Staff invested in the IPO  in May. Nick Smith, acquisition director of Gateley, says that the ability to issue shares to young lawyers is a way of motivating them from the start of their career, rather than their having to wait until they became equity partners. He said: 'This was about giving people that understanding of why they’re sitting at their desk at 11 o’clock at night. It’s: ‘Well I’ve got a client and this is going to make them happy and drive the share price’ - not: ‘I’m going to line the pockets of the senior partners’.'

Recruitment of rainmakers

The 350-lawyer business also has access to external funds if it wants to recruit a rainmaker in the market and needs to make a strong offer to that person. Source: Bloomberg Business of Law