Freshfields Bruckhaus Deringer’s impressive bid to quadruple partner profits by phasing out its entire partnership seems to have made the desired ripples on the other side of the pond. Indeed, Wachtell Lipton Rosen & Katz aside, UK firms are now snapping at the heels of white shoe rivals in terms of profitability.
Incidentally, The Diary is reliably informed by US bosses that profit-boosting measures should be called not ‘downsizing’ but ‘rightsizing’ – just as Bernard Matthews annually ‘rightsizes’ his turkey population each Christmas, presumably.
