Magic circle firm Allen & Overy’s latest round of promotions has seen just two women make the partnership in a list of 20. The 10% ratio falls far short of the firm’s target, set last year, of ensuring females make up 30% of partnership promotions by 2020.
The promotions are effective from 1 May. Currently, the firm has 20% female partners in London and 18% globally. The Gazette has asked what percentage of partners across the firm will be female when these promotions are taken into account.
This year’s promotions are in 11 offices with 80% of those outside of London. The firm’s Asia-Pacific region is home to seven new partners, five in Singapore and one in both Perth and Seoul.
Hannah Valintine, John Kicken, James Freeman and Andrew Cork are the promotions in London.
Andrew Ballheimer, managing partner, said: ‘The international spread of this year’s new partners is testament to our continued investment in a global offering, which has proved so compelling to clients. I would like to congratulate each of the candidates on their achievement and welcome them to the partnership.’
In its gender pay-gap report, published last month, the firm said that ‘like many organisations’ it had ‘not succeeded in retaining and promoting enough of our best women’.
The firm’s mean pay gap stood at 19.8% - though like many of the top City firms to have reported, equity partners were excluded on the grounds that they are not employees.