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A&O's Paris corporate chief breaks away to establish boutique

Could be linked to the poor Euro/Sterling exchange rate, stagnant or falling profit shares and 50% tax (plus now in Paris social security payments on your UK firm profit share with no deductibility of those payments against your UK tax bill). Profit share in an English partnership paid in Sterling is no longer anywhere near as valuable to a French or German partner as it was pre-2008 (perhaps worth around half in post tax Euros assuming static profit share). The risk of a start up looks a lot less than it did two or three years ago.

6-Jan-2011

6:40 pm