It’s the first full week of August, and for the Biglaw community, that means that a new competitor has officially entered the marketplace. August 1st marked McDermott Will & Schulte’s very first day of existence, and the brand new megafirm — formed from the union of McDermott Will & Emery and Schulte Roth & Zabel — grosses $3 billion, with more than 1,750 lawyers, spread across more than 20 offices globally. The firm has already made some major moves, including the launch of a new website. As far as firmwide leadership is concerned, that’s still a bit up in the air.
Legacy McDermott chairman Ira Coleman has retained his leadership post at the newly integrated firm. What’s to become of those who once served as leaders at legacy SRZ? The New York Law Journal has the details:
McDermott said the former partners and leaders of legacy New York firm Schulte Roth & Zabel will “assume key roles across the management, executive, and compensation committees.” They will also serve as co-leads for the firm’s New York and London offices, the firm said.
Still, it wasn’t immediately clear on Monday the exact roles of former Schulte co-managing partners Marc Elovitz and David Efron in the leadership structure. “The firm is finalizing leadership details and looks forward to sharing that information,” a spokesperson said Monday.
No matter their new roles, Elovitz and Efron are celebrating MWS. “Combining with McDermott empowers us to broaden our impact, deliver unmatched value, and redefine what clients can expect from their legal partners,” they said. “We’re excited to chart this future together.”
Congratulations to McDermott Will & Schulte on starting this merger off on the right foot. We can’t wait to see how the firm will shake up the Biglaw market and what next year’s Am Law 100 will look like with the firm’s large presence officially on the board.
McDermott Will & Schulte Work to Integrate Leadership, Partners After Fast Merger [New York Law Journal]
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Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.