FFW to delay quarterly payout to partners
Field Fisher Waterhouse has announced that partners will have to wait to receive the latest quarterly payout. The firm has opted for a ‘conservative’ approach to its finances by withholding the final installment for the year.
Managing partner Michael Chissick said: “I can confirm that the March special drawings to partners has been delayed. We’ve already paid out three of the scheduled special drawings this year, however we’ve chosen to take a more prudent approach in relation to the final special drawing.”
Chissick pointed out that the firm is investing in growth, with plans to move to new London headquarters, engage in an extensive lateral hire programme and expand the firm’s reach internationally.
Chissick added: “Activities across the firm remain high and we’re not overly reliant on external sources of finance. Due to our conservative nature to cash flow and debt we’ve chosen to hold the special payment. We’ll continue to assess our financial position over the coming months and pay the March drawing when we feel the time is right.”