Quinn Emanuel Leadership Transition, BigLaw Growth & AI Legal Industry Trends in 2026
Four decades after founding Quinn Emanuel Urquhart & Sullivan, LLP in Los Angeles, founding partner John B. Quinn is stepping down as executive chairman effective immediately. Quinn will remain a partner and serve as nonexecutive chair, focusing on firm promotion and client development, while co-managing partners Bill Burck and Mike Carlinsky continue overseeing day-to-day operations. Quinn leaves behind a legacy of major litigation victories and significant firm growth, with Quinn Emanuel now employing more than 1,300 attorneys across 35 offices in 12 countries and reporting a 10% rise in profits per equity partner in 2025.
MARKET MOVEMENTS
Latham & Watkins snags Skadden real estate co-chair, Marco Caffuzzi
Mayer Brown hires Goodwin real estate partner, Ryan Sawyer, in D.C.
Troutman Pepper Locke LLP brings on Holland & Knight real estate pro, Kate Pennartz, in Dallas
Simpson Thacher& Bartlett LLP brings on AI west coast privacy chairs, Matt Kelly and Kim T. Le, from Debevoise
FIRM SPOTLIGHT - COHEN & GRESSER LLP
Cohen & Gresser LLP is a midsize law firm with around 80 attorneys and offices in New York, Washington, D.C., and internationally, known particularly for its strong white-collar defense and securities litigation practices. Founded in 2002 by Lawrence T. Gresser and Mark S. Cohen, the firm advises clients across areas including corporate law, litigation, employment, IP, privacy, tax, and real estate. Its white-collar team is recognized for handling internal and regulatory investigations, while its broader litigation practice covers matters ranging from antitrust to class actions and appeals. The firm also places a strong emphasis on pro bono work, supporting causes such as asylum, disability rights, housing, employment law, and nonprofit counseling.
INDUSTRY INSIGHTS
BigLaw remained a top choice for 2025 law graduates, with Duke University leading at 70.9% of grads entering large firms, followed by Columbia University and Northwestern University. Cornell dropped to No. 10 as more graduates pursued roles outside BigLaw.
Am Law 100 firms saw billing realization rise from 80.7% to 81.5% between 2024 and 2025, while collected realization remained steady at about 95.5%.
Legal industry revenue jumped 13% in Q1 2026, while demand rose 4.5%. Firms continue relying on associate growth and billing rate increases to drive profits.
The legal sector added 2,400 jobs last month, bringing total employment to 1.24 million and marking a year-over-year increase of 20,800 jobs.
ChatGPT Faces Legal Scrutiny in Court Filing Dispute
A federal lawsuit involving OpenAI and Nippon Life Insurance Co. of America is spotlighting growing concerns around AI-generated legal assistance. The case involves self-represented litigant Graciela Dela Torre, whose filings allegedly relied on ChatGPT and included inaccurate legal citations. The lawsuit raises broader questions about unauthorized practice of law, AI hallucinations, confidentiality, and whether generative AI can safely expand access to legal help for pro se litigants. Legal experts say the outcome could shape how courts and technology companies regulate AI’s role in the legal industry moving forward.
Legal Leaders Embrace AI Amid Compliance Challenges
A new global survey from CSC found that AI is becoming increasingly mainstream in legal operations, with 35% of legal leaders already using AI for tasks like compliance tracking, filings, and data maintenance, while another 26% are piloting AI tools. However, many general counsel still cite challenges, including legacy system integration and inconsistent global regulations. The report also found that legal teams are prioritizing technology upgrades, stronger data transparency, and trusted third-party partnerships as they navigate increasingly complex cross-border compliance and M&A activity in 2026.
