'You have to be ruthless about who makes equity partner' – Shearman gambles on non-equity partners
Shearman's partnership shake-up is likely to boost profits – but what are the risks?
As it struggles to maintain its standing among New York’s elite firms, Shearman & Sterling is trying a new tactic: expanding its non-equity partner ranks. The move is likely to increase the firm’s profitability, at least in the short term. But it also carries risks.
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