Exclusive: A&O ups NQ retention, calls in trainees and recruits associates
11 September 2009
For the second week running, there has been a glimmer of good news for associates and trainees, as Allen & Overy cautiously started recruiting again.

A spokeswoman confirmed that it was looking to recruit securitisation associates. While that is unlikely to please the finance lawyers that the firm made redundant just a few months ago, it is nevertheless an encouraging sign.

In addition, a small number of trainees due to arrive next March have been asked to turn up now - apparently to cover for colleagues who asked to defer the start of their contracts. The firm wouldn't give exact numbers, on the rather doubtful basis that people might then be able to work out who they were. Hmmm. But it confirmed that "several" would be joining early, so let's assume that's three.

Finally, the firm confirmed that 77% of its September qualifiers would be kept on, slightly up on the 70% that was anticipated back in March.

Shhh, don't say it...

Wim Dejonghe, A&O's Managing Partner, said that he was pleased to have been able to keep on more trainees than had been expected, and that whilst the economy was still uncertain "we hope the worst is over".

Associates clearly shouldn't expect large scale recruitment to kick off any time soon. Dejonghe said that  "where there are areas of the firm with a specific business need for a certain skill set, we might need to look for one or two people, but anything beyond that will depend on what the markets do." But still at least this is not a report of yet another round of redunancies.... oh, hold on...