Herbert Smith’s Spanish ally Cuatrecasas has launched a radical shake-up of its internal structure that will phase out salaried partners and introduce Anglo Saxon-style ‘up or out’ assessment for the top Madrid-based firm’s assistants.

The shake-up will see a dramatic cut in the length of time before assistants are considered for partnership – but also introduce a tough annual assessment regime to manage out assistants who are not regarded as partner material at the 600-lawyer national giant.