Akerman Senterfitt has reported a dramatic 30 percent drop in its non-equity shareholders, capping off a difficult year marked by rapid turnover, the embarrassing collapse of a merger and the revelation that the firm missed its budget. Non-equity shareholders also suffered a 15 percent drop in pay. Firm chairman Andrew Smulian attributed most of the drop in non-equity partners to promotions to equity partnership. But Akerman also reported drop of more than 5 percent in its equity shareholder head count.
February 11, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Akerman Senterfitt has reported a dramatic 30 percent drop in its non-equity shareholders, capping off a difficult year marked by rapid turnover, the embarrassing collapse of a merger and the revelation that it missed its budget.
Non-equity shareholders also suffered a 15 percent drop in pay, according to financial information for the 2008 fiscal year released by Akerman for the annual ranking of top law firms by The American Lawyer magazine, an affiliate of the Daily Business Review.
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