Remaking News of the Week: Law firm partnerships are losing their lustre

The inimitable John Gapper penned Law firm partnerships are losing their lustre with the sub-line The transfer market in talent is undermining traditional legal practices in the Financial Times back in May this year.

Citing high profiles lateral moves and raids in London, John points to the crisis that building a BigLaw firm by lateralling is causing. This snippet says it all: “The transfer market for lawyers has become so heated that Freshfields Bruckhaus Deringer introduced reforms this month to retain top partners by paying them up to six times what it gives to lesser lights“. 

Read the full story here – and be prepared to be disturbed. Quo vadis?

More on this in Ed Reeser’s classic on Dialogue: Growth is not a solution to your firm’s problems.

George