Proposed Biglaw Merger Will Create New Top 20 Am Law Firm, New Top New York Firm
Partners are expected to vote on the combination within the next 90 days. The post Proposed Biglaw Merger Will Create New Top 20 Am Law Firm, New Top New York Firm appeared first on Above the Law.
Earlier this month, McDermott Will & Emery and Schulte Roth & Zabel made the surprise announcement that they’d been in merger talks, noting that they were “finalizing a transformative combination.” The merged firm would have more than 1,650 lawyers and a combined revenue of more than $2.8 billion, which would likely land it in the Am Law Top 20.
In a recent interview with the American Lawyer, it was revealed that partners are expected to vote on the proposed merger within 90 days, and leaders at both firms seem confident about where things are headed. Although a combined firm name hasn’t been reached yet, McDermott chair Ira Coleman isn’t letting it get to him. “We’re just, you know, taxiing down the runway,” Coleman told Am Law’s Patrick Smith. “So much to do. We’re gonna try to build the plane while we’re flying in, and we will never let this affect our client service.” (Let’s hope that runway isn’t in Newark, New Jersey.)
Not only is this merger expected to create a top Biglaw firm, but a marriage between McDermott and Schulte will also create a top New York firm. Am Law has the details:
The combined firm would create one of the largest law offices in Manhattan, rivaling many Wall Street firms by head count.
According to ALM’s data on 2024 full-time equivalent figures, McDermott had 235 lawyers in the city last year, while Schulte had 313. If combined, the firms’ New York office, with more than 540 lawyers, would likely be ranked in the top 10 of the largest private law offices in the city based on head count.
You can’t go wrong when your firms will be catapulted to the top of the charts thanks to a compatible merger. Best of luck to McDermott Will & Emery and Schulte Roth & Zabel as they work out the kinks on this contemplated merger.
McDermott and Schulte, With Merger Vote Within Months, Plan for Top NY Office [American Lawyer]
Earlier: Biglaw Merger Talks Could Create New $2 Billion Firm
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
The post Proposed Biglaw Merger Will Create New Top 20 Am Law Firm, New Top New York Firm appeared first on Above the Law.
