According to a recently conducted survey, law firms in the United Kingdom are looking forward to welcoming non-lawyers as partners when legislation implementing the reforms proposed by Sir David Clementi is put in place, although they are less keen to invite outside investment.
The poll of managing partners from 51 of the top 100 law firms in England and Wales was conducted by legal management consultancy Wheeler Associates, in conjunction with market research firm McCallum Layton.
Around 65% of those questioned revealed that they were planning to invite managers such as finance directors to become partners when they are permitted to do so, with 83% of those respondents additionally revealing that they would consider offering partnerships to business development, marketing and human resources managers.
However, by contrast, just 20% of those polled were open to outside investment, with a mere 10% feeling that their company would likely float on the stock exchange following the implementation of the new rules.
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