DLA sidelines shift to all-equity partnership
DLA Piper has put plans to overhaul its partnership structure by moving to an all-equity partnership on the back burner. The firm had put together a working group last year to look at moving to a single-tier partnership and had planned to make any changes by May 2011. However, management has opted to delay any move in this direction.
October 27, 2010 at 07:15 PM
2 minute read
DLA Piper has put plans to overhaul its partnership structure by moving to an all-equity partnership on the back burner.
The firm had put together a working group last year to look at moving to a single-tier partnership and had planned to make any changes by May 2011. However, management has opted to delay any move in this direction.
Partners within DLA Piper, which currently has a model comprising equity partners and two bands of fixed-share partners, said the change reflects higher-than-anticipated activity levels during the downturn.
The firm is now focusing its attention on its next three-year strategy review, which is set to be roadshowed to the partnership early next year.
The firm will consider a number of issues, including how it should be spread geographically, which services it should offer and which clients it should act for. The firm said it would not rule out re-examining the shape of its partnership during the next three years.
The decision does not affect an ongoing review by professional services firm Pricewaterhouse-Coopers (PwC) looking at aligning partner careers and remuneration, with PwC's suggestions set to be heard during the roadshow.
DLA joint chief executive Nigel Knowles (pictured) said: "We have no plans to move to one category of partnership at the moment."
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