Ashurst remuneration suffers as partners depart
Ashurst’s management suffered a significant pay cut in 2016/17, taking home 18% less than the year before.
The London firm’s turnover, on the other had, increased 12% from £505m to £541m. This boost shows signs of life after two consecutive years of falling turnover after the firm’s 2013 merger with Australian firm Blake Dawson.
The year was full of departures for Ashurst, starting in June when a five-lawyer team from its Paris branch led by litigation partner Jean-Pierre Farges jumped ship for Gibson Dunn & Crutcher. A month later a five-partner team left Ashurst’s New York branch for Chapman and Cutler, a US finance firm.
Not long after, in November, corporate partners Dominic Ross and James Wood departed, Ross to White & Case and Wood to Sidley Austin. In the same month, disputes veteran Ben Giaretta left for the commercial arbitration practice at Mishcon de Reya.