Law.com - London Firms Announce Bumper Crop of New Partner Promotions

Law.com - London Firms Announce Bumper Crop of New Partner Promotions
This is an interesting article which tends to suggest that the decision to elevate an associate to partnership is, at least in part, not tied directly to current economic conditions so long as the long term outlook is favorable. That being said, the article notes that only about a third of the partnerships were created in London with the rest being created elsewhere. It would seem, based on this statistic, that the major London firms are rapidly making the transition towards the "transnational business model."