MAGIC CIRCLE PARTNERS STILL RETIRE EARLY

The very prosperous London-based law firm Slaughter and May announced that 52 year old corporate partner Christopher Saul was elected to a five year term as the firm's leader, known as the "senior partner." He is a lifer at the firm and in May will succeed Tim Clark, another corporate partner, who has led the firm for seven years.

Clark will retire from the firm after practicing there for 34 years. but at age 57, he is not retiring from work. He says he is considering a number of job offers, but none of them are in the legal sector. With the firm's 2006 profits-per-partner of $2.5 million, he is likely to be in good financial shape whatever choice of next destination he makes.

So far it is not unusual for partners in the Magic Circle (highest ranked London-based law firms) to retire from the firm early but not retire from work. These Baby Boomers have a lot of good years ahead of them for new careers.

However, in the case of Clark and Saul, only five years apart in age, the baton is not passing to the next generation, and the management philosophy and strategy appears to be remaining the same.

Phyllis Weiss Haserot       www.pdcounsel.com