Edwards Wildman currently finds itself in an unusual situation. According to sources, the US firm’s London office has done so magnificently well that several of its corporate partners have had enough; they’ve had a great year, and they want the cash to show for it. The problem is, they can’t get it.
The US firm operates a single remuneration structure. Insiders say a dip in global revenue has pulled the City purse strings down. And so the five corporate partners in question are understood to have been in talks with a number of firms in recent months, one thought to include the London office of Squire Patton Boggs (which has put America at the heart of its strategy, according to European chief Peter Crossley).
If they all resigned from the firm it would leave Edwards Wildman’s 25-partner London office – which also recently lost City veteran Francis Mackie to Weightmans – with just two corporate partners. Ouch.
That said, the firm is not going to change its pay structure as a result of this rumble. It will be interesting to see if London gets these five to stay.
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