Cravath, Swaine & Moore LLP has significantly expanded its London office, tripling its partner headcount in just three years. The Wall Street firm now has 15 partners in the UK capital, up from just five in 2021, according to sources familiar with the matter.
Strategic Growth in London
The expansion marks a notable shift for the traditionally New York-centric firm, which has historically been cautious about international growth. Cravath's London office now represents a substantial portion of its global partnership, which totals around 150 partners worldwide.
The firm has been actively recruiting partners from rival firms, including several high-profile hires from magic circle and US firms in London. Recent additions include partners from Kirkland & Ellis, Latham & Watkins, and Slaughter and May, according to legal industry sources.
Key Hires and Practice Areas
The new partners span various practice areas, including M&A, private equity, and finance. Notable recent hires include corporate partner James A. Woolery, who joined from Kirkland & Ellis in 2022, and finance partner Philip Stopford, who arrived from Latham & Watkins in 2023.
"Cravath is making a serious commitment to London as a key hub for its international practice," said a London-based legal recruiter. "The firm is leveraging its brand to attract top talent from competitors."
Impact on the Legal Market
This expansion has intensified competition among elite US firms in London, where many are vying for market share. Cravath's move is seen as a response to the growing demand for cross-border M&A and private equity work, particularly in the tech and healthcare sectors.
The firm's London revenue has reportedly grown significantly, though exact figures are not disclosed. Cravath's overall revenue was $1.9 billion in 2023, according to The American Lawyer, with London contributing an increasing share.
Future Outlook
Legal industry analysts expect Cravath to continue its London expansion, potentially reaching 20 partners within the next year. The firm is also considering expanding its office space in the City, sources say.
"This is just the beginning," said a former Cravath partner now at a rival firm. "The firm is determined to become a major player in the London market."
