A recent survey of lateral hires in the UK tax and private wealth sector shows some noteworthy improvement as far as gender equality is concerned.

Last year saw a 7 per cent growth in the hire of female partners within the UK tax and private wealth market, according to research by executive search firm Wilkinson Partners and international law firm Withers.

According to the survey, there is now a one in three balance of women against men in the lateral hire population, compared to one in four a year earlier.

“There's no denying that moving from one in four female lateral hires to one in three is a major step, and we believe that it provides evidence of an unstoppable trend towards equal gender representation in professional services,” said Tom Wilkinson, managing partner of Wilkinson Partners.

Overall, the tax and private wealth recruitment market saw the number of hires jump 27 per cent year-on-year, following a 19 per cent increase in UK partner hires by US law firms and a 20 per cent rise in hires outside London.

“My experience is that firms often fail to assess lateral hires in a systematic way,” added Daniel Isaac, partner in Withers' employment team.

“Rather than looking carefully at the individual's strengths and performance, people frequently put far too much importance on the candidate's business plan and the work they promise to bring with them. Indeed, many firms almost encourage exaggerated promises, by demanding candidates who can deliver a large following.”