Travers scores bumper partner promotions

Travers Smith is the latest City firm to announce its partnership promotions, making up more than double the associates it did last year.

Nine associates will be promoted into the partnership, effective 1 July. This compares to just four last year and five in 2005.

The corporate-heavy firm was also even-handed in its promotions, with banking, financial services, IP/IT, tax, corporate finance and private equity all benefiting. In fact, tax scored the most promotions, with two. For the last two years, corporate has dominated.

But new partners will have to wait longer before they can be considered for full equity at Travers Smith, where average profits last year stood at £705,000.

As exclusively reported by The Lawyer this week (7 May), the firm has increased to three years the amount of time a junior partner must wait before potentially moving to the equity.

The firm has not made any lateral partner hires for at least four years.

The full list of partner promotions are as follows:

Matthew Ayre (banking),
Tim Lewis (financial services),
Steve McNab (environment and planning),
Dan Reavill (IP/IT),
Nigel Seay (competition),
Simon Yates (tax),
Simon Skinner (tax),
Aaron Stocks (corporate finance)
Ian Shawyer (private equity).