Latham & Watkins has made up 23 associates to partner, including two in London, as well as promoting 13 associates to counsel.

The number of partner promotions is down by approximately 25% from the 30 promoted last year and the 29 the US firm made up in 2007.

Of the 23 new partners, finance partner Vladimir Maly and corporate partner Rory Negus have been made up in Latham's London office. The bulk of the promotions come in the US, with Germany gaining three new partners across Munich, Hamburg and Frankfurt and Tokyo gaining one. Seventeen of the 23 new partners are either corporate or finance partners, while six of the 23 are women. All of the promotions take effect on 1 January.

Last year six London associates were made up to the firm's partnership, with one promoted to counsel.

The new counsel are more evenly spread, with six in the US, three in Paris, two in Doha and one apiece in Singapore and Shanghai.

The announcement marks a positive end to a year that started on a sour note for the 2,000-lawyer firm. In February, Latham announced layoffs of 250 staff and 190 associates – representing 11% of the firm's associate base.

All 36 associates being promoted are finishing their eighth year at the firm, according to Rick Bress, global chair of Latham's associates committee. The committee, made up of half partners and half associates, joins the firm's executive committee in giving non-binding recommendations for individual promotion to partnership. The firm's management, which has the final say on partner promotion, follows those recommendations in nearly every case, according to Bress.

Bress has been global chair of the committee for four years. He spends about 1,600 hours per year on committee work, and the average member can expect committee business to take up about 500 hours per year.

The 36 associates chosen for promotion represent about 75% of the total number of associates who stayed at the firm long enough to be eligible for partnership, according to Bress.

This article first appeared on The Am Law Daily blog on americanlawyer.com.