Cravaths M&A Partner Joins Freshfields in New York
In the world of Biglaw, Cravath has always been held up as the gold standard. It’s not just because they set the Cravath scale for Biglaw salaries, but also because they’re known for guiding them from associates to partners.
It’s a place where attorneys often spend their entire working lives, and they even have a tradition of attending each other’s funerals in a respectful group procession known as the “Cravath walk.” (And no, there’s no eerie cult-like chanting happening, despite the old rumors.)
But it seems like there might be some cracks in this seemingly idyllic facade at the storied firm.
Notably, Cravath has taken a departure from its longstanding practice of having only an equity partner tier; they introduced a salary partner tier in 2023. And to add to the mix, they’ve started hiring lateral partners, which was once a rarity at the firm. What’s more, some of their partners are now choosing to leave, which was previously almost unheard of.
As reported by Reuters, these departures are becoming more common, as other law firms are willing to offer top-notch incentives to lure away top talent. In line with this trend, Cravath has recently seen two of its partners make the move to rival firms.
Even the most esteemed law firms are not immune to the changing dynamics of the legal industry. Freshfields and other Biglaw players are all navigating their own unique paths in this shifting legal landscape.
The Freshfields press release below –
Freshfields announced today that Sanjay Murti has joined the firm’s corporate department in New York, expanding the firm’s US M&A capabilities.
>> The New Pay Scale at Cravaths
Sanjay’s practice focuses on mergers and acquisitions, shareholder activism defense, corporate governance and general corporate matters spanning many industries. He has worked on numerous M&A transactions, including high-profile sales and acquisitions of publicly traded companies, acquisitions and sales of private companies, carve-out divestitures and spin-offs, joint ventures and other strategic partnerships. He also routinely advises public companies on corporate governance and shareholder activism defense.
“Sanjay is a true legal talent,” said Freshfields’ Co-Head of US M&A Damien Zoubek. “He has an amazing combination of exceptional technical skill, great instincts, impeccable judgment and great client touch. I’ve seen first-hand Sanjay’s experience with complex, high-profile M&A transactions and I’m thrilled that he’s chosen to join Freshfields to complement our strong and growing M&A team.”
Sanjay added: “I am excited to be joining Freshfields and their M&A team at a time of such momentum and strategic focus for the firm. They have truly established themselves as a top tier destination practice, and it is the ideal place for me to grow my practice.”
Sanjay joins a team ranked the number one cross-border M&A legal advisor for 2023 by value in the year-end Bloomberg league tables. Bloomberg also ranked Freshfields eighth in the US for deal value with deals totaling $194.8 billion and in the top 10 for US announced M&A representing principals. Major deals led by our US M&A team in 2023 included Coupa’s $8 billion sale to Thoma Bravo, the Independent Directors Committee in its $12.5 billion sale of Qualtrics (also one of the largest PE buyouts of the year), Roivant on its $7.1 billion sale of Telavant to Roche; and AstraZeneca on its $1.1 billion Icosavax acquisition and $1.2 billion Gracell acquisition.
ENDS
About Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer is a global law firm with a long-standing track record of successfully supporting the world’s leading national and multinational corporations, financial institutions and governments on groundbreaking and business-critical mandates. Our 2,800-plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multinational expertise, and business know-how means our clients rely on us when it matters most.
Freshfields is ranked by Chambers Global in Band 1 across the six areas of antitrust, corporate/M&A, litigation, international arbitration, tax, and public international law. For more information visit our home page.
