Firm Profiles
IN-DEPTH RESEARCH REPORT
on Cahill Gordon & Reindel LLP
- - Financial Information
- - Compensation
- - Billing Rates
- - Lateral Partner Moves
- - Pro bono
- - Key Contacts
Cahill Gordon & Reindel
- Designation: New York
- Head Count: 303
- Gross Revenues: $348,500,000
- Revenue Per Lawyer: $1,150,000
- Profits Per Partner: $3,555,000
- Year Over Year Change: 2
Cahill has always been something of an oddity among the largest law firms. It has never been among the leaders—or even close to them—on gross revenue; indeed, the firm fell off The Am Law 100 list for a couple of years during the recession. It has never had large rosters of lawyers or a network of far–flung offices (there are just three: the New York base, London, and Washington, D.C.). It has a partnership that numbers well under 100. Yet only a handful of firms can match Cahill on profitability. Indeed, it’s one of an elite group of firms to cross the $2 million mark on profits per partner, a figure it maintained even during the downturn. And average compensation per partner regularly ranks among the top ten, and sometimes the top five.
Cahill, which was founded in 1919, is no stranger to the ups and downs of the financial markets. After developing one of the premier leveraged finance practices in the 1980s, Cahill saw its largest banking client, Drexel Burnham Lambert, implode in 1990. But the practice continued to grow; Cahill boasts one of the most active high–yield debt operations in the nation. But it suffers with the broader economy, taking a hit during the post–Lehman Brothers–bust only to return by 2010 when the firm rejoined The Am Law 100 with a big revenue jump.
The firm also has a well–regarded litigation department—John Cahill was the U.S. Attorney for the Southern District of New York in the 1940s. It may be best known for its First Amendment and media law practice led by Floyd Abrams. He represented The New York Times in the 1971 Pentagon Papers case, and more recently, argued before the U.S. Supreme Court on the constitutionality of the McCain–Feingold campaign finance regulations.
Cahill scores middle–of–the–pack numbers on pro bono work, placing 114th of 200 firms in The American Lawyer’s 2011 survey. Attorneys averaged 40 hours of pro bono work, but less than a quarter of the firm lawyers put in more than 20 hours. Diversity, too, is no showstopper: Cahill ranked 106th of 194 firms on our 2011 scorecard, with barely 6 percent of the U.S. partnership composed of minorities. The firm has been more successful, however, in keeping its junior lawyers happy: Cahill placed near the top third of firms in The American Lawyer’s 2011 Midlevels Associates Survey.
—Updated as of 1/1/12
Firm Rankings
| Survey | Rank | Year Over Year Change | Description |
|---|---|---|---|
| Am Law 100 | 84 | 2 | Gross revenue |
| Am Law 200 | 84 | 2 | Gross revenue |
| NLJ 250 | 150 | 5 | Lawyer head count |
| The A-List | NR | N/A | Overall excellence |
| Pro Bono Scorecard | 114 | 24 | Pro-bono commitment |
| Diversity Scorecard | 124 | 18 | Minority head count |
| Midlevel Associates Survey | 43 | 65 | Job satisfaction |
| Summer Associates Survey | 97 | 10 | Summer programs |
In the News
S&P Takes Steps To Coordinate Litigation Over Mortgage Ratings
Amanda Bronstad : The National Law Journal : April 12, 2013
Standard & Poor's Financial Services LLC is attempting to coordinate consumer lawsuits filed in state courts by attorneys general in 17 states before a single federal judge.
S&P Moves to Coordinate Mortgage-Rating Litigation
Amanda Bronstad : The National Law Journal : April 11, 2013
Standard & Poor's Financial Services is attempting to coordinate consumer lawsuits filed in state courts by attorneys general in 17 states before a single federal judge.
Banks Topple Antitrust Claims in Private LIBOR Suits
David Bario : The Litigation Daily : April 1, 2013
Fraud Class Action Proceeds Against Bank Over Mortgage-Backed Securities
Jan Wolfe : The Litigation Daily : March 29, 2013
Southern District Judge Katherine Forrest ruled that the shareholder-plaintiffs adequately alleged two cognizable theories of fraud: that Deutsche Bank officials made a series of misleading misstatements, and that the bank engaged in a systematic scheme to defraud investors.
Suits to Watch
Julie Triedman, with Tom Coster : The American Lawyer : March 28, 2013
U.S. v. The McGraw-Hill Companies Inc.; Millennium Import v. Reed Smith; ACA Financial v. Goldman Sachs
Second Circuit Won't Revive 'Auction Rate Securities' Conspiracy Case
Elai Katz : New York Law Journal : March 22, 2013
In his Antitrust column, Elai Katz, a partner at Cahill Gordon & Reindell writes that other antitrust developments of note included a ruling by the U.S. Court of Appeals for the Ninth Circuit that plaintiffs who bought price-fixed goods outside the state could bring claims under California antitrust law because the alleged collusion took place in the state and the European Commission's decision to prohibit Ryanair's renewed proposal to acquire rival Irish airline Aer Lingus.
New Partners Yearbook 2013
: New Jersey Law Journal : March 8, 2013
The past year saw a continued resurgence in new partners at New Jersey firms, which, if not quite as robust as the year before, still held its own as an indicator that the firms are sanguine about expansion.
The Am Law 100, the Early Numbers: Stroock Sees Revenue Dip, Profits Inch Up
Brian Baxter : The Am Law Daily : March 6, 2013
Stroock & Stroock & Lavan saw gross revenue dip slightly in 2012 to $264 million, while profits per partner were almost flat at $1.2 million. The news comes as Stroock moves to let go of an undetermined number of secretaries in Los Angeles, Miami, and New York, even as the firm prepares to open a new office in Washington, D.C.
Kohn, Longtime Cahill Partner, Dies at 86
Christine Simmons : New York Law Journal : March 5, 2013
Immanuel "Ike" Kohn, who chaired Cahill Gordon & Reindel's executive committee for 15 years, establishing a "fiscally prudent" style that has remained with the firm, died yesterday from lung cancer.
The Am Law 100, the Early Numbers: After Flat 2011, Cahill Swings to All-Time Highs in Revenue and Profits
Amy Kolz : The Am Law Daily : February 26, 2013
In a sign that 2011's results were a mere blip in an otherwise steady upward climb in recent years, Cahill Gordon & Reindel hit new highs in both revenue and profits in 2012, according to The American Lawyer's reporting.
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- Buist Moore
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- Clayton Utz
- Cleary Gottlieb Steen & Hamilton
- Clifford Chance
- Cooley
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- Eversheds
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- Freshfields Bruckhaus Deringer
- Fried, Frank, Harris, Shriver & Jacobson
- Gunderson Dettmer Stough Villeneuve Franklin & Hachigian
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- Howrey
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- K&L Gates
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- Kirkland & Ellis
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- Linklaters
- Mallesons Stephen Jaques
- McKool Smith
- Minter Ellison
- Moore & Van Allen
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- Nelson Mullins Riley & Scarborough
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- Sonnenschein Nath & Rosenthal
- Stroock & Stroock & Lavan
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- White & Case
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- Womble Carlyle Sandridge & Rice
