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CMS Cameron McKenna has removed non-UK partners from the partnership as part of a radical change to the firm’s equity structure.
The ;move ;has ;seen overseas partners become salaried ;‘international managers’ in a bid to shrink the firm’s tax bill.
A firm spokesman said the people affected would remain as partners “in all but name”, adding: “It’s so that all international partners who are outside the LLP are treated the same way.”
In the past few months the final remaining members of the LLP based in Camerons’ Central and Eastern European offices have resigned from the partnership to take up the role.
They include four Warsaw partners, two Budapest partners and one partner each in Sofia and Prague.
International managers have the same pay and rights as conventional partners and will still be referred to as partners within the firm.
Camerons finance director Krishna Vishnubhotla argued that it was not an uncommon policy among top firms, adding: “Many other law firms are doing this. It’s sensible tax policy.”
It is understood that the move has tax benefits both for the firm and for the individuals, who faced paying both UK and local rates.
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