Ashurst‘s raft of investments are coming to light after managing partner Paul Jenkins flagged those costs as a reason the firm saw a 19% drop in profits per equity partner down to £603,000 from £747,000 for the financial year 2015/16.
Continue reading “Project Prism: Inside Ashurst’s integration plans”
An overwhelming majority of King & Wood Mallesons‘ (KWM) European and Middle East partnership has voted in favour of recapitalising the firm, committing £14m in a cash call to put it on a firmer footing.
Continue reading “Paying up: KWM partners vote to inject £14m of extra capital”
King & Wood Mallesons (KWM) has asked its European and Middle Eastern partners to pay in between £80,000 and £240,000 as part of a recapitalisation plan designed to shore up its strained finances.
Continue reading “KWM asks partners for up to £240,000 in cash call to double capital contributions”
King & Wood Mallesons‘ (KWM) European and Middle East business is mulling a cash call months after increasing its loan facility with Barclays from £20m to £25m, as the firm strives to recover from a torrid 18 months.
Continue reading “KWM mulls cash call after increasing Barclays facility to £25m”
At a recent drinks evening with a leading City law firm, Legal Business heard a familiar refrain from a veteran corporate partner about how the team he leads is doing very well but has had its reputation – and that of the firm as a whole – dragged down by the sniping of ex-partners. Several weeks previously at a dinner, another major firm had run through its strategy and performance, making a great play of the claim that, though the firm had clearly suffered a few reverses since the banking crisis, it was performing ahead of peers.
Continue reading “The bottom line is, well, the bottom line – numbers always settle the score”
Following its landmark combination with Dentons to create a 7,500-lawyer legal giant, legacy Dacheng is restructuring its practice to reduce the number of profit pools from 15 to five.
Continue reading “Dentons shakes up profit-sharing arrangement in China”
Following its landmark combination with Dentons to create a 7,500-lawyer legal giant, legacy Dacheng is restructuring its practice to reduce the number of profit pools from 15 to five.
With Dentons striving to integrate what is now the world’s largest law firm by employee headcount, the China arm of the firm, headed by senior partner Jinquan Xiao, has carried out a reorganisation to create increased profit-sharing between the firm’s 44 Chinese offices.
Continue reading “Reform underway as Dentons shakes up profit-sharing arrangement in China”
Ince & Co is moving away from its traditional lockstep model and introducing a bonus pool above the top of its equity to reward its highest billers.
Continue reading “A new model: Ince & Co brings in bonus pool at top of equity”
Firm increases bonus pool and launches three-year lockstep for new partners
DLA Piper International partners have approved an overhaul of its pay structure, introducing a points-based remuneration system and a larger bonus pot as it targets greater profitability, while bringing in a separate lockstep for new partners while they grow their practices.
Continue reading “DLA Piper partnership votes to overhaul remuneration system”
DLA Piper International partners have approved an overhaul of its pay structure, introducing a points-based remuneration system and a larger bonus pot as it targets greater profitability, while bringing in a separate lockstep for new partners while they grow their practices.
