Herbert Smith Freehills partners are expecting to receive proposals on the planned move to a single modified lockstep after the summer, as the firm gears up to introduce a combined partner remuneration structure from the start of the next financial year. Management are currently working out proposals to take to partners, with some legacy Herbert Smith partners saying they expect a vote to take place in October this year. The overhaul is expected to see the legacy UK arm move away from its rigid eight-year lockstep, shifting closer to Australian merger partner Freehills. The pair entered into a full financial union in October 2012, but are currently paying partners according to two different pay structures, with legacy Freehills' heavily linked to individual performance.
May 23, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Herbert Smith Freehills partners are expecting to receive proposals on the planned move to a single modified lockstep after the summer, as the firm gears up to introduce a combined partner remuneration structure from the start of the next financial year.
Management are currently working out proposals to take to partners, with some legacy Herbert Smith partners saying they expect a vote to take place in October this year.
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