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Increased bonuses at Akin Gump Strauss Hauer & Feld are creating tensions between the firm’s Texas headquarters and the rest of its network.
The firm’s new five-year plan, which puts New York at the centre of its international strategy, has seen partners okay a one-off bonus hike for higher-performing partners, some of whom are based in New York.
A source close to the firm said: “There’s a lot of tension between Texas and New York because they feel the centre of the firm is shifting to New York.”
A partner at the firm acknowledged the tension, but added: “Change is never easy and there will always be differences in opinion.
“We have a new five-year plan that is focused on advancing on a national and international level. New York’s been very successful for us and we’re continuing to grow across the firm.”