For the first time in 17 years, there’s new leadership at storied mergers and acquisitions law firm Wachtell, Lipton, Rosen & Katz, with Andrew Nussbaum and William Savitt replacing Ed Herlihy and Daniel Neff as co-chairs.

But other big changes may not be in store. The Wall Street firm may keep its same approach in firm operations for as long as possible, whether it’s the firm’s lockstep compensation system, partnership structure or practice-area focus.

William Savitt, co-chair of the Litigation Department of Wachtell, Lipton, Rosen & Katz. William Savitt. Courtesy photo

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