Partner promotions across the top 10 London firms fell by 10 percent over the last financial year, according to Legal Week research, which suggests that law firms are already tightening their belts in preparation for a downturn. Said one managing partner: "Tightening the equity is clearly a trend and you need to have had quite exceptional growth this year to be making drastic increases in partner promotions."
May 27, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Partner promotions across the top 10 London firms fell by 10 percent over the last financial year, according to Legal Week research , which suggests that law firms are already tightening their belts in preparation for a downturn.
The group made up 207 partners in total compared with 231 in 2007, even though across the top 50 as a whole, new partner promotions are marginally up on 2007.
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