Howard Kennedy takes shears to partnership

Howard Kennedy has taken the shears to its partnership, removing six partners along with one senior associate from its real estate team. The move reduces the real estate partnership by 20% and the overall partnership by 10%. Since large scale redundancies in 2008 the firm has struggled to get back on track, appointing Mark Dembovsky as the new chief exec and focussing on AIM listings and wealthy private clients. Real estate work, it seems, is not sufficiently profitable to sustain 26 partners under this new strategy, and so six partners have been made redundant under a restructuring program.

Howard Kennedy takes shears to partnership rollonfriday.com Fri, Feb 17, 2012