The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Wall Street firm Cravath Swaine & Moore is the latest US firm to announce new partnership promotions for 2007, promoting four of its associates to the partnership.
The promotions follow a record year for Cravath. Average profit per equity partner rocketed 20 per cent to $2.7m (£1.5m) according to year-end financials for 2005.
The new promotions will take effect on 1 January 2007, the same day that management at Cravath will be officially overhauled. Evan Chesler will succeed Robert Joffe as presiding partner, while Allen Parker will oversee day-to-day management as deputy presiding partner (as reported on www.thelawyer.com, 12 October).
After the promotions, 91 partners can now enjoy the second-highest PEP in the US, after those at Wachtell Lipton Rosen & Katz.
Corporate associates Craig Arcella, Andrew Thompson and Damien Zoubek and litigation associate Teena-Ann Sankoorikal were all made up.
Cravath officially operates a generalist system where associates practise in most areas within corporate or litigation, but sources report that Arcella has expertise in banking whilst Zoubek and Thompson have extensive M&A experience.
It is understood that M&A and litigation will be key areas for focus for the firm in the coming months, and the new spate of promotions would reinforce that strategy.
Cravath follows Cleary Gottlieb Steen & Hamilton, Latham & Watkins, Wilson Sonsini Goodrich & Rosati and Paul Hastings Janofsky & Walker in announcing its partner promotions before the end of the year.