Partners leave because of 'inability' to find new clients

The most commonly-cited reason why law firms part company with partners is their 'inability to develop and cultivate new clients or originations', according to a new survey.

Inability to find a client drives partners out of firms Peshkova

The ALM Legal Intelligence report, 'Up or Out: When Partners Have to Go', found that the second most common reason given by firms was 'no real commitment to the firm'. Many departing partners have been with the firm for a relatively short period of time. Some 55 per cent  go in six years or under, while 29 per cent leave in three years or less. Other findings include the fact that 77 per cent of exiting partners say that they were only told of their alleged performance problems when they were asked to go. As regards finding a new post, 62 per cent found their next position through their own personal network and 31 per cent used a headhunter. Source GlobeNewsWire

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