THE CHEETAH BRIEF – 54TH EDITION

Reed Smith is continuing its rapid expansion with the launch of a new Boston office—its fourth in just over a year—built by recruiting a targeted group of partners and associates from top competing firms. The team, focused on private equity, M&A, finance, and fund formation, reflects strong client demand in the Boston market and aligns with the firm’s broader strategy of strengthening its transactional capabilities. Firm leadership emphasized that additional hires are expected, underscoring Boston as a key growth hub. This move follows Reed Smith’s recent pattern of entering new markets by handpicking entrepreneurial talent to build cohesive, high-performing teams, driven by sustained global demand in corporate and finance work. The expansion also highlights the firm’s focus on high-growth sectors like healthcare, life sciences, and technology.

MARKET MOVEMENTS

Cozen O’Connor launches fraud and recovery practice with Florida Holland & Knight hires including: David Spector, Adam Hodges and Andrew Loewenstein

Two Kirkland partners, Christine Bae and Jacob Ruby, follow liability management leader David Nemecek to Simpson

Goodwin opens Orange County office with three Jones Day partners, Ryan Ball, Richard Grabowski and John Vogt

DLA Piper lands Shook Hardy's products liability Co-Chair, Hilda Sastre in Miami

FIRM SPOTLIGHT - CADWALADER, WICHERSHAM & TAFT LLP

Cadwalader, Wickersham & Taft LLP, the oldest continuously operating Wall Street law firm, has built a longstanding reputation across key practices including capital markets, finance, litigation, and real estate, with offices spanning major global financial centers. Founded in 1792, the firm played a major role in modernizing the legal profession by introducing the associate model and quickly established itself advising banks, insurers, and prominent New York clients. Today, it is especially recognized for its strength in real estate and structured finance, alongside top-tier capital markets and regulatory work, consistently earning industry accolades. Beyond its legal capabilities, the firm invests in attorney development and civic engagement through training programs and initiatives that promote pro bono work and involvement with civil rights organizations.

INDUSTRY INSIGHTS

• Perkins Coie’s gross revenue in fiscal year 2025 rose 2% to $1.284 billion. The firm’s net income was down 1.7% annually to $305.2 million. Overall headcount was 1,020 lawyers, a decrease of roughly 4% year-over-year.

• Goodwin revenue surges 11% to $2.7B amid sector-based strategy. The firm crossed the $4 million mark in average profits per equity partner for the first time, growing by 17% to hit $4.24 million and contributing to net income growth of 16.6% to $1.32 billion

• Focused on profitability, Katten posted a record year in 2025 with net income up 18.3%, revenue up 5.8% and profits per equity partner up 24.5%.

• Columbia (99.29%), NYU (96.94%) and Cornell (98.25%) led bar passage rates in New York in 2025

Weil Names First Female Leader

Weil, Gotshal & Manges has named Ramona Nee as its next executive partner, effective 2027, marking a historic transition as she becomes the firm’s first woman to hold the role. She will work alongside current executive partner Barry Wolf during a year-long transition before fully assuming leadership, while co-managing partner Jonathon Soler steps into the role of sole managing partner. The move follows a multi-year leadership planning process and reflects the firm’s broader effort to evolve its governance structure while maintaining its collaborative “one firm” model amid a changing legal landscape.

Paul Weiss Revamps Leadership Structure

Paul, Weiss, Rifkind, Wharton & Garrison has introduced a significant leadership overhaul under new chair Scott Barshay, including the formation of a streamlined executive committee and a group of vice chairs serving as his close leadership team. Key figures such as Neel Sachdev, Matthew Abbott, Brian Hermann, and Katherine Forrest have been elevated, signaling a continued strategic shift toward transactional work and highlighting the firm’s growing investment in its London office. These changes come in the wake of former chair Brad Karp stepping down and reflect a broader effort to modernize the firm’s governance structure while positioning it for continued growth in deal-driven practices.