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Trowers & Hamlins will keep six of seven of its autumn-qualifying trainees on in newly-qualified (NQ) positions, despite a drop in profits this year.
The top 50 firm will employ five of the six NQs in London, while one will be based in Manchester. Two NQs will qualify into the housing and regeneration departments in London and Manchester, one will work in the banking and finance department, one in corporate, another in dispute resolution and litigation and another in the international department.
Last spring, the firm kept on all 13 of its spring-qualifiers across its UK and Middle East offices, while in autumn 2012 it retained nine of 13 trainees, a 69 per cent retention rate. Spring 2012 marked a low point when the firm kept on just two of seven trainees, the equivalent of 28.5 per cent.
The September NQs are Andrea Dougall, Sarah-Jane Harbour, Rebecca Lawrence, Dale Moulden, Tessa Pang, and Rhiannon Williams.
Tonia Secker, partner and training principal at Trowers & Hamlins, commented: “These NQs have worked incredibly hard over the past two years, and we look forward to working with them in their new roles and as they grow their careers in the law.”
Trowers’ net profit tumbled 14 per cent this year from £16.8m to £14.5m, while globally net profit went down by 21.4 per cent to £15.8m. UK and global revenue also dropped, albeit in a more minor fashion, decreasing by 3 per cent each (9 July 2013).
Trowers elected a new managing partner in 2012. Former private equity co-head Jennie Gubbins replaced Jonathan Adlington as senior partner after his 12 years in the job (12 July 2012). It made up seven partners in April, comprising five in London, one in Dubai and one in Manchester (3 April 2013).