been axed over the course of 18 months. Out of those, around 25 are still with the firm as consultants.

As a result partner departures in 2006 stacked up at 44, compared with a three-year average between 2003 and 2005 of 19. This was largely due to 30 partners choosing to leave in October 2006 to take advantage of the firm’s old pension system before changes were introduced.

With that general picture of retrenchment, the firm made up only 11 associates to the partnership in 2006-07, nearly half the amount of the previous year, and made just one lateral hire in London. True to tradition, corporate was most heavily promoted, accounting for 54.5 per cent. IP got its first promotion in four years, but real estate has been passed over since 2003. Despite the firm’s protestations that projects is still an integral part of its offering, no PFI or PPP partners were made up in 2006-07.

But 2006-07 was the first year that New York overtook London for partner promotions with three to London’s two, an indication perhaps of just how seriously the firm takes the US market.