On August 1, 2025, McDermott Will & Emery and Schulte Roth & Zabel finalized their merger, forming McDermott Will & Schulte, a law firm comprising approximately 1,750 attorneys across more than 20 global offices. This consolidation positions the firm among the top 20 U.S. law firms by revenue, with combined earnings exceeding $2.8 billion in 2024. ([reuters.com](https://www.reuters.com/legal/transactional/mcdermott-schulte-partnerships-vote-approve-law-firm-merger-2025-06-26/?utm_source=openai))
McDermott, established in Chicago, is recognized for its expertise in healthcare, tax, and mid-market mergers and acquisitions. In 2024, the firm reported over $2.2 billion in gross revenue. Schulte, based in New York, specializes in advising hedge funds and private capital clients, generating more than $618 million in revenue during the same period. ([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 their market share and profitability. Recent notable mergers include the formation of Herbert Smith Freehills Kramer and A&O Shearman, underscoring 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))
In New York, the combined firm will establish one of the largest private law offices, with over 540 lawyers, ranking it among the top 10 in the city by headcount. ([abovethelaw.com](https://abovethelaw.com/2025/05/proposed-biglaw-merger-will-create-new-top-20-am-law-firm-new-top-new-york-firm/?utm_source=openai))
Leadership from both firms expressed enthusiasm about the merger. Ira Coleman, Chairman of McDermott, stated, “We’re thrilled to be joining forces with Schulte. We’re not just expanding our expertise, we’re redefining what it means to be a modern, elite law firm – deeply specialised, relentlessly client-focused and committed to a people-first culture.” ([globallegalpost.com](https://www.globallegalpost.com/news/mcdermott-schulte-agree-28bn-merger-1826249025?utm_source=openai))
As the legal industry continues to evolve, the formation of McDermott Will & Schulte exemplifies the strategic moves firms are making to remain competitive in a dynamic market.