Elite New York firm Sullivan & Cromwell has made a rare senior management appointment, with real estate chief Joseph Shenker last week confirmed as the Wall Street heavyweight’s chairman-inwaiting.
The real estate specialist, who first rose to prominence in 1986 when he became the firm’s youngest-ever partner, will become vice chairman with a brief to assist Sullivan’s high-profile current chair, Rodgin Cohen. The role of vice chairman is viewed as a stepping stone to take over the leader-ship of the elite US firm.
