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The firm had aimed to reach 33% female partners by the end of the 2020/21 financial year, but missed this by 4%, according to a person at the firm.
The firm has since hit that percentage after several female partner hires, the person added.
This is the second time Ashurst has rejigged targets after failing to hit previous aims. The firm missed its 2018 target of 25% female equity partners and then refreshed targets that year to aim for the 33% figure.
Ashurst is not alone in failing to hit historical aims. Research by Law.com International earlier this year uncovered over a dozen examples of historical missed targets.
Top firms including Hogan Lovells, Linklaters, Freshfields Bruckhaus Deringer and Norton Rose Fulbright have all missed at least one diversity target in recent years.
Ashurst has made progress with some of its previously set targets however, including to have a quarter of all of its management positions held by women by 2018, and more recently to have 50% of senior business services roles held by women. The firm exceeded the latter target by over 10%, according to a person at the firm.
New global targets set by the firm’s board this week include: for the firm’s partnership and senior business services leader roles to consist of 40% women, 40% men and 20% flexible which refers to men, women or individuals who identify as non-binary and 4% of LGBTI+ representation at partnership and senior business services leader level.
In the U.K., the firm is aiming for 15% of partners and senior business services leaders to be ethnically diverse, of whom 6% will be Black; at least 35% of trainees each year to be ethnically diverse, of whom 13% will be Black and 30% of legal and business services staff to be ethnically diverse, of whom 13% will be Black.
Ashurst ranked fourth in research by Law.com International earlier this year that analysed the gender make up of their annual cycles going back to 2016. Since then, the firm has promoted 54 women compared to 54 men in total.
Global managing partner Paul Jenkins said that since Ashurst set its gender targets in 2018 the firm had significantly improved the gender balance of promotions to partnership (increasing from 58% to 78%), the proportion of females in legal leadership roles (increasing from 23% to 30%, including 50% of the executive team now being female) and business services leaders (increasing from 38% to 61%).
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