Wake Up Call: Linklaters Joins Firms Ditching Strict Lockstep Pay

December 16, 2021, 1:47 PM UTC

In today’s column, Clifford Chance elected a new global managing partner; Sullivan & Cromwell barred its lawyers from trading bitcoin; Gibson Dunn added four private equity and capital markets partners London.

  • Leading off, “magic circle” firm Linklaters said it is changing its global lockstep pay system so that it can pay high-performing partners more. London-based Linklaters is the latest Big Law firm to say it is changing its longstanding lockstep system to avoid losing partners in an intense market for talent after Cravath Swaine & Moore took the step last week. (Financial Times)
  • Another London elite firm, Clifford ...

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