Addleshaw Goddard votes for all-equity partnership
Addleshaw Goddard's partners have voted to restructure the firm's partnership to an all-equity partnership. The restructure will see partners divided into two groups and will limit the number of partners who will be allowed to leave the firm each year.
Partners will be placed into two categories, known as categories 'A' and 'B', corresponding to fixed share partners and full equity partners. A change to the firm's position on allowing partner departures means that now a combined 7 partners from categories A and B will be allowed to leave each year before triggering a lock-in period. Previously, the period was only triggered when seven equity partners had resigned.