Partner demotions and exits; two associates face redundancy

CMS Cameron McKenna is set to see at least four partner departures as a result of a restructuring which has also seen a small number of partners moved down the firm's equity ladder.

The departures come as a result of an internal partner review that began at the end of last year and closed in January.

At least four partners have been asked to leave, with several additional partners agreeing to take a smaller share of the equity. The departures affect departments including infrastructure and project finance as well as corporate, with compensation understood to be around the equivalent of one year's remuneration.

The firm declined to make a comment on the review, which comes as Camerons bids to increase average profits per equity partner at the firm, which stood at £452,000 for the 2009-10 financial year.

Separately, Camerons has launched a consultation process, with two London real estate associate roles up for redundancy.

In common with many City law firms, Camerons made a number of job cuts in 2009 in response to the recession. A total of 73 London staff took redundancy during the process, including 26 fee earners.

Last month it emerged that Camerons' plans to outsource virtually its entire back-office function to Integreon could result in more than half of the firm's 200-strong London support staff either relocating or being made redundant. Camerons estimates that the outsourcing deal will save the firm around £59m over 10 years on the predicted costs of its business support function.