Cravath Leans on Litigators in New Partner Class
The dealmaking powerhouse promoted five litigators and just one new corporate partner.
November 07, 2019 at 04:36 PM
2 minute read
Cravath, Swaine & Moore's offices in Manhattan. (Photo: Mike Scarcella/ALM)
Cravath, Swaine & Moore has elected six new partners to its ranks, the firm announced Wednesday, and all but one are litigators.
Michael Addis, Justin Clarke, Sharonmoyee Goswami, Evan Norris and Lauren Rosenberg each belong to the firm's litigation department. Only C. Daniel Haaren is in the corporate department. The partners will become members of the firm Jan. 1, 2020.
With just 83 partners generating average profits of $4.62 million last year, the newly promoted lawyers are joining a famously rarefied club. The Wall Street firm's relatively cozy partnership—still small enough to squeeze everyone on its standard letterhead—also stands out for its continued commitment to lockstep compensation, in which pay is determined by seniority.
Cravath's leadership wasn't immediately available to respond to questions about the tilt toward litigators in the firm's latest partner promotions. Last year the firm promoted two corporate partners and one litigator. In 2017 the balance was opposite that of the current round, with five new corporate partners and one in the firm's litigation department.
As of June 2019 there were 34 litigators in the firm's partnership, with 42% of Cravath's total lawyers in the litigation department, according to firm figures.
Cravath has been involved in a slew of high-profile litigation matters during the past two years, including fending off antitrust claims against American Express; helping to defend Time Warner's merger with AT&T; representing Qualcomm in its long battle with Apple over chips; representing The Weinstein Co. in its bankruptcy; and representing PG&E in sprawling wildfire litigation. This year the firm was named a finalist in The American Lawyer's Litigation Department of the Year contest.
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Can Cravath and Wachtell's Lean Lockstep Approach Keep Them on Top?
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