The Eleven departing Denton Wilde Sapte (DWS) media and IP partners have been cleared to vote in the forthcoming management elections after the firm went to counsel to clarify its position.
DWS sought clarification as to whether the team, which quit for DLA in October, was able to vote after the partners had indicated their intention to participate in the election.
Counsel’s opinion will be a boon to head of competition Jonathan Tatten, as the group is expected to throw its weight behind his candidacy. Tatten has already emerged as an early frontrunner for the chief executive post.
Last month, the four contenders to replace Virginia Glastonbury – Tatten, head of financial institutions Howard Morris, regulatory head Robert Finney and management board member Martin Kitchen – issued their manifestos to the partnership (see page 2 for a full analysis).
It has also emerged that DWS has instigated another wave of support staff redundancies following disappointing half-year results. These are understood to show that revenue is 11 per cent behind budget after six months and around 3 per cent down on the same period last year.
DWS sources said that if the trend was not corrected by the year-end, it could translate to average profit falling below the psychologically critical £300,000 mark.