A glance at promotion figures from the top quarter of New York’s largest law offices shows the percentage of New York attorneys making partner holding steady or declining, a trend that legal market observers say is due to a combination of smaller class sizes, diminished legal demand and legal market growth outside the city.
In their latest rounds of promotions, several firms among the 25 largest in New York promoted a single New York partner, including Simpson Thacher & Bartlett; Proskauer Rose; Schulte Roth & Zabel; Shearman & Sterling; Cadwalader Wickersham & Taft; and Cahill Gordon & Reindel. Kaye Scholer promoted no new partners in New York for 2013.
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