McDermott Will & Emery and Schulte Roth & Zabel have finalized a merger, effective August 1, creating a combined firm named McDermott Will & Schulte. This union brings together approximately 1,750 lawyers across more than 20 global offices, positioning the firm among the top 20 U.S. law firms by revenue. ([reuters.com](https://www.reuters.com/legal/transactional/mcdermott-schulte-partnerships-vote-approve-law-firm-merger-2025-06-26/?utm_source=openai))
McDermott, with roots in Chicago and a workforce of about 1,400 lawyers, reported over $2.2 billion in gross revenue for 2024. The firm is recognized for its expertise in healthcare, tax, and mid-market M&A practices. Schulte, based in New York with approximately 360 lawyers, focuses on hedge funds, private capital, and financial services regulation, generating over $618 million in gross revenue in 2024. ([reuters.com](https://www.reuters.com/legal/transactional/mcdermott-schulte-partnerships-vote-approve-law-firm-merger-2025-06-26/?utm_source=openai))
The merger reflects a broader trend of consolidation within the legal industry, as firms seek to enhance market share and profitability. Recent similar mergers include the formation of Herbert Smith Freehills Kramer and A&O Shearman, highlighting the competitive and expansion-driven nature of the sector. ([reuters.com](https://www.reuters.com/legal/transactional/mcdermott-schulte-partnerships-vote-approve-law-firm-merger-2025-06-26/?utm_source=openai))
Ira Coleman, McDermott’s chairman, emphasized the strategic importance of the merger, stating that the firm is “not just expanding our expertise, we’re redefining what it means to be a modern, elite law firm—deeply specialized, relentlessly client-focused, and committed to a people-first culture.” ([abovethelaw.com](https://abovethelaw.com/2025/06/elite-biglaw-merger-approved-poised-to-become-2-billion-firm/?utm_source=openai))
Marc Elovitz, Schulte’s co-managing partner, described the merger as “truly transformational,” highlighting the combined firm’s enhanced capabilities and global reach. ([news.bloomberglaw.com](https://news.bloomberglaw.com/business-and-practice/mcdermott-schulte-partners-approve-merger-to-create-mega-firm?utm_source=openai))
The combined firm’s projected annual revenue of approximately $2.8 billion positions it among the largest law firms globally, reflecting the ongoing trend of consolidation in the legal industry. ([legal.io](https://www.legal.io/articles/5693532/McDermott-Schulte-Partnerships-Vote-to-Approve-Merger?utm_source=openai))
McDermott Will & Emery and Schulte Roth & Zabel have finalized a merger, effective August 1, creating a combined firm named McDermott Will & Schulte. This union brings together approximately 1,750 lawyers across more than 20 global offices, positioning the firm among the top 20 U.S. law firms by revenue. ([reuters.com](https://www.reuters.com/legal/transactional/mcdermott-schulte-partnerships-vote-approve-law-firm-merger-2025-06-26/?utm_source=openai))
McDermott, with roots in Chicago and a workforce of about 1,400 lawyers, reported over $2.2 billion in gross revenue for 2024. The firm is recognized for its expertise in healthcare, tax, and mid-market M&A practices. Schulte, based in New York with approximately 360 lawyers, focuses on hedge funds, private capital, and financial services regulation, generating over $618 million in gross revenue in 2024. ([reuters.com](https://www.reuters.com/legal/transactional/mcdermott-schulte-partnerships-vote-approve-law-firm-merger-2025-06-26/?utm_source=openai))
The merger reflects a broader trend of consolidation within the legal industry, as firms seek to enhance market share and profitability. Recent similar mergers include the formation of Herbert Smith Freehills Kramer and A&O Shearman, highlighting the competitive and expansion-driven nature of the sector. ([reuters.com](https://www.reuters.com/legal/transactional/mcdermott-schulte-partnerships-vote-approve-law-firm-merger-2025-06-26/?utm_source=openai))
Ira Coleman, McDermott’s chairman, emphasized the strategic importance of the merger, stating that the firm is “not just expanding our expertise, we’re redefining what it means to be a modern, elite law firm—deeply specialized, relentlessly client-focused, and committed to a people-first culture.” ([abovethelaw.com](https://abovethelaw.com/2025/06/elite-biglaw-merger-approved-poised-to-become-2-billion-firm/?utm_source=openai))
Marc Elovitz, Schulte’s co-managing partner, described the merger as “truly transformational,” highlighting the combined firm’s enhanced capabilities and global reach. ([news.bloomberglaw.com](https://news.bloomberglaw.com/business-and-practice/mcdermott-schulte-partners-approve-merger-to-create-mega-firm?utm_source=openai))
The combined firm’s projected annual revenue of approximately $2.8 billion positions it among the largest law firms globally, reflecting the ongoing trend of consolidation in the legal industry. ([legal.io](https://www.legal.io/articles/5693532/McDermott-Schulte-Partnerships-Vote-to-Approve-Merger?utm_source=openai))