Field Fisher says sayonara to salaried partners

Anything DLA Piper or Olswang can do, Field Fisher Waterhouse (FFW) can do at least as well.

That’s the gist of the London firm’s streamlining of its equity structure. Field Fisher has now ditched its former structure of three classes of partner – full equity, fixed share and salaried – in favour of a distinctly zeitgeisty two.

Earlier this year DLA Piper moved to an all-equity structure outside the US, while Olswang made a similar move last year by removing the distinction between its two classes of partner.

As we report today, the move has given FFW a broader capital base, with investment in the firm coming from a larger number of partners. Handy with a merger possibly just around the corner with Osborne Clarke.

That deal would create a new top 20 outfit with a combined turnover of roughly £200m. Plus, thanks to FFW’s new partnership structure, a heck of a lot more cash sloshing around.

Handy.

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