THE CHEETAH BRIEF – 46TH EDITION
Am Law 200 firms are continuing to expand their New York office footprints heading into 2026, reflecting sustained headcount growth and renewed investment in physical workspaces. Firms including Haynes and Boone, Gibson Dunn, and Bond, Schoeneck & King have all recently added space, while the New York Attorney General’s office expanded its Lower Manhattan presence to more than 378,000 square feet at 28 Liberty Street. The expansions emphasize long-term leases, collaboration-focused office design, and room for future growth, underscoring a broader trend of firms prioritizing in-person work and talent investment—even as some firms opt to renovate rather than increase their overall footprint.
MARKET MOVEMENTS
Freshfields recruits King & Spalding partner, Nema Milaninia, for risk management practice
Paul Hastings recruits Gail Levine, co-lead of Mayer Brown’s antitrust and competition practice
Sidley hires Clifford Chance partner trio, Cliff Cone, Michael Sabin and Dan Drabkin, in New York
Wachtell corporate partner, Allison Preiss, moves to Simpson
FIRM SPOTLIGHT - A&O SHEARMAN
Formed through the 2024 merger of London-founded Allen & Overy and New York–based Shearman & Sterling, A&O Shearman is a global legal powerhouse with nearly 4,000 lawyers across 47 offices in 28 countries, including roughly 650 attorneys in the U.S. The firm combines Allen & Overy’s longstanding international reach with Shearman & Sterling’s deep Wall Street roots, creating a platform with elite client rosters and global prestige. Its practices span key global sectors such as energy transition, technology, and private capital, and the legacy firms collectively held 122 Band 1 Chambers rankings worldwide. A&O Shearman positions itself as a forward-looking firm focused on quality, innovation, and excellence in handling clients’ most complex matters.
INDUSTRY INSIGHTS
The planned merger between Am Law 100 firm Cadwalader Wickersham & Taft and Am Law 50 firm Hogan Lovells could create the world's fifth-largest firm based on combined annual revenues of more than $3.6 billion the firms reported in 2024
Sullivan & Cromwell joins the ranks of top-tier firms with non-equity partnership track. The firm also announced a new “discretionary enhanced associate bonus” system, whereby the top 10% of billers in their practice groups will receive additional compensation
A survey from Axiom in 2024 indicated that 34% of in-house attorneys spend too much time on administrative tasks, and 44% felt low job satisfaction from conducting repetitive tasks or legal matters instead of working on more complex or sophisticated matters
White & Case is leaning into lateral partner teams, with group hires accounting for 38% of the firm’s lateral partner hiring in the past year
Gibson Dunn Launches First Amendment Practice Group
Gibson Dunn & Crutcher LLP has launched a First Amendment and free expression practice group, co-led by Theodore J. Boutrous Jr., Connor Sullivan, and Katie Townsend, who returned after a decade at the Reporters' Committee for Freedom of the Press. The group focuses on complex free speech matters, including high-profile media, technology, and government-related disputes, such as defending OpenAI in a defamation case and representing NPR against a presidential executive order. The firm says the group reflects rising challenges to free expression, handling domestic and cross-border matters involving media, technology platforms, corporate speech, and religious freedom.
Jon Burd Named Next Managing Partner of Wiley Rein
Wiley Rein has named Jon Burd as its next managing partner effective January 2027, marking the firm’s first leadership transition in 15 years as he succeeds longtime leader Peter Shields, who will retire at the end of this year. A partner since 2013, Burd plans to pursue steady, long-term growth through measured lateral hiring while maintaining the firm’s single-office, Washington, D.C.–based model and building on Shields’ modernization efforts following a strong financial year.
