Linklaters’ partners voted in favour of changes to the firm’s lockstep at a conference held in London yesterday (3 November). The changes, engineered by Mr Moore, are designed to offer greater flexibility in moving partners on the ladder. The firm’s current lockstep runs from 10-25 points with country-variable ‘discounts’ used in certain markets. The proposal approved yesterday will double the lockstep to a range of 20-50 points, and will introduce five-year reviews for partners on the highest equity rung in order to make it easier to move partners down. Some of the more controversial changes originally floated by Mr Moore – including the introduction of ‘superpoints’ and extra bonuses for high performers – were ultimately dropped from the final proposal.
Sources; Legal Business; Legal Week
Email your news and story ideas to: [email protected]
