Mr Kalis said: 'These are not existential moments.' Instead he pointed to the firm's policy of promoting a large number of associates to non-equity partner status. On top of that, the performance evaluation system can lead to a high turnover rate. 

Bond with associates

The 'overwhelming majority' of the 90 departing partners were, he said, non-equity partners who received performance evaluations in late 2014 or early 2015. He added: 'We have a bond with our best performing associates that they are going to get promoted. The performance evaluation of income partners can be viewed as part of that bond we have with associates.' Source: Bloomberg Business of Law