The latest City firm to announce its 2014 partner promotion round, Travers Smith today (19 May) revealed that it has made up two associates to partner, the lowest number in three years.
Commercial, IP & technology lawyer Ben Chivers and banking, corporate & recovery lawyer Jonathan Gilmour have both been promoted to the 289-lawyer firm’s partnership with effect from 1 July 2014.
The figures are a marked drop from two years ago, when the firm promoted eight to partner across its banking, corporate, pensions, and disputes practices, after last year saw a drop to just three promotions in litigation, investment funds and banking & corporate recovery.
Travers promotions follow announcements from Stephenson Harwood, which in early May made up just two City associates to partner, and Osborne Clarke, which notably made up five new partners in its 2014 UK promotion round, constituting the firm’s highest-ever UK figures in three years.
Top 50 UK firms Watson, Farley & Williams (WFW) and RPC also unveiled their figures this month, making up 13 and three lawyers respectively. Both were significant increases on last year, when WFW made up just four, while RPC promoted one to partner.
On the latest promotions, Travers managing partner Andrew Lilley said: ‘I am delighted to welcome Ben and Jonathan to the partnership. These promotions are very well deserved and reflect our commitment to quality. Ben and Jonathan have the depth of knowledge and experience which will ensure our clients continue to receive the very best advice now and in years to come.’