Akin Gump to overhaul partnership structure
Akin Gump is set to change its partnership structure, shifting from a two-tiered system with both salaried and equity partners to an all-equity partnership, where every partner pays in and gets an equity stake in the firm.
“We thought it made sense to have everybody have skin in the game,” said Akin Gump chair Kim Koopersmith. “It was overwhelmingly viewed positively by our income partners. They like the idea of having a stake in the firm, and the ideas of advancement and success feel more attainable in a consistent partnership.”
The changes will take effect in January 2014.