Cleary Gottlieb Innovates with Introduction of Nonequity Partner Tier to Foster Professional Growth

In a strategic move towards fostering innovation and adaptability, Cleary Gottlieb Steen & Hamilton has announced the establishment of a nonequity partner tier. This new tier is part of the firm’s broader efforts to enhance opportunities for promotion and professional development, rather than altering its leverage model. As articulated by managing partner Michael Gerstenzang, “We are not doing it to create a different leverage model within the firm,” but to provide more avenues for growth and advancement within the legal sector. For more details on this development, you can read the original announcement on Law.com.