Dissent among lawyers at the firm is mounting, sparked by the partner hiring strategy in the US – despite New York’s failure to produce a material profit for a number of years.
Linklaters has been unsuccessful in attracting high-profile partners in New York, but if it does a number of partners are threatening not to vote through new recruits unless the firm restructures substantially its US base.
Discontent is growing against a backdrop of the firm’s continuing review of partner numbers. The Lawyer is aware of a number of partners currently discussing their futures at Linklaters.
In New York itself, leading asset finance partner Marianne Rosenberg, who until recently was head of the office, is understood to have had conversations with the management over her future. Rosenberg, who was replaced as New York head by Stephen Land, said: “I have no current intention of leaving.”
Lockstep continues to be an issue in New York and there are concerns that it may be altered to allow Linklaters to take on highly compensated US partners.