Baker & McKenzie already earns 55% of its income from clients which use five or more offices - and senior management believe that this level can be increased. One way of achieving this is to open more offices. Another way is to use regional, rather than national, profit allocations for partners. The firm has now decided that national profit shares in EMEA and Asia are to be replaced by regional profit pools. Most partners in the firm will receive some 60 per cent of their remuneration from the global allocation and the remainder will come from their regions. North America already uses a regional profit share. Latin America will be the only area left which uses a national profit share. Source: Legal Business
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