Freshfields maintains the pain

The £55m restructuring undertaken by Freshfields Bruckhaus Deringer that culled 100 partners from the equity may be over, but its effects are not.

Although star corporate partners Ralph Wollburg and Achim Kirchfeld in the Düsseldorf office may have left the magic circle firm at the top of equity, negotiating an off-lockstep top-of-equity deal at new home Linklaters, other recent departures may not have been so lucky.

There may be a few more partner exits, particularly in Europe, coming in the next couple of months. The partners in question were given a few months to find new firms after the news of de-equitisation was broken to them, said a source close to the firm.

The idea that amputation is less painful if done quickly makes some sense. But what exactly do you make of an amputation that hasn’t stopped bleeding for five months, doctor?Get the latest news and an irreverent commentary delivered to your desktop every day by subscribing to Lawyer News Daily.

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