We’ll say it again. Where are all the female partners? While partner numbers at US firms have soared by around 25 per cent since the credit crisis in 2008, gender diversity remains a thorn in the side of many international firms in London.
In 2013, women represented just 17.6 per cent of UK partners across the top 30 international firms in London.
As revealed in the top 30 international firms in London rankings for 2012, US firms have been making big investments via the lateral hiring market. This method of bulking up in the City was identified as one of the challenges to gender diversity, with a number of sources pointing to how male-dominated the lateral hiring market is.
A year on, there’s little sign that attitudes have shifted. In total, 63 per cent of the top 30 had five or fewer female partners during 2013, with the UK offices of Davis Polk & Wardwell and Simpson Thacher both running an all-male partnership during the year.
A quick scan of last year’s lateral hires says it all. US firms in London, its time to grow organically.
PS. This Friday The Lawyer’s Matt Byrne, Hannah Gannagé-Stewart and Joanne Harris will be joining a Dickson Minto led-team on an epic 300-mile cycle from London to Paris. We’re raising money for very worthwhile charities, and would love your support. Click here if you’d like to sponsor us. Thank you.
Also on The Lawyer:
- Clarke Willmott has been kicked off the Crown Estate’s rural panel and replaced by Bond Dickinson in its latest panel review
- DLA Piper, Addleshaw Goddard, Pannone Corporate and TLT have been appointed to the first-ever legal panel installed by online fashion retailer Boohoo
- Freshfields’ best-known dealmaker has handed in his doorpass, Barry O’Brien retired yesterday and is to join US investment bank Jefferies