Ashurst Morris Crisp has vowed to stick to lockstep in the wake of the collapse of talks with Fried Frank Harris Shriver & Jacobson as it posts solid year-end figures.
Revenues rose 6.5 per cent from last year’s £185m to £197m, with average profits per equity partner down slightly to £590,000 from £600,000 – a drop of 2 per cent. Plateau partners will see their earnings drop from £840,000 to £800,000.
There had been speculation that Ashursts would revamp its profit share-out after mooting a ‘super-pointer’ system during its merger negotiations.
However, Ashursts senior partner Geoffrey Green told The Lawyer: “We’re not changing lockstep. In fact, we’re enshrining lockstep after Fried Frank – we’re even more keen on it.”