Trowers & Hamlins has slashed its number of partner promotions by almost three quarters since last year.
Just four associates were made up, after an all-time high of 15 last year. The two previous years saw seven and eight promotions respectively.
However finance partner Jennie Gubbins said the reduced number of associates promoted reflected a recent wave of lateral hires.
"We have brought in five new partners in the last seven months in lateral hires. So it is really nine new partners in a pretty short space of time," she said.
Three of the new partners are women, raising the female partner intake this year to 75 per cent, from 15 per cent last year.
The firm’s construction, employment, public sector and real estate groups saw one new partner each.
All of the promotions were domestic, and comprised three in London and one in Exeter. Trowers’ lucrative Middle East practice did not see any new promotions, after providing five new partners in 2007.
The new partners were: Alan Tate (construction, Exeter), Tania Tandon (employment, London), Emma Tarran (public sector, London), Julianne Walshe (real estate, London).
All new partners will join the partnership at the non-equity tier.
Senior partner Jonathan Adlington said in a statement: “This appointment of four new partners is a reflection of Trowers & Hamlins’ continued expansion in what is set to be another successful year for us.”
The promotions follow four years of financial growth and record financial results for 2007. Total revenue for the year was up 21 per cent and PEP grew by 15 per cent.