Cravath Elevates 7 to Partnership, Up From Last Year
Six of the firm's seven new partners are in the corporate practice group.
November 13, 2024 at 07:31 PM
3 minute read
What You Need to Know
- Cravath, Swaine & Moore promoted seven lawyers to partnership, effective Jan. 1 of next year.
- The majority of the incoming class of partners were in Cravath's corporate department.
- This class size is larger than last year's but falls short of other recent years.
Cravath, Swaine & Moore promoted seven attorneys to partnership, the firm announced on Wednesday.
Six of the seven attorneys elevated to partner are in Cravath's corporate practice, including Isaac Beerman, Alexander Greenberg, Jackson Lam, Edward Minturn, Margaret Rallings and Sarah Rosen. The firm promoted Jana Hymowitz in its executive compensation and benefits department. The promotions will take effect Jan. 1 of next year. Three of the seven attorneys promoted to partner are female.
This year's class of new partners nearly doubles last year's class size, but it still falls short of other recent years. The firm promoted 11 lawyers to partner in 2020, including two Black attorneys, followed by five in 2021, eight in 2022 and four in 2023.
As in previous years, it's unclear if these new partners will join Cravath's equity or nonequity tiers. The firm did not immediately return a request for further comment about the class.
Two of the incoming partners—Beerman and Rosen—focus their practices on banking, while two—Greenberg and Minturn—prioritize mergers and acquisition work. Lam and Rallings' work focuses on leveraged finance, as well as banking and capital markets.
Cravath is not alone in prioritizing partners with experience in corporate matters when it comes to issuing promotions. Last week, Latham & Watkins promoted 24 lawyers to partner, including 17 based in the U.S. More than half of Latham's newest class of partners work under the umbrella of its corporate practice.
The rate at which firms have promoted partners so far this year varies. Kirkland & Ellis again kept its class of new partners at 200 this year, and Bryan Cave Leighton Paisner also kept its partnership class total flat, adding another 24 partners across its 10 offices this year. Cleary Gottlieb Steen & Hamilton promoted 26 lawyers to partner this week, up from 15 partners the year prior. Meanwhile, White & Case cut its incoming partner count for the fourth year in a row this year, adding 37 new partners in October. Kilpatrick Townsend & Stockton also recently announced partner promotions—the firm added 10 partners on Oct. 31, up from nine the previous two years, but down from 11 partners added in 2021.
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