Travers Smith has slashed its number of new partners by more than half, making up four associates after nine in last year’s round.
Unlike last year, the firm made no promotions in its tax, banking, competition, IP/IT or environment and planning groups, favouring one new partner each in litigation, private equity, funds and corporate finance instead.
Managing partner Chris Carroll said the fall in the number of new partners had nothing to do with market conditions, adding: “We take a long-term view when we make up partners.
“They are all top candidates and we expect them to do very well.”
Unsurprisingly for the corporate-dominated firm, three of the four successful candidates fell within the corporate practice.
Private equity specialist Helen Croke was the sole female associate to make the grade this year, after none in 2007.
The new partners will join the partnership on 1 July, but will have to wait before they can take home a share of the equity.
Last year the firm increased the amount of time a junior partner must wait until moving from the firm’s salaried probation tier into the equity tier from two years to three (The Lawyer, 7 May 2007).
The new promotions are:
Helen Croke, private equity
Robert Fell, litigation
Anthony Foster, corporate finance
Sam Kay, funds