Norton Rose and Deacons will not share partner profits

Norton Rose and Deacons Australia will integrate practice lines and systems including IT, finance and HR, but operate two separate profit centers when the two firms merge in January next year. In case of a full financial merger, there would be a risk that Deacons could incur a major capital gains tax liability. The planned merger of the two law firms will create a new global law firm with 1800 fee earners, 29 offices and annual turnover of $864 million. Norton Rose's presence in the Asia-Pacific region will increase to almost 700 fee earners.

Norton Rose and Deacons will not share partner profits law.com Fri, Jun 26, 2009