It’s a transformative time for the legal industry as McDermott Will & Schulte officially begins operations this first week of August. Born from the merger of McDermott Will & Emery and Schulte Roth & Zabel, this new legal behemoth starts strong with a staggering $3 billion gross revenue, over 1,750 attorneys, and a widespread presence in more than 20 offices globally.

The firm celebrated its launch with a newly minted website, signaling a fresh yet formidable beginning in the competitive Biglaw arena. While the complete structure of firmwide leadership is still being decided, McDermott’s Chairman Ira Coleman continues at the helm of the merged entity.

According to reports from the New York Law Journal, the integration of leadership roles is currently underway, with significant positions being assumed by former Schulte Roth & Zabel partners. They are expected to play crucial roles across various management, executive, and compensation committees, and also co-lead the firm’s pivotal New York and London offices.

The specifics of roles for former Schulte co-managing partners Marc Elovitz and David Efron are still under wraps. A firm spokesperson stated that the details are being finalized and an announcement is forthcoming.

Despite the uncertainties in their new capacities, Elovitz and Efron are optimistic about the merger. “Combining with McDermott empowers us to broaden our impact, deliver unmatched value, and redefine what clients can expect from their legal partners,” they expressed in a statement. “We’re excited to chart this future together.”

This merger is not just about scale; it’s about setting a new precedent in the legal field. The industry watches keenly as McDermott Will & Schulte steps into the limelight, poised potentially to reshape market dynamics and client expectations alike.

As the firm strides forward, the legal community and its clientele eagerly anticipate the innovations and services that McDermott Will & Schulte will bring to the table. Congratulations to the new megafirm on a promising start. We look forward to seeing their impact on next year’s Am Law 100 rankings and beyond.

For more detailed insights into the firm’s leadership integration and early days, refer to coverage by the New York Law Journal on this significant merger in the legal sector.