With private practice diversity statistics still often trailing their clients, last month saw rhetoric translated into targets at Ashurst and Linklaters, as they became the latest City law firms to commit to a female partnership ratio.
Linklaters is the third Magic Circle firm, after Allen & Overy (A&O) and Clifford Chance, to set itself targets, declaring that 30% of all partner promotions will be women by 2018, while its female management roles will double within the same time frame.
The firm’s 26-member board is currently only made up of 15% women, with the new target bringing it up to 30% in four years. In May the firm named Sarah Wiggins as its first female corporate head, while 43% of the firm’s partner promotions this year were female.
Wiggins said: ‘It seems now is the right time; clients are increasingly asking more about diversity. I want to help ensure that more women are able to come through. This is not a main focus for me, as the firm is already working on this, but being a woman, I want to help develop this.’
‘Clients are increasingly asking about diversity.’
Sarah Wiggins, Linklaters
Linklaters notably shied away from publicly announcing a target for an overall female partner ratio, such as the ‘20% by 2020’ target introduced by A&O – boosting its current female partnership numbers by 5%.
However, Ashurst said in June that by 2018, 25% of all equity partners and management positions will be female, and that 40% of its annual partner promotions will be women. The international advisory group led by managing partner James Collis told Legal Business the firm is committed to achieving this target through consultation, regional training, setting specific objectives and a renewed focus on transparency in reporting.
These latest developments followed similar moves by Herbert Smith Freehills, which has a female partnership ratio of 16% and pledged that by May 2017 at least 25% of partners will be women, followed by 30% in May 2019.
Meanwhile, Pinsent Masons aims to hit a 25% female partnership by 2018, with a further aim to reach 30% after that. Baker & McKenzie last year announced its plan to double its female partnership to 30%, while Hogan Lovells and Eversheds are also targeting a 30% figure.