12 partners at top of Ashurst ladder after review
Ashurst partners have learned their new positions in the firm's lockstep, with 12 partners now sitting in the firm's top band. Partners discovered their new positions on the 25-65 point scale last month, following an annual review process that has seen two additional partners' join the top rung of Ashurst's lockstep.
May 07, 2009 at 01:55 AM
2 minute read
Ashurst partners have learned their new positions in the firm's lockstep, with 12 partners now sitting in the firm's top band.
Partners discovered their new positions on the 25-65 point scale last month, following an annual review process that has seen two additional partners' join the top rung of Ashurst's lockstep.
The reshuffle is understood to have seen one partner in the firm's corporate group and another in the energy, transport and infrastructure team join the rank of the firm's top earners, after a review which judged partners performance over the last three years.
Ashurst overhauled its lockstep last year, with partners voting to cut the lockstep down from 10 years to nine with gateways at three and six years, as well as formalising measures to speed up the promotion of star junior partners.
The overhaul resulted in only 10 partners making it to the top of the ladder following scrutiny of the entire partnership. Around 50 partners were most heavily affected – thought to be those previously at the top or bottom.
Finance partners make up the bulk of Ashurst's top rung, with five partners from the practice making the grade last year – including four in London – with corporate accounting for two top-scoring partners. The remaining partners making the top in last year's review came from the competition and energy and infrastructure groups.
Last year the top earners at Ashurst took home £1.46m, while the bottom of the lockstep stood at £560,000. Average profits per equity partner stood at £1.04m for 2007-08 after the firm saw profits grow by 8.8%.
Ashurst declined to comment on the latest review process.
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