Ed. note: Welcome to our daily feature, Quote of the Day.
This is a different cycle. And their success or not will depend on whether they can get their partnership to agree that this new way of doing things [partners arriving and leaving with more regularity] is the new North Star for the firm. And that will depend on leadership.
— An anonymous Am Law 100 leader, in comments given to the American Lawyer on the changes that seem to be occurring at Cravath, including but not limited to partners leaving the firm (which was once unheard of), lateral partner hires being made (which was once a rarity), the and the creation of a nonequity partner tier.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.