Ashurst amends lockstep
Ashurst has announced key changes to its compensation structure. These changes, which were voted in by the firm’s partners on August 1, include performance-based incentives for both equity and non-equity partners. The firm is slated to raise the top of the equity ladder by 10 points to a new cap of 75 points, implement a merit-based bonus pool, and award equity shares to salaried partners.
These changes follow a number of partner exits over the past few weeks, as well as declining financial performance since the firm’s 2013 merger with Australia’s Blake Dawson. Ashurst’s announcement is the latest in a series of remuneration overhauls by Global 100 firms during the past few years.