Gibson Dunn & Crutcher and Mayer Brown have bucked the downward trend of London partnership promotions at transatlantic firms, with record numbers made up.
Gibson Dunn made up its first promotions since 2004, with four in the capital, while Mayer Brown made up the most with 10 out of its 43 firmwide promotions coming in London. Last year the US firm made up just two.
While Cleary Gottlieb Steen & Hamilton and Milbank Tweed & McCloy both dropped from two partner promotions in London last year to none this year, Weil Gotshal & Manges remained steady, with two promotions for the third year running.
Weil head of international private equity Marco Compagnoni said: “We’re pleased that we have again promoted two in London. We don’t have salaried partners at Weil and we won’t ever apply this model. We believe admitting lawyers straight into the partnership is a much healthier way to run and structure a firm.”
Last month (29 October) The Lawyer reported that US firm Shearman & Sterling was vowing to focus on internal growth, boosting trainee intake with a view to increasing partners in the city.
Kirkland & Ellis has jumped from three promotions last year to four in London this year, out of a total of 62. The number of promotions in the firm’s London office has risen steadily by one each year since 2004, when it promoted one lawyer to partner in London.
Latham & Watkins‘ overall promotions figure has dropped from 30 to 19 this year, with London promotions dropping from five to two.
Sullivan & Cromwell remained static in terms of London promotions, making up one. Overall the firm promoted six this year compared with eight last year.
