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US firm Debevoise & Plimpton has promoted seven associates to counsel, including two in its London office.
This is nearly double the amount of promotions the firm made this time last year, when the London office lost out on any of the four new counsel.
The London office’s new counsel are corporate specialists Saloni Joshi and Wendy Semel.
Their promotions add to that of London-based tax expert Matthew Soronson, who was one of the three firmwide partner promotions in June 2006.
Debevoise’s London office has been performing very strongly. Last year’s financials revealed that it had experienced a massive 67.5 per cent leap in revenue to £32m on the previous twelve months.
Also promoted to counsel from the associate ranks were four litigation lawyers and one tax expert, all in the firm’s New York headquarters.
Debevoise is one of the few remaining pure lockstep firms with no bonus element to partner remuneration. It traditionally makes up partners in May to June, with counsel promotions coming at the beginning of the calendar year. Global average profits per equity partner stand at just under £1m.