Reed Smith's Nonequity Partners To Invest In Firm

Law360, New York (November 16, 2009, 7:02 PM EST) -- Reed Smith LLP has decided to require its nonequity partners in the U.S. to invest the equivalent of 15 percent of their salaries into the firm and to tie at least part of their compensation to the performance of the firm, a partner said Monday.

Global Managing Partner Gregory B. Jordan told Law360 that the firm is making the change — which will also change the name of nonequity partners to "fixed-share partners" — in part so that all partners have a financial stake in the...
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