Savitt’s move is notable even in an industry gripped by a transfer-market fren
y in recent years, where superstars are offered pay packages in excess of $20mn a year to jump ship. Such moves have largely applied to top M&A and private equity lawyers, who produce a large and growing fee pool that is more predictable than litigation work. Savitt’s move is the clearest sign yet of how far-reaching the talent battle has become, spreading to litigators and law firm leaders.
“It’s a sign that it’s a complete free market at all levels in the legal profession right now,” the law firm head said. Savitt’s departure is also the first instance of a de facto managing partner leaving for a rival Wall Street firm.
Source: The talent raid that shook New York’s most prestigious law firm