KWM to end top-up payments for Hong Kong partners
King & Wood Mallesons (KWM) is preparing to end top-up payments for partners in its Hong Kong office as it looks to unify remuneration for members of its legacy firms. According to merger terms agreed as part of the March 2012 China-Australia tie-up, equity partners in the Hong Kong verein have their individual profit shares boosted by their former partnerships. This means legacy partners in Hong Kong do not take home less than colleagues in Australia or mainland China. The top-ups are in line with an agreement struck by Mallesons Stephen Jacques partners in Hong Kong guaranteeing that there would be no disparity in profits between them and peers in Australia for five years, with a similar deal understood to have been struck by legacy King & Wood partners.
Firm steps up integration as it looks to unify pay for legacy members
This premium content is reserved for
Legal Week Subscribers.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651