Wall Street law firm Cravath Swaine & Moore is promoting eight lawyers to its partnership, which shifted this year to abandon its strict lock-step compensation model and also is poised to include a second US office outside of New York for the first time.
Seven of the eight lawyers are members of Cravath’s corporate department, which has for decades been known as a leading group for major mergers and acquisitions. The lawyers will officially join the partnership in the New Year.
The new corporate department partners are: Jin-Kyu Baek, Kimberley Drexler, Maurio Fiore, Christopher Kelly, Ryan Patrone, Claudia Ricciardi and Kelly Smercina.
Michael Zaken is the litigator joining the partnership.
The lawyers will be the second group to join Cravath’s storied partnership after it last December announced it would ditch its strict lock-step compensation model. The move came after other law firms dangled huge pay packages to recruit young, promising Cravath lawyers to their firms.
The firm is also poised to open a Washington office, its first outside of New York. The firm has hired the former heads of the Securities and Exchange Commission and Federal Deposit Insurance Corporation to lead that office.
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