Herbert Smith promos down slightly as 10 get the nod

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  • I'm not surprised to see the number of partnership promotions at Herbies continue to decline given Herbies' lacklustre financial performance when compared to the magic circle firms. Probably more telling though is the fact that over half of Herbies partners' are now non-equity as management continues to try to hide the firm's deteriorating real PEP. These ten "partners" will now have to slog away for another four years before they get a shot at being real partners and sharing in the rewards of their labours.

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  • The problem with Herbert Smith is they have made it nearly impossible to get into the partnership but they do little to nothing to manage the large number of underperforming partners hanging around at the top of the lockstep collecting a paycheck for sitting around the office surfing the web and waiting for the phone to ring. They need someone like Simon Davies to shake the place up a bit.

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