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.
February 13, 2014 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Firm steps up integration as it looks to unify pay for legacy members
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.
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