One of London’s most profitable law firms has made up six partners in the latest round of promotions, the lowest number for three years.

On the way up at Macfarlanes are Felicity Powell (Corporate and M&A), Laura Bridgewater and Fred Snowball (Litigation and Dispute Resolution), Paul Hardwick and Michael Shaw (Private Client), and Joe Robinson (Tax and Reward).

As of 1 April 2024, the Holborn-headquartered firm will have 96 partners.

In both 2023 and 2022 Macfarlanes made up eight partners, with five making the grade in 2021.

Sebastian Prichard Jones, senior partner, said: ’Promotions of new partners have been a key driver of our growth and I am delighted to welcome this year’s cohort to the partnership. Each of our new partners practise in areas where we see exciting opportunities for the future.’

Elite City firms are feeling the effects of a decline in corporate transactional work in what remains a generally buoyant legal services market. Earlier this month magic circle outfit Slaughter and May made up five new partners - also the smallest annual round of promotions in three years.

Last July Macfarlanes announced that in the year to 30 April 2023 operating profits slipped 6.1% to £154.1m on turnover down 2.3% to £296.6m . The year was described as ‘challenging’ by Prichard Jones.