Mega firm wins some, loses many
A major law firm has seen 10 per cent of its partnership leave this year.
MEGA law firm Ashurst has seen 22 partners leave its limited liability partnership since January. The loss equates to about 10 per cent of its partnership.
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The law firm had 235 partners at the beginning of May, reports Legal Week, the US legal site, who have left either voluntarily or at the request of management. One partner also stepped down to become counsel.
The loss is a sharp drop from last year's rates, when only partners left the firm. And the number is higher than predicted in January, who it revealed that 10 partners would leave the firm's equity partnership in response to the economic downturn, Legal Week reports.
Ashurst partners have been popping up all over the place, including rival firms Barlow Lyde & Gilbert, Field Fisher Waterhouse, Milbank Tweed Hadley & McCloy, Pinsent Masons and Simmons & Simmons.
The firm has continued to recruit high-profile laterals, including construction partner Anne Minogue from Linklaters and high-profile restructuring partner Dan Hamilton from White & Case.