THE CHEETAH BRIEF – 23rd Edition

McDermott Will & Schulte, the newly formed Am Law 50 firm resulting from the merger of McDermott Will & Emery and Schulte Roth & Zabel, has begun integrating leadership across key committees, with former Schulte leaders taking on major roles. While the exact positions of Schulte’s former co-managing partners, Marc Elovitz and David Efron, are still being finalized, they will help lead the firm’s New York and London offices. The merger, completed in record time on August 1, created a global firm with $3 billion in revenue, 1,750 attorneys, and strong practices in health care, tax, private capital, litigation, and more. McDermott Chair Ira Coleman called the rapid merger a sign of what’s possible when firms move with trust and speed, though some leadership decisions may still evolve post-merger. The move reflects a broader trend of smaller firms combining with larger ones to stay competitive in profitability and scale.MARKET MOVEMENTS

Paul Weiss U.S. private equity partner, Arain Usman, moves to Willkie.

Greenberg Traurig hires public law expert Thomas Dünchheim from Hogan Lovells in Dusseldorf.

Crowell hires more than 40 health care lawyers from Reed Smith.

Arnold & Porter Kaye Scholer has continued hiring K&L Gates' West Coast talent, hiring an eight-partner lateral team in its Seattle and Los Angeles offices including: Marisa Bocci, Mark Filipini, Ashley Gammell, Ryan Groshong, Kari Larson, Aaron Millstein, Todd Nunn and Daniel Glassman.

FIRM SPOTLIGHT - DECHERT LLP

Founded in 1875, Dechert has grown into a major player in the global legal market, particularly known in the U.S. for its work in antitrust, litigation, private equity, financial services, and white-collar defense. The firm shifted its focus in the late 1990s toward specialization and international expansion, establishing offices across Europe, the Middle East, and Asia. Dechert is especially recognized for its top-tier financial services and litigation practices, serving nine of the world’s top ten asset managers. Its attorneys handle cross-border matters and advise across industries like real estate, life sciences, and tech. The firm invests in its people through programs like the Wharton Business Program for Dechert and awards for mentorship.

INDUSTRY INSIGHTS

• The average compensation for lateral partners has increased by approximately 6% between 2023 and 2024, to $1.27 million. That figure is also up 23% over what they call the “post-pandemic” period, 2021-2023.

• Lateral moves between mostly Am Law 200 firms increased by 6% between 2023 and 2024, from 4,783 to 5,069. That number is also up 17% over the seven-year average.

• Law firm mergers are up 21% in the first half of 2025 with 35 recorded mergers as of mid-June.

• As reported in Clio’s legal trends report, the average hourly billable rate for lawyers in 2024 was $341.

• The U.S. Bureau of Labor Statistics forecasts a 5% growth in lawyer employment from 2023 to 2033. That’s in line with the average growth rate across all occupations.

INDUSTRY NEWS

NCAA Taps Beth Wilkinson as Chief Legal Officer Amid Landmark Settlement

The NCAA has promoted its top lawyer, Beth Wilkinson, to Chief Legal Officer and Executive Vice President following the landmark $2.8 billion House v. NCAA settlement, which allows schools to pay college athletes directly for the first time. Wilkinson, who played a key role in the case, will help oversee the implementation of the settlement's terms, including a new revenue-sharing model and compliance enforcement. Her promotion signals the NCAA’s strategic shift toward stronger legal leadership as it navigates unresolved challenges like athlete employment status, Title IX implications, and ongoing NIL regulation in a rapidly evolving college sports landscape.

Freshfields Opens Majority-Owned Saudi Office, Ends LFSH Association

Freshfields has launched a majority-owned office in Saudi Arabia, ending its long-standing association with the Law Firm of Salah Al-Hejailan (LFSH), though the two will continue collaborating under a new alliance within Freshfields’ global “Stronger Together” network. The move follows a Saudi Ministry of Justice directive requiring international firms to shift away from association models. The new Riyadh office will be co-led by partners Fares Al-Hejailan and Amani Khalifa, expanding Freshfields’ regional presence alongside offices in Dubai, Abu Dhabi, and Bahrain. The firm remains focused on advising major transactions and disputes across Saudi Arabia and the broader MENA region.