LG is set to overhaul its partnership deed for the first time in over a decade, including making a number of changes to partner voting rights.

The UK top 50 firm has consulted specialist partnership counsel on the proposed changes, which are set be unveiled to the partnership.

The move comes after LG management last year failed in an attempt to remove a partner from the firm after the proposed exit did not win enough support from its partnership.

Senior partner Penny Francis (pictured), managing partner Hugh Maule and the firm's seven-strong equity partnership committee called a meeting in September to vote on forcing a partner from the firm but failed to receive the 80% support required from partners under the terms of its deed. The partner remained with the firm.

LG's newly-revised deed will take into account material changes at the firm, including its conversion to a limited liability partnership, and it will see the phase-out of its salaried partner band, moving to a two-tier partnership structure comprising equity and fixed-share partners. The bulk of the firm's former salaried partner rank have now moved into the fixed-share.

The firm said the changes to its partnership, which were likely to cut salary costs in the short term, would also help to generate long-term national insurance and tax savings.

LG managing partner Hugh Maule commented: "The firm has instructed a barrister to advise on potential changes to the partnership deed. We periodically look at our constitutional documents as a matter of course in order to review them in line with changes to the law, practice and common usage."