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.”
Telly monster
The Communications Act intends to open the market for non-EU investors, but just how welcome will they be? The UK’s Communications Act 2003 passed into law on 17 July. More than four years of consultations, green papers, white papers and draft legislation has resulted in one of the most extensive pieces of legislative consultation ever […]