Ashurst amends lockstep

August 3, 2016 In an effort to retain top performers in light of recent lawyer departures and poor financial performance, 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.

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