Financial penalties encourage Barlows equity partners to stay put after merger

The merger deal between Barlow Lyde & Gilbert and Clyde & Co includes financial penalties for any Barlows equity partners that leave the combined firm any time in the next three years. Under the deal, junior partners would be required to pay roughly £30,000 while senior partners would pay around £60,000 for each year of the lock-in period that they do not serve at the merged firm. Clydes chief executive Peter Hasson commented: “In any merger of this size it is essential that we focus on providing stability for our clients and a sensible basis from which to plan long-term investment in bringing the two firms together.”

Financial penalties encourage Barlows equity partners to stay put after merger legalweek.com Thu, Sep 15, 2011