The legal profession is going through a period of dramatic and profound change, and the forces driving these changes are having far-reaching consequences on the industry. The roles and responsibilities of the equity partner are not immune from these forces, and are evolving and expanding in response. For many this is creating great ambiguity, while others are seizing the opportunity. Continue reading “Comment: The road to equity – a difficult journey, an uncertain destination”
Hogan Lovells bolsters mental health and workplace stress measures in the wake of tragic IP partner suicide
Hogan Lovells has bolstered its policies and procedures around workplace stress and mental health in the wake of the tragic suicide of respected IP partner David Latham earlier this year.
The inquest into Latham’s death, who jumped in front of a tube on 15 February, opened yesterday (12 September) at Westminster Coroner’s Court, when coroner Jean Harkin heard the 58-year-old lawyer was worried about a relatively minor evidence point on a particularly complex case he was working on. Despite constant reassurance from fellow partners and external counsel that his concerns were unjustified, he became ‘inconsolable.’ Continue reading “Hogan Lovells bolsters mental health and workplace stress measures in the wake of tragic IP partner suicide”
Partner retirement policies withstand latest challenge but pressure remains for law firms to cross the tees
Expectations that law firms would come under mounting pressure to avoid compulsory retirement of partners have been once again upset as the final chapter in a much-watched legal battle over age discrimination concluded this week.
The Employment Tribunal (ET) made a final rejection of a claim by solicitor Leslie Seldon against his former law firm Clarkson Wright & Jakes (CWJ) that he suffered age discrimination in being required to retire at the age of 65. Continue reading “Partner retirement policies withstand latest challenge but pressure remains for law firms to cross the tees”
Partnership prospects continue to decline in a gloomy economy, while UK law firms are increasingly promoting abroad or associates hired from other firms. Legal Business investigates whether the odds of making partner make it still worth the contest
When a trainee joins a firm, aspirations are high and the road to success is inviting. The route is mapped out from the start – train at the firm, become an associate, rise up the ranks to the ultimate goal – partnership. Sounds perfect.
James Tsolakis of The Royal Bank of Scotland published his annual report, A perspective on the legal market, in March. In it, he says UK firms have 5% overcapacity in fee-earner resources and has told LB that firms need to address this issue at partner level. The report also says that the success of new partner compensation models that align compensation with performance depends on ‘effective partner appraisal systems’.