The merger will unite more than 1,750 lawyers across 23 offices globally, bringing together McDermott’s broad international practice and Schulte’s deep bench in private capital, investment management, and regulatory work. The combined firm will rank among the largest in the world by headcount and revenue, with estimated annual earnings approaching $2 billion.
According to statements from both firms, the merger is designed to strengthen their market position in high-value transactional, regulatory, and litigation practices. McDermott’s strengths in healthcare, tax, and global compliance will be complemented by Schulte’s recognized expertise in hedge funds, private equity, and financial regulation.
The merger was the result of months of due diligence, negotiations, and internal reviews. While discussions were first reported in May 2025, the formal partner vote, a crucial step in any law firm consolidation, has now sealed the deal. Industry observers note that partner approval is a critical hurdle in law firm mergers, and the unanimous or strong majority vote suggests widespread support internally.
In a joint statement, leaders from both firms expressed enthusiasm for the merger. “This combination is about growth, synergy, and delivering even more value to our clients,” said Ira Coleman, Chairman of McDermott Will & Emery. “Together with Schulte, we can better serve clients across sectors with unmatched legal insight and geographic reach.”
Marc Elovitz, co-managing partner at Schulte, echoed those sentiments, saying, “We are excited to join forces with McDermott. Our shared values, client focus, and complementary practices make this a natural and powerful fit.”
The merger also highlights the increasing consolidation trend in the legal sector, as firms seek scale and global reach to serve complex client needs. It follows closely behind other notable combinations, such as Herbert Smith Freehills’ merger with Kramer Levin, announced earlier in June 2025.
Analysts expect the newly formed McDermott Will & Schulte to be a formidable player in global legal markets, particularly in private capital, life sciences, intellectual property, and cross-border M&A.
