Dewey Ballantine’s London managing partner Fred Gander demonstrated his financial nous repeatedly in 2004, negotiating a bumper property deal and taking a proactive stance on currency protection for his firm’s London lawyers.
Under a radical deal concluded by Gander last year, Dewey Ballantine is enjoying a whopping 31-month rent-free period. Not only does the deal ensure that the US firm will save £3.5m in rent over the next three years, but it also stands to generate up to £500,000 in income from subletting up to 5,000sq ft for the next couple of years.
Gander also took a proactive stance on the sliding US dollar, launching a review on how to protect its non-US-based partners’ pay packets. The review saw the introduction of fixed currency rates for Dewey associates in London, ensuring the US firm can retain its competitive edge in the employment market.