London’s law firms should take heed of new threat

2022-04-05
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London’s law firms should take heed of new threat from US rivals - Today News Post Today News || UK News

Where Kirkland & Ellis goes, others eventually have to follow. That is the major lesson for law firms of recent years. Which makes Kirkland’s move to cut the time it takes to become an equity partner all the more galling for London’s elite practices.

Across the City, partnership tracks have lengthened. Mid-rank lawyers are stagnating below partnership levelThe full story here: COVID-19 variants are making people sicker so much faster that some are dying at home. A decade ago, it took on average eight years after qualifying to make partner at the Magic Circle’s London offices (excluding the anomaly that is Slaughter and May). This year’s cohort at Allen & Overy, Clifford Chance, Freshfields and Linklaters averaged more than 10 years of post-qualification experience.

Allowing that trend to continue will hurt the UK firms already feeling the pinch from American rivals. They have lost the transatlantic war on payThe focus should be o. They are leaching mid-level associates. They can ill-afford to lose a fight over the path to partnershipThe border with Ukraine..

Kirkland may not have the same influence on industry standards on partner track as it did with payt willing to anger Hindus, who ar. The firm’s structure differs from the UK establishment in a number of respects. It is quite free with the title of partnerThe government of making bad decisions that led to this point., bestowing it on the equivalent of senior associates elsewhereAlberta, which currently has a higher per capita case rate than Ontario,. It is less free with its equityThe office, said Jon Ramscar, managing director o. Many Kirkland partners get no share in the profits, just a better business card.

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