Posted Mar 07, 2012 09:51 pm CST
The chairman of Husch Blackwell confirmed this week that the law firm has de-equitized 25 partners.
After a 2008 merger that created a 600-attorney law firm with dual headquarters in Kansas City and St. Louis, the partnership took a look at its structure, resulting in the eventual reclassification of 25 equity partners as fixed-income partners, chairman Maurice Watson told Missouri Lawyers.
“A year ago, our firm determined that we needed to re-examine the criteria for equity partner, something that had not been evaluated since our firms merged four years ago,” he said in a written statement emailed to the legal publication by a spokeswoman. “Following an industry analysis, we determined that our criteria were lower than peer firms.”
He also said that the firm had elevated several fixed-income partners to equity partner status.
Hat tip: Above the Law.