Younger equity partners at King & Wood Mallesons in Australia could miss out on retirement payments as the firm’s decision to phase out its early retirement scheme (ERS) starts to take effect.
The decision to abandon Mallesons’ ERS came at the end of 2012, less than a year after it merged with Chinese outfit King & Wood. It was part of a package of measures introduced to boost the overall profits of the Australian partnership along with its move from a rigid lockstep to a modified remuneration system.
