City office of New York global player set to offer jobs to all four of its autumn 2015 qualifying lawyers
Prestigious New York-based firm Sullivan & Cromwell will retain all four of its autumn 2015 qualifiers in London, the firm announced yesterday afternoon.
The trainees are currently completing their final seats abroad, with two at HQ in New York, one in Hong Kong and another in Paris.
The firm — which has had a London presence since 1972 — will up its trainee intake this year, meaning six training contracts scheduled to start in 2017 are up for grabs.
The small intake of greenhorn lawyers — who will begin life on magic-circle-trumping annual salaries of £97,500 — will be based in the firm’s transactional practice. The firm said they will deal with areas including, capital markets, project finance and restructuring.
This latest retention announcement follows several high rates by fellow US players in the City.
Weil Gotshal & Manges and Shearman & Sterling posted 100% retention figures last month. While Latham & Watkins posted a 95% figure, with 20 of its 21 trainees accepting permanent roles at the firm.
Previously:
Latham & Watkins is latest US firm in London to trumpet high newly-qualified retention rate [Legal Cheek]