DLA Piper is set to ask US income partners to contribute capital to the firm for the first time from next year and to reduce monthly payments to some top US equity partners as the firm seeks to reduce its reliance on bank credit and simplify its compensation structure, reports The National Law Journal.
The international firm’s US arm will ask its 275 salaried partners – who now receive an income rather than hold an equity stake at the firm – to contribute, with the amount depending on seniority. The contribution will give them a limited stake in the firm’s profits and losses that is less than that of current equity partners, said DLA joint chief executive officer Frank Burch (pictured left, centre).
