Mayer Brown will be cutting its September 2016 trainee intake by half, taking in just ten applicants compared to their usual intake of 20.
The firm said in a written statement: ‘We constantly monitor the resource demands of all parts of the London business, as well as our ability to commit to our trainees and provide them with high quality training and career opportunities with the firm.’ Despite the September cuts Mayer Brown’s March intake will remain at five.
In terms of retaining its trainees, the firm confirmed today (25 July) that from a total of 15 trainee applicants previously, the firm has retained ten or 67% for September 2014. Fellow US firm Weil, Gotshal & Manges continued in the same manner it has adopted in recent years, keeping on the vast majority of newly qualified lawyers and retaining all 11 London trainees in its Autumn 2014 cohort
Dominic Griffiths, graduate recruitment partner and head of banking and finance at Mayer Brown said: ‘We are delighted that ten of our trainees will take up a permanent position at the firm and we look forward to seeing them progress as they continue to build their careers.’
Griffiths added: ‘At Mayer Brown we aim to match our trainees’ preferences with the needs of each department to ensure that there is a good fit and this will continue to be our priority. Some of our trainees will be leaving us in order to pursue opportunities outside the firm and we wish them all the very best for the future.’
Weil’s 11 associates will be joining teams across a broad range of practices, including corporate, banking, restructuring, private funds, tax, employment and real estate.
The 100% trainee retention rate follows London office’s promotions in January of Mark Lawford and Hannah Field-Lowes, who joined Weil as a trainee, to partner. Most firms have increased their trainee retention rates this year, with Magic Circle firm Freshfields one of the few exceptions. Weil maintained a high trainee retention rate in London in the aftermath of the recession, retaining 87.5% of trainees in March 2010, with the firm looking to expand its UK capacity as London firms slashed theirs to accommodate for a fall in mandates.
Graduate recruitment partner Jonathan Wood said: ‘We are delighted that each of our trainees have accepted their offers and will be joining Weil to embark on the next important phase of their careers. Our high retention rate is testament to both the importance the London office places on our graduate recruitment scheme, which is one of the most highly regarded schemes in the City and one which attracts the best and brightest talent.’