Cravath Swaine & Moore, one of Wall Street’s most influential law firms, has elected four lawyers to its partnership ranks, marking the end of a significant year for the firm.
Cole DuMond and Adam Sanchez will be ascending to the roles of partners in the firm’s corporate department. Simultaneously, Lillian Grossbard and Jesse Weiss will be joining the litigation department. The announcement specifies that their partnership will officially commence from January 1st of the next year.
This year has been particularly active for the firm. Cravath opened an office in Washington and recruited former top government officials including former FDIC Chair Jelena McWilliams, former SEC Acting Chair Elad Roisman, and former Acting Attorney General Jeffrey Rosen.
Moreover, the firm extended its services to the UK with English law offerings sourced from their new-hires from Shearman & Sterling and Latham & Watkins.
Significantly, amidst other changes this year, the firm had silently introduced a salaried partner tier, veering away from its strict lockstep model. This change of pay structure attempts to accommodate the highly competitive scenario for acquisition of top legal talents. This initiative follows the steps of another leading Wall Street firm, Simpson Thacher & Bartlett, who introduced a similar tier in 2019.
The firm continues its tradition of elevating associates to partners, with eight lawyers have been bestowed the honour in the previous year, seven of whom belong to their corporate practice. This trend reaffirms the firm’s strong commitment to nurturing and promoting talent from within its ranks.
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