Fri, 17 May 2013
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DLA Piper confirms move to all-equity model
I am little puzzled by this announcement and wonder how much it will actually change the reality for the current fixed share partners. To my knowledge, DLA (outside the US) introduced a sliding scale of capital contributions for fixed share partners as long ago as 2007, such that a senior fixed share partner on £200,000 was required to contribute £40,000 in capital. That was a substantial contribution for a non-equity partner and it may be much higher today. I suppose it is no bad thing that such contributions could now translate into a bigger share in the profits and a greater say in how the firm is managed.
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