Simmons introduces junior equity rank

Simmons & Simmons has announced the introduction of a new tier of fixed-share partners. Under the three-tier partnership structure, salaried partners will be offered the opportunity to become fixed-share partners. They won’t contribute capital, but will share in the liabilities of the equity partnership and gain powers to vote on key decisions such as management elections. New managing partner Jeremy Hoyland explained: “It is cost-neutral but I want to make people feel more engaged, and having a vote is quite an important point.”

Simmons introduces junior equity rank legalweek.com Wed, May 18, 2011