Reed Smith retention: firm hangs on to 67%

Reed Smith has revealed its autumn 2016 retention, keeping hold of eight of its 12 qualifiers, a rate of 67 per cent.

All the newly-qualified (NQ) solicitors will take up roles in London, with two joining the corporate department, two going to commercial disputes, and the final four taking up roles in employment; energy and natural resources; financial industries; and shipping.

Over the last four retention rounds, the corporate and finance departments have taken the most qualifiers (eight each) followed by shipping (six) and commercial disputes (four).

After a series of strong results, the firm’s retention has been less rosy in 2016, with seven of 12 kept in on the spring. In March, one NQ joined the firm’s pro bono team.

Reed Smith training principal Samantha Roberts said: “As in the spring, we had positions available to accommodate all of our qualifying trainees but of the twelve, eight will remain with us and we are delighted to have them on board. We wish those trainees not continuing with the firm all the best.”

Earlier today, Addleshaw Goddard revealed its autumn retention, holding on to 81 per cent.