Shearman & Sterling office entrance in Manhattan, New York. Photo: Ryland West/ALM Shearman's Financial Issues Mount, Sources Say, But New Leader Sees Path Forward
Senior partner Adam Hakki noted that while 2023 will be a transition year, many of the firm's practices are thriving and partners are being paid "consistent with our long-standing profit distribution practices."
April 27, 2023 at 05:00 AM
7 minute read
Law Firm Profitability
Shearman & Sterling's financial health has been strained amid the drop in deal work in the last year and financial commitments to certain partners, several sources familiar with the firm have told Law.com. However, the firm's new leader, senior partner Adam Hakki, is strongly refuting those characterizations, noting that many of the firm's core practices are thriving.
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