Shearman & Sterling has offered newly qualified (NQ) jobs to all but one of the trainees who are due to qualify into the US firm’s London office in September.
The firm has offered NQ roles to seven out of the eight qualifiers – all have accepted – giving it a retention rate of 87.5%.
Last year, 11 out the 12 September qualifiers were kept on, giving it a retention rate of 91.5 per cent
Shearman’s London managing partner Nick Buckworth said: “We’re pleased so many of our trainees will remain with us as associates this year.
“A key component to our organic growth strategy is our substantial investment in our trainee programme. Training young lawyers and having them develop their careers is a great way to build firm culture and to ensure that the quality of our associates is very high.”
The firm will also welcome 13 new trainees in September.
The news comes as Farrer & Co has revealed it is keeping 100 per cent of its September qualifying trainees, holding on to all ten.