Milbank’s Move: Big Law Pay Leader Quiet as Bonus Season Revs Up

As Big Law’s annual bonus season approaches and colleagues at prestigious firms wait for word on further compensation, all eyes are on Milbank LLP. Depending on seniority, Wall Street’s Cravath Swaine & Moore announced on Tuesday that it would give its employees two bonuses totaling up to $140,000. Since then, a few firms have followed,…

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Troutman Pepper Locke Promotes First Class of Partners Post-Merger

In its first partner elevation since joining at the beginning of the year, Troutman Pepper Locke has named 20 new partners throughout its platform. Four of those twenty new partners were headquartered in Atlanta, and four more lawyers were based in New York. Troutman Pepper Hamilton & Sanders, a heritage firm, produced 19 of the…

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How McDermott Is Evaluating Outside Investment

Last week, Ira Coleman and McDermott caused a stir when it was revealed that the company was looking for outside funding. Coleman got down with Patrick Smith of Legal Speak to provide some clarification and talk about what is actually going on, the firm’s current trajectory, and the strategic and philosophical justifications for looking for…

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Pillsbury Fights to Keep Nearly $4 Million in Client Money Sought by SEC

The Second Circuit Court was informed by Pillsbury Winthrop Shaw Pittman’s attorney that the firm shouldn’t be required to reimburse millions of dollars in a retainer that was received before a client’s assets were frozen. According to the SEC, the money was obviously intended for the client’s “advantage.”

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Perkins Coie Private Equity Partner Jumps To Taft In Chicago

Before Theodore Wern found his calling at Taft, he worked at Perkins Coie for sixteen years. Wern has worked in the legal field for 25 years and has a wealth of expertise representing investor groups, private equity firms, and both public and private businesses.

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Cravath Promotes Six to Partnership, Including Four in Corporate

Six lawyers have been promoted to partners at Cravath, Swaine & Moore, the firm said on Wednesday. With the promotions taking effect on January 1, 2026, the class consists of two litigants and four business partners.

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Ropes, Dechert, Fried Frank and McDermott Follow Cravath, Milbank Bonus Scales

According to documents acquired by Law.com on Wednesday, the most recent Big Law firms to match Cravath, Swaine & Moore’s year-end incentives and special bonuses are Ropes & Gray, Dechert, McDermott Will & Schulte, and Fried, Frank, Harris, Shriver & Jacobson.

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