Richards Butler given pre-merger profit ultimatum by Proskauer

Hoare, Steve
March 2005
Lawyer;3/7/2005, Vol. 19 Issue 9, p1
Trade Publication
This article presents information on Richards Butler's potential U.S. beau Proskauer Rose LLP which has said Richards Butler needs to raise its profit per equity partner figure of 415,000 pounds to nearer Proskauer's $1.1 million per partner. A merger between the two firms would create a transatlantic firm with around 1,000 lawyers and with revenues of more than 300 million pounds. The de-equitisation measures are a break from the firm's culture of caution but were voted through by 75 percent of the partnership required for such decisions.


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