Matthew Layton was elected global managing partner on a manifesto of significant change that included a proposed review of its salaried partner band. The review sparked a debate about bringing all salaried partners into the equity, in order to create a more collegiate atmosphere at the firm. Roughly 30 per cent of Clifford Chance partners are currently non-equity.
‘Still reviewing our position’
Mr Layton told The Lawyer: ‘We’re still reviewing our position as to whether a full equity structure is the right objective, or whether some other modifications to the existing non-equity structure would be a better option, but we’re looking at it.’
Equity a hot topic for Magic Circle
Changes to remuneration and equity are a hot topic among the Magic Circle at the moment, with Clifford Chance ostensibly leading the way by voting for an extension to its lockstep ladder in order to attract high-profile lateral hires. Source: The Lawyer
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