Calling for cash

It is often said that the dawning of a new financial year is like starting back at the bottom of a mountain. The previous year’s summit has been reached, the accounts have been filed and any glory (or disappointment) is in the past. Now it’s back to square one.

Of course there is one way that firms can inject a little rocket fuel into their annual ascent – the trusty cash call.

Hill Dickinson has just become the latest firm to hit partners with a call for £2.8m after a year of heavy investment.

The firm’s managing partner Peter Jackson admitted that partners never jump for joy at the prospect of handing over more readies, but the £1,000 per point call has apparently been taken on the chin.

It’s not just Hill Dickinson though. Penurious partners are also to be found at Herbies, Ashurst and SJ Berwin with all three Asia-Pacific bound firms having turned to their senior lawyers for an extra cash injection over the past year.

At least they’ve got some exotic new office locations to retreat to if the holiday budget’s looking a bit tight.

Also on TheLawyer.com:

  • SJ Berwin consultant Victoria Younghusband has joined Speechly Bircham as a partner in the firm’s financial services and funds team
  • Taylor Wessing is “disappointed” to announce it will retain just 70 per cent of its trainees in newly-qualified positions
  • And K&L Gates has hired two partners in Singapore in a boost for its energy and corporate practices