The partnership demographic at U.K. law firms is “a ticking time bomb,” a report on the legal profession warned this fall. “The Paradox of Partner Retirement,” published in September by consultancy Jomati Partners, claims that many U.K. law firms fail to effectively manage the transition between generations of partners or to engage them on retirement issues. “For the majority, their retirement planning remains haphazard,” the report says.
It’s something that Guy Beringer, the former senior partner of U.K. Magic Circle firm Allen & Overy, experienced firsthand when he left the law in 2008. “I was only 52, so I didn’t even want to talk about retiring—I wanted to know what I was going to do with the last third of my career,” Beringer says. “But I’d explain to headhunters that I’d run a global business with a revenue of a billion pounds, and they’d ask me if I wanted to be a general counsel,” he says.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
