US firm Reed Smith has cut 15 partners out of the equity of its Californian merger partner Crosby Heafey Roach & May ahead of the two firms’ formal merger on 1 January.
The demotion see Crosby Heafey’s 55 remaining equity partners join Reed Smith’s partnership, compared to the 87 equity partners the Oakland-based firm had just two years ago. The merger will create a top 25 US firm by size, operating under Reed Smith’s name.
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