Cleary retains 100 per cent of NQs

Cleary Gottlieb Steen & Hamilton will be retaining all of the trainee solicitors who are due to qualify with the firm this September.

This is the ninth year in a row that Cleary has boasted a 100 per cent trainee solicitor retention rate with all five September qualifiers staying with the US firm’s London office.

All eyes will be on trainee retention rates this year with some senior lawyers fearing a downward trend as the credit crunch continues to bite.

As first reported in the October 2007 issue of Lawyer 2B the average retention rate for September 2007 qualifiers was 82.5 per cent, which represented a marginal increase on the previous year when retention rates stood at 81.2 per cent.

In addition to Cleary, Ince & Co, Jones Day, Nabarro and Shearman & Sterlingalso retained 100 per cent of their autumn qualifiers last year.

In contrast Osborne Clarke and Morgan Cole last year reported the lowest retention rates of 61.1 per cent and 55 per cent respectively.