The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Dewey & LeBoeuf has overhauled its compensation system, cutting pay for more than 60 partners across the firm.
Up to 66 partners at the US firm have had their compensation reduced, in a number of cases by around 80 per cent. The cuts have left certain Dewey partners taking home around $10,000 in monthly draws, or $120,000 a year.
In an internal memo sent to all Dewey partners today, chairman Steve Davis defended the amended compensation, claiming that the merit-based remuneration was not based solely on revenue generation but incorporated a range of factors to measure contribution to the firm.
The move is thought to be a part of Dewey’s firm-wide strategy to improve performance within its partnership ranks.
Last year The Lawyer reported that Dewey had put monthly partner distributions on hold while the firm attempted to build up a substantial cash cushion to protect it against the economic downturn (3 Nov 2009).
Dewey has also embarked on a number of cost reduction measures during the downturn including five office closures across the US and a redundancy consultation in the UK.