Ashurst demoted 17 partners down the lockstep last year

An internal document from Ashurst has revealed the list of partners’ equity points over the last two years, showing that multiple partners were demoted down the lockstep. Seventeen partners lost equity points in the last financial year, including six in the real estate practice, three partners in the energy, trade and infrastructure group, two in tax and two in finance. The demotions were made under a system introduced by the firm four years ago, which replaced the pure lockstep model with a ‘managed lockstep’ model that allows partners to be moved up or down. Meanwhile, 19 partners were moved to the top 65-point plateau in the last financial year, with corporate partner and recently appointed head of the global practice Stephen Lloyd moving from 50 points to 65, skipping the 57-point rung.

Ashurst demoted 17 partners down the lockstep last year thelawyer.com Mon, Aug 8, 2011