The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... 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.
Nauta Dutilh is to radically overhaul its lockstep system in an attempt to increase significantly the compensation it can offer its top-performing partners.
Last week the partnership voted by a three-quarters majority to introduce a system by which underperforming partners can be docked equity points. The firm is expected to ratify the introduction of a bonus by the start of 2006.
The Slaughter and May best friend has until now operated a strict lockstep system. The equity ladder runs from 40-100 points over 10 years with no provision for penalising underperforming partners or rewarding stars.
Last year, a point at Nauta was worth €4,550 (£3,100). As it nears the end of its current year on 31 December it is anticipating a point to be worth in excess of €5,000 (£3,400), or €450,000 (£383,000).
Brussels head Benoît Strowel said: "We recognise the importance of having very attractive top profits for top people. We're tackling the issue of points reductions for people who are underperforming in a number of ways in a straightforward manner."