While Herbert Smith Freehills became embroiled in a very public court battle over a team defection to White & Case in Australia earlier this year, Simmons & Simmons has quietly amended its partnership deed following a group exit to Allen & Overy (A&O) in 2016.
‘Giving the partnership back’: Linklaters to ditch individual partner metrics to target team performance
In a highly symbolic break from its 2000s incarnation, Linklaters is to phase out individual partner metrics and annual assessments to focus on broader measures of team and firm performance. Continue reading “‘Giving the partnership back’: Linklaters to ditch individual partner metrics to target team performance”
Management at Addleshaw Goddard is planning to ultimately phase out its third partnership class, which has been created to accommodate the firm’s merger with Scottish practice HBJ Gateley. Continue reading “Addleshaws plans to disband third partnership tier as Scottish merger beds down”
‘The only resort’: KWM administrators’ interim report says partner exits hastened demise of legacy SJ Berwin
Joint King & Wood Mallesons (KWM) EUME administrators Andrew Hosking and Sean Bucknall of Quantuma have said partner exits accelerated the demise of the practice in their first interim report to creditors. Continue reading “‘The only resort’: KWM administrators’ interim report says partner exits hastened demise of legacy SJ Berwin”
KWM latest: European partnership buys more time before administration as Osborne Clarke takes top biller Couter
King & Wood Mallesons‘ (KWM) European partnership has filed a new intention of notice to appoint administrators as the firm continues to leak partners. The previous notice has now expired, having been valid for ten working days since 22 December when it was filed. Continue reading “KWM latest: European partnership buys more time before administration as Osborne Clarke takes top biller Couter”
After a drawn-out process, Addleshaw Goddard has voted through several changes to its partnership deed, including further restrictions on partner exits and changes to management terms.
In a ruling relieving hundreds of ex-Dewey partners of millions of dollars in liability, a New York state judge has ruled against a former landlord of Dewey & LeBoeuf, which took action over unpaid rent.
Comment: We must run just to stay in place – Macfarlanes’ head asks what it takes to be a partner in 2016
I confess the analogy is not perfect, but reflecting on the bizarre and often contradictory pressures on partners in law firms today brings to mind the world of Alice in Wonderland. Today, many question the appropriateness of the partnership model itself. They certainly question the strange, often opaque feudal master/servant process by which the aspiring lawyer serves their apprenticeship.
Clifford Chance‘s partnership has elected City energy partner Jeremy Connick and corporate partner Neeraj Budhwani, who is based in Hong Kong, to its partnership council.
US firm Kirkland & Ellis has doubled the notice period for all of its global equity partners from 60 days to 120, while introducing a 30-day notice period for all non-equity partners.