Barlow Lyde & Gilbert has promoted 18 associates to the rank of associate director, the City firm announced today (23 June).
The firm’s corporate practice saw the lion’s share of the promotions, with five associates made up the senior rank, while the professional and financial disputes practice saw four associates get the nod.
The reinsurance and international risk practice received three promotions, while casualty promoted two associates. Aerospace, commercial risk and the marine, energy and trade team each saw one newly-promoted associate apiece.
The top 40 UK outfit created the new role last year as a measure to reward the firm’s most experienced associates, with no fewer than 36 making the step up last year.
Commenting on the promotions, senior partner Richard Dedman said: “These are a group of highly talented lawyers who will help drive our business forward.”
The promotions come after Barlows this year promoted eight associates to its partnership, with the professional and financial disputes practice gaining the largest portion of new partners with five.
Meanwhile, rival City firm Norton Rose last month fast-tracked 25 associates to higher rates under its new three-tier pay scale. Associates at the top 20 firm were promoted to more senior positions following a shake-up of the firm’s remuneration system in February that resulted in a shift away from a model based on post-qualification experience.
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the irony is that under the Barlows bonus system a senior associate who is billing a reasonable number of hours can earn more that a newly elevated associate director. the consensus amongst associates at the firm is that the (relatively) newly created role is both a ruse for those with frustrated partnership ambitions and, perhaps more obviously, a way of shifting the partners' managerial burden so that they can do less work.
The last post has got it in one. Ever been had?
Got to agree with the first post. Morale continues to flag at the firm and it seems despite the pr machines' efforts to create a brave new firm impression, the new management team has done very little in terms of turning the firm around.
Totally agree with the last post. Barlows spends a fortune continually pumping out marketing bilge suggesting everything is fine and dandy. To the credit of "Legal Week", it has not published Barlow's utterly nauseating press release regarding the "Associate Directors" which has gone into a certain rival publication today.
Sounds like the sooner the new SP is in place the better.
Wouldn't count on new sp saving the day.
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