Greenberg Traurig won’t accept pay changes in merger talks
Greenberg Traurig, in the middle of merger talks with Berwin Leighton Paisner, has made clear that its commitment to a ‘black-box’ style remuneration system that rewards partners based on merit is steadfast. The firm will not accept an arrangement where the long term outcome is a move away from its pay system, which does not honor seniority or even share compensation information internally with other partners.
Under no circumstances would the firm agree to a verein-style arrangement to integrate its finances.
While the financial factor presents a significant hurdle to overcome in the merger negotiations, the two firms seemingly continue to pursue an arrangement that would merge the two firms, as another meeting took place recently between the two firms in Hong Kong, where Greenberg Traurig executive chairman Richard Rosenbaum and BLP senior partner Lisa Mayhew reportedly met.