The changes will take the top of Ashurst’s equity ladder from 65 to 75 points, equivalent to an increase of around £150,000, while the bottom of the ladder will remain at 25 points. A new bonus pool will also be introduced to reward standout performers among full equity and fixed share partners each year. ‘This is an evolution of our system which gives us more flexibility to reward high performance,’ said an Ashurst spokesperson, adding that the firm had received ‘strong support and engagement from partners’ throughout its review process.
Keeping talent
The overhaul, voted in by partners on Monday, is part of Ashurst’s strategy to retain talent while driving up performance and collaboration at the firm following a string of high-profile partner exits. Restructuring partner Diane Roberts recently departed Ashurst for Reed Smith, while Latham & Watkins picked up former Ashurst financial regulation head Rob Moulton and restructuring partner Simon Baskerville.
Sources: Legal Week; Legal Business
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