DLA Piper delays consultation on partnership restructuring
DLA Piper has pushed back plans to consult its partners over broad-ranging proposals to overhaul its partnership and remuneration structure. The firm has opted to delay sounding out its partners on proposals put forward by consultants at PricewaterhouseCoopers (PwC) in order to make a number of changes to the suggested framework.
June 01, 2010 at 12:39 AM
2 minute read
DLA Piper has pushed back plans to consult its partners over broad-ranging proposals to overhaul its partnership and remuneration structure.
The firm has opted to delay sounding out its partners on proposals put forward by consultants at PricewaterhouseCoopers (PwC) in order to make a number of changes to the suggested framework.
PwC, engaged by DLA Piper in November, delivered its suggestions to the firm's board in January outlining a number of changes to partner roles, performance objectives and remuneration structures. However, the timetable for deployment suggested by the consultancy firm, which recommended a consultation period from March onwards, was seen by DLA Piper's board as too aggressive.
Instead, DLA Piper is expected to start roadshowing the proposals to partners across its UK and international business after the summer.
Changes were due to come into effect from 1 January 2011; however, it is thought this could be pushed back to 1 May 2011 following an overhaul of the financial management of its UK and international offices, which last month moved to a separate year end from the US.
From 1 May, DLA Piper's UK, Asia, Middle East and continental Europe offices will work to a separate financial year end in April, while the firm's US offices remain on the calendar year.
The proposed shake-up is intended to create more transparency among partners and comes in conjunction with research carried out by the firm's management.
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