Shearman & Sterling has become the first firm in the City to announce its September retention rates, with the US firm set to retain 11 of its 12 of its qualifying trainees.

Shearman has offered 11 positions to its September qualifiers, equating to a retention rate of 92%. All trainees who were offered a job accepted the offer.

The firm posted the same retention rate last year, with 11 out of 12 qualifiers staying on at the firm.