The Formation of McDermott Will & Schulte: A New Era in Legal Services

Introduction

On August 1, the legal landscape witnessed a significant transformation with the successful merger of two top law firms—McDermott Will & Emery and Schulte Roth & Zabel. This new entity, named McDermott Will & Schulte, aims to redefine excellence in legal services by combining their expertise and resources to serve clients across the globe.

A Powerful Coalition

The newly formed firm boasts a formidable structure with more than 1,750 attorneys positioned in over 20 offices worldwide. With a revenue stream of $3 billion, McDermott Will & Schulte is not just a continuation but a significant elevation of the legal capabilities offered by its predecessor firms. The merger blends McDermott's expertise in areas such as healthcare, litigation, and regulatory matters with Schulte's renowned capabilities in private capital.

This merger is historic—not only for its scale but for the speed and success in which it has been executed. This unique union comes at a time when businesses require agile, forward-thinking legal strategies to navigate the complexities of today's market environments.

Leadership Vision

Both legacy firms have committed to a shared vision in fostering innovation and ensuring client satisfaction. Ira Coleman, the Chairman of McDermott Will & Schulte, emphasized that their merger establishes a new benchmark for excellence in the legal profession. The firm is dedicated to breaking away from traditional models, prioritizing a people-first culture while striving to deliver unparalleled value to clients.

Co-Managing Partners of Schulte Roth & Zabel, Marc Elovitz and David Efron, noted that their strategic approach has always embraced innovation, and joining forces with McDermott enhances their ability to provide cutting-edge solutions to clients. They aim to disrupt existing paradigms of legal partnership and raise client expectations significantly.

Client-Centric Approach

At the heart of McDermott Will & Schulte is a commitment to deliver tailored solutions that meet the diverse needs of clients. Whether in healthcare, tax, or private client services, the firm intends to leverage its global reach and deep industry expertise to offer insightful, data-driven legal advice. The firm is well-positioned to act not only as an advisor but as an essential partner for organizations navigating intricate legal landscapes.

Future Prospects

As McDermott Will & Schulte moves forward, it intends to be a pioneer in addressing emerging legal challenges while holding steadfast to its core values of excellence and innovation. The extensive integration of resources and talent from both firms is expected to equip the new alliance with the agility required to adapt to the rapidly evolving market conditions.

Leading organizations are increasingly recognizing the importance of informed legal counsel as they pursue growth in a challenging environment. McDermott Will & Schulte's expansive platform allows them to respond effectively to various client demands across multiple sectors.

Conclusion

In conclusion, the formation of McDermott Will & Schulte signifies a powerful new force in the legal industry. By merging the strengths and capabilities of its founding firms, McDermott Will Schulte is not only equipped to meet today’s legal challenges but is also poised to redefine what clients can expect from their legal partners. This merger represents a bold step into the future of legal services, one that promises to deliver unmatched value and performance for clients across the globe.