The invisible ladder of M&A: the path to partnership
A progressive journey where technical excellence, team management and business development define access to partnership in M&A across three leading firms
by gonzalo blázquez
Experts: Javier Bustillo, corporate/M&A partner at EY; Mayo Torres and Santiago López, associates at EY; Eva Ferrada, partner at Uría Menéndez; Alfonso de Marcos, partner in Global Transactions at Freshfields.
Partnership is not a leap, but a gradual construction in which technique, business acumen and leadership overlap over time. More than a single moment, it is a process of transforming a lawyer into a fully rounded professional. At Iberian Lawyer, we set out to explore the path to partnership from three perspectives: a Big Four firm, a domestic law firm and an international practice. From EY, with Corporate/M&A partner Javier Bustillo alongside associates Mayo Torres and Santiago López, to Eva Ferrada, partner at Uría Menéndez and head of general secretariat and HR, and Alfonso de Marcos, partner in Global Transactions at Freshfields — all offer insight into how this journey unfolds within their firms.
Bustillo describes the process as “a progression through very clear stages”: from technical grounding to team management and ultimately direct client exposure. “There is no abrupt shift, but rather an accumulation of responsibilities,” he notes.
From the associate level, the process is also seen as continuous. As Mayo Torres and Santiago López from EY put it: “You move from learning to executing, then to coordinating and finally to managing clients; it’s a fairly linear progression where responsibilities build up naturally.” On what matters most to reach partnership, they add: “It’s a combination of factors. There isn’t a single decisive element.”
A view shared by De Marcos, who emphasises that “the step up to partner is built first on a very strong technical foundation and, over time, on the ability to advise clients with commercial judgement, international perspective and leadership.” In his view, the process is demanding but coherent: “rather than more difficult, it is a very complete journey that requires growth as a lawyer, as a relationship manager and as a future partner within a global platform.”
For Eva Ferrada, Uría Menéndez’s model is “designed to support lawyers’ development over time, combining professional performance, continuous training and close, personalised monitoring of their progress.
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