The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
An exhaustive analysis of the UK market including every firm in the top 200 ranked, analysed and benchmarked, UK chambers ranked by turnover, revenue per barrister and which international firms are most active in the UK.
Hammonds' management is considering a second lock-in of partners when the current one expires at the end of June.
A paper has been presented to the partnership board, but no conclusions have been reached.
Managing partner Peter Crossley said: "We're considering a number of options. It's all about ensuring commitment, and it's a hearts and minds thing. We've got to do what we did with the [first] lock-in and consult with partners. That process is beginning. I wouldn't rule it out."
Hammonds' partnership agreement only requires the consent of 75 per cent of partners to lock in the entire equity partnership, although the 2004 lock-in got consent from all equity partners.
However, Crossley added: "Another lock-in would send a mixed message. It makes it difficult to recruit new blood."