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Are We Seeing the End of the Single-Tier Partnership Structure?

With a growing number of firms moving to a two-tier partnership structure, the question becomes what comes next for the dwindling number of major firms that don't have a nonequity tier. At what point do tradition and culture yield to change and progression?

6 minute read November 01, 2024 at 12:03 AM
By
Patrick Smith
Are We Seeing the End of the Single-Tier Partnership Structure?

With Cleary Gottlieb Steen & Hamilton moving to a two-tier partnership structure this month, the latest in a line of recent converts, the question becomes what comes next for the dwindling number of major firms that don't have a nonequity tier.

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