A&O Private Client Partners set up new Firm: Maurice Turnor Gardner

In response to the unprecedented current, global market conditions, A&O today announced proposals to reduce the size of the Firm.

They have announced a global reduction in partner headcount of approximately 9 per cent (47 partners) and are planning a series of other measures to ensure future competitiveness, including a proposed 9 per cent reduction in the number of other fee earners globally and a similar proposed reduction in support staff headcount. 2009 pay will be frozen for all staff globally and we will continue to bear down on all other costs.

As part of this strategic review, they have also announced today that the private client practice is to demerge and become an independent firm, Maurice Turnor Gardner LLP, with effect from 1 May 2009.