Norton Rose reveals retention rate ahead of US merger

Norton Rose has revealed a Spring retention rate for its newly qualified solicitors of 76 per cent.

The Top 20 firm made 13 offers to 17 trainees, all of which were accepted.

Last year, its spring and autumn retention rates matched. It disclosed a retention rate of 78 per cent, keeping 18 of its 23 trainees.

Sarah Kelly, head of recruitment, said: “At a time when the market continues to be challenging we are pleased to report that we are retaining 76 per cent of our trainees.”

Last year, Norton Rose announced a £1.2bn merger with US Fulbright & Jaworksi. The new firm, to be called Norton Rose Fulbright, will go live on 1 June this year. According to Norton Rose, it will be in the top ten biggest law firms globally, by revenue and partner numbers.

The merger follows one of the longest-running tie-up discussions in the legal market, with the UK and US duo understood to have been in talks for over a year.

In 2011, the firm completed two Canadian and one South African merger. However, the firm’s Middle East offices are currently experiencing something of a shrinkage with partners exiting its Abu Dhabi, Dubai and Bahrain offices (18 January 2013).

Last month, White & Case and CMS Cameron McKenna announced NQ retention rates of 86 per cent and 68 per cent respectively.