Nauta rejects lockstep overhaul

Leading Dutch firm Nauta Dutilh has backed away from plans to introduce a bonus for its equity partners.

The firm’s partners voted against the proposals at its annual partnership conference last week.

Managing partner Marc Blom said the question had been whether lockstep or a system with a merit element was best for the firm. “We decided that sticking with locktsep was best,” he said.

Late last year Nauta radically overhauled its lockstep by introducing a sytem under which underperforming partners will be docked equity points. The move was an attempt to increase the compensation Nauta could offer its top-performing partners.

The introduction of a bonus has been on Nauta’s agenda since last year and was a key issue at last week’s conference. It had been widely expected the firm would introduce the bonus as an additional measure to reward its best performers as attract the top legal talent.

Blom refused to reveal the number of votes in favour of introducing a bonus element to the firm’s remuneration system.