Author: Sofia Lind
01 Dec 2009 | 13:05
Weil Gotshal & Manges has announced a depleted partner promotions round, with just three lawyers set to join the partnership on 1 January 2010.
No London-based lawyers will join the firm's partnership in this year's round, with the total of three promotions representing less than half of last year's tally, when seven were made up worldwide, including one in the City.
The latest promotions see the firm's New York headquarters gain one new partner, with business finance and restructuring lawyer Ronit Berkovich set to join the partnership. The other two appointments are in Silicon Valley and Budapest, where patent litigation lawyer Anne Cappella and corporate and dispute resolution lawyer will join the respective partnerships.
The firm has also made up six new counsel, all of which are based in the US. Four are in New York, with Silicon Valley and Miami gaining one apiece. Banking and finance has gained two counsel promotions, as has patent litigation, while the real estate and business finance and restructuring practice groups will see one new counsel each.
Weil chairman Stephen Dannhauser said: "We are immensely proud of this year's new partners and counsel. They represent the future of our law firm, and we salute their hard work, determination, and commitment to excellence."
In general, fewer associates are winning promotions at US firms this year, with industry experts speaking to Legal Week sister title The New York Law Journal attributing the trend to the economic downturn.
Last month Cleary Gottlieb Steen & Hamilton elected four new partners firmwide, halving the number it promoted the previous year. Meanwhile, Latham & Watkins cut its promotions from 28 to 23 this year, with Proskauer Rose naming four new partners as opposed to five last year.
US firms to have announced partner promotions earlier in the year include Skadden Arps Slate Meagher & Flom, which named eight new partners firmwide in April, a reduction from 25 last year. Davis Polk & Wardwell named four new partners in July, compared to six in 2007.
Firms outside New York are also promoting fewer associates, with Paul Hastings Janofsky & Walker naming six new partners, down from 11, while Gibson Dunn & Crutcher's promotions were down from 13 to 11 and Mayer Brown's from 27 in 2008 to 14 this year.
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