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Bryan Cave Lifts Remaining Pandemic-Related Pay Cuts

Oct. 7, 2020, 6:13 PM

Bryan Cave Leighton Paisner has rolled back remaining pay cuts implemented at the beginning of the coronavirus pandemic, citing its financial success so far this year.

In April, the firm imposed 15% pay cuts for employees earning more than $40,000. The cuts were halved in August and were originally set to remain in place until the end of 2020.

The firm outperformed projections set during the height of the pandemic, according to co-chair Lisa Mayhew, prompting it to restore full salaries three months early.

“It feels really good to be in a position where we can restore everyone’s salaries and let them know that there’s going to be normal [bonus] pools,” Mayhew said.

The firm also announced several structural changes as part of the implementation of a new strategic plan developed following the 2018 transatlantic merger between Bryan Cave and Berwin Leighton Paisner. The goal is to “make the new firm stronger than the two constituent parts,” according to Mayhew.

Denver-based corporate partner Sean Odendahl will become Bryan Cave’s first-ever chief transformation officer, responsible for the firm’s reorganization, growth, and execution of its long-term strategic plan.

The firm combined its corporate and finance practices and created three primary global business departments: real estate; corporate and finance transactions; and litigation and investigations. These three areas are where the firm sees the most significant growth opportunities, according to Mayhew and co-chair Steve Baumer.

The real estate department will be led by Chris de Pury, the corporate and finance transactions department will be led by Stephanie Hosler, and the litigation and investigations practice will be led by Lee Marshall.

To contact the reporter on this story: Stephanie Russell-Kraft in New York at srussellkraft@gmail.com

To contact the editors responsible for this story: Rebekah Mintzer at rmintzer@bloomberglaw.com; Chris Opfer at copfer@bloomberglaw.com

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