Skadden, Arps, Slate, Meagher, and Flom Offices in Manhattan, New York. Photo: Ryland West/ALM Skadden's Reputation Remains Sterling. So Why Are Partners Leaving?
The firm's M&A brand is as strong as any, but it has weathered a rare leadership transition and some observers say the private equity practice falls short of elite peers.
August 12, 2024 at 05:00 AM
8 minute read
The original version of this story was published on The American Lawyer
What You Need to Know
- High profile departures continue at Skadden even as the firm's financial metrics remain solid.
- Industry experts point to several factors, including a change in leadership, compensation caps and the modern lateral market.
With the loss of partners David Hepp and Matthew Collin last Thursday to Paul, Weiss, Rifkind, Wharton & Garrison, the departures of senior personnel continue to mount at Skadden, Arps, Slate, Meagher & Flom.
According to data from the London Stock Exchange Group, the firm was No. 1 in global M&A in the first half of 2024. The firm was announced as No. 6 on the 2024 A-List rankings from The American Lawyer earlier this week. Industry experts agree that the firm's M&A name brand is still powerful.
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