Ashursts wavers on lockstep

Ashurst Morris Crisp has changed its position yet again on the issue of remuneration in the run-up to the partnership vote on a merger with Fried Frank Harris Shriver & Jacobson.

The Lawyer understands that just two Ashursts partners from an original shortlist of five will be granted points above the top of lockstep, more commonly known as ‘super-point’ status. The two partners in question are head of M&A and buyouts Charlie Geffen and Thomas Forschbach, a highly-rated Paris-based partner.

Sources have told The Lawyer that the firms are in talks about the issue of awarding points above the top of lockstep, since the intention is to phase out super-points over a five-year period. However, while this process is worked through, enough profits need to be ringfenced to support the allocation of these points.

At present Fried Frank has 10 partners who are awarded points above the top of lockstep.

Ashursts declined to comment.