Ex-Dundas partners to be included in CMS partner review for first time

Ex-Dundas and Wilson partners will be included in CMS’ annual partner remuneration for the first time, The Lawyer reports.

The pair merged in 2014 to establish a £277 million firm, with Dundas partners agreeing to a two year lock-in period.

It is believed Dundas partners began on the first two partnership tiers within CMS, with the lock-in period guaranteeing them an income based on average earnings over a fixed period.

As the lock-in period is due to end next month, the ex-Dundas partners will be included in the partner performance review.

CMS UK managing partner Duncan Weston dispelled rumours the firm was undertaking a larger partnership restructuring review.

He told The Lawyer: “The Dundas & Wilson partners were always on the same structure right from the start.

“They were in a lock-in period, that’s a two-year lock-in, and that’s come to an end and now they just move up as we treat them as any other partner.

“They get an annual review every year and they progress according to that partner appraisal. It’s a completely normal practice and there’s no change at all to our model. They are joining it outside of the lock-in.”

CMS scrapped its salaried partner rank in 2013, during its last partnership model review. The 65 affected lawyers were made fixed-share partners. As a consequence of the changes, fixed-share partners could make full equity in four years.

CMS’ equity lockstep progresses from 28 to 70 points, with partners rising up the scale six points annually. Gateways are set every three years, though most partners are expected to move up the ladder every year within these.

On joining the lockstep, and at each gateway, partners’ progress can be slowed down, sped up, or occasionally they can be moved down – CMS’ overseas board oversees the reviews.