Covington chalks up 100 per cent retention

Covington & Burling will retain all of its autumn 2015 qualifying trainees, with the seven qualifying into varied practice areas.

Four newly qualified (NQ) lawyers will qualify into the corporate department while the commercial and technology, dispute resolution and employment teams will take on one NQ apiece. None of the trainees are on short term contracts.

Covington’s rate follows high rates from several US firms in London. Weil Gotshal & Manges notched up 100 per cent retention as did Shearman & Sterling, while Latham & Watkins revealed a 95 per cent rate, keeping 20 of its 21 trainees as NQs.

Covington’s London office saw revenues rise by 8 per cent to $59.9m during the 2013/14 financial year, the most recent year for which data is available. This positive performance was accompanied by a 10 per cent rise in lawyer numbers while partner numbers fell by 4 per cent, signifying an investment in junior staff.