Morgan Cole’s management team has been given the go ahead to launch an ambitious restructuring plan after threatening to resign if the partners did not accept their proposals.
The 12-strong management board, headed by the firm’s chairman, John Cole, secured backing for their plan to target up to eight key industries by offering between 10 and 15 practice areas at a crunch partners’ meeting earlier this summer.
One partner who attended the meeting said the board had issued a ‘back us or sack us’ ultimatum.
