Wall Street firm Weil Gotshal & Manges has unveiled a muted partner promotion round making up 12 of its lawyers compared to last year’s record tally of 26.

The promotions are shared across six of the firm’s offices with women making up the majority — seven of the 12 partners are female.

The 58% gender balance in favour of women compares to 42% in the 2021 round, while in 2020 just four of the 11 new partners were female (31%).

“Our new partners represent the best of Weil,” said Weil executive partner Barry Wolf. “They are a diverse, exceptionally talented group of lawyers who practice in multiple areas across six of our global offices. We are delighted to celebrate their achievements and their extraordinary dedication to our clients.”  

While a number of US firms have unveiled reduced rounds this year compared to 2021, when deal markets were in over-drive, the extent of the decline in the Weil tally is notable. However, the cohort is broadly in line with previous years making 2021 look like an outlier. 

In terms of geography, New York was noticeably less dominant than last year when more than half (14) of the 26 new partners were based at the firm’s headquarters. 

This year New York shared the honours with its offices in Washington DC and London, three partners being made up in each of these key global legal hubs. 

The firm’s Miami, Silicon Valley and Paris offices made up the numbers, with a partner being promoted in each of these bases. 

Last year — in a reflection of the booming deal markets at the time — lawyers from the private equity and M&A teams dominated, accounting for nine of the 26 promotions.

By contrast just two private equity/M&A partners made the grade this year, with banking and finance proving the most popular practice area for partner hires, accounting for three new partners.

Like many elite Wall Street firms, Weil has a relatively small international footprint. It has eight office in the US, five in Europe and three in Asia. Lateral hires — and departures at partner-level — remain relatively rare. 

Notable partner level laterals secured by the firm this year include two restructuring specialists: Jeffrey D. Saferstein, who joined from Paul Weiss Rifkind Wharton & Garrison in New York; and Lois Deasey, who joined in London in June from Akin Gump Strauss Hauer & Feld. 

In September the firm secured New York-based Daniel L. Stein from Mayer Brown to co-head its white collar practice.

Other top firms to have unveiled their new partners include Latham & Watkins, which equalled last year’s intake by making up 44 partners, and Jones Day which made up 45 lawyers, a slight drop on the 48 who made the grade last year.

The full list of partners

The new partners are:
Patrick Brendon: Banking & Finance (London) 
Jessie Chiang: Banking & Finance (New York) 
Jean-Baptiste Cornic: Private Equity/M&A (Paris)
Mei Dan: Private Equity/M&A (Silicon Valley)
Kaitlin Descovich: Public Company Advisory Group (Washington, DC)
Alfonso J. Dulcey: Tax (Miami)
Olivia J. Greer: Technology & IP Transactions (New York)
John O’Loughlin: Regulatory Transactions Group (Washington, D.) 
Emma Serginson: Banking & Finance (London)
Lauren Tauro: Restructuring (New York)
Jacquelyn E. Volpe: Private Funds (London)
Timothy C. Welch: Regulatory Transactions Group (Washington, DC)