Profitable to Work for Government - Eventually

 "Cravath Swaine & Moore is opening a new office in Washington, anchored by the former heads of the U.S. Securities and Exchange Commission and Federal Deposit Insurance Corporation." - Bloomberg Law, June 6, 2022.

This is yet another example of The Revolving Door. It is smart to recruit former government players. They understand how the US government thinks and behaves. Paul Weiss recruited former US Attorney General Loretta Lynch. She has been a busy bee on multiple accounts, ranging from Amazon to McDonald's USA. 

The new members of the Cravath team, who will be partners, are:

  • Jelena McWilliams, former FDIC Chairman
  • Elad Roisman, former Commissioner and Acting Chairman of the SEC
  • Jennifer S. Leete, former Associate Director in the SEC’s Division of Enforcement.

The DC office, Cravath's third - the other two are in New York City and London - will open in the fall.

Recently, Cravath had lost high-profile partners to Davis Polk, Sidley Austin, and Freshfields. Simultaneously it has modified its lockstep compensation system. This new initiative could restore some luster to its brand. The legal media outlets make it its business to cover in detail that poaching. Like all professional services, law firms operate on star power. The lateral game is brutal. 

Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com. She helps businesses conjure up magic in their storytelling. One client said, "She makes shipping containers ‘sexy.’"

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