Sullivan & Cromwell

Sullivan & Cromwell is one of Wall Street’s oldest and most prestigious law firms, headquartered in New York and widely regarded as a pillar of the traditional US “white shoe” legal establishment.

Founded in 1879 by Algernon Sydney Sullivan and William Nelson Cromwell, the firm built its reputation advising the corporate titans that shaped Wall Street - think J.P. Morgan (the man himself), Goldman Sachs, and Ford, for whom it handled its $643 million share offering in 1956, the largest ever at the time. 

During the Great Depression, the firm became known for its work in shareholder derivative litigation, antitrust actions, federal income tax law and securities. Insolvency was another crucial area of work - William Nelson Cromwell garnered the moniker ‘the physician of Wall Street’ for devising his ‘Cromwell Plan’ to reorganise insolvent companies before the dawn of federal bankruptcy law.

Today, the firm comprises around 840 lawyers across Asia, Australia, Europe and the US, and is known for its preference in training generalist lawyers and its conservative culture.

It is best known for its M&A, litigation, banking, capital markets, restructuring, tax and white-collar investigations offerings, and is one of the world’s most profitable law firms despite its relatively modest size, with global revenue around the $2 billion mark.

Sullivan & Cromwell opened in London in 1972, with the office growing to be one of its most important outposts. While S&C has garnered a reputation for being conservative in style and growth strategy with its relative lack of appetite for lateral hires and cross-border mergers, the firm has recently begun pursuing a more assertive growth strategy in the City. 

In particular, it has been building out its private capital platform in London - a shift away from its traditional dominance in public M&A, litigation and financial services work.

The plan became especially clear at the end of 2025 when Sullivan & Cromwell launched a significant hiring push in London. The firm recruited a series of high-profile partners from rivals including Kirkland & Ellis, Paul Hastings and Weil, spanning private equity, leveraged finance, restructuring and tax.

The move marked a notable departure from the firm’s historically cautious approach to lateral hiring - suggesting that even one of Wall Street’s most traditional firms is willing to adapt as competition for high-end private capital work intensifies.

Other things to know

Private capital push: The London office is vying for a piece of the private equity pie through hiring a growing list of senior City partners like other Wall Street firms have done before them. Could this be Paul Weiss 2.0? 

Work from home office: Sullivan & Cromwell has reportedly mandated a return to 5 days in the London office and put an end to the hybrid work culture ignited by the pandemic.

‍Acting for the President: An S&C team led by firm co-chair Robert Giuffra is representing Donald Trump in appealing his felony convictions for falsifying business records to conceal “hush money” paid to adult actress Stormy Daniels.

What is Sullivan & Cromwell known for?

Sullivan & Cromwell is a full-service corporate law firm. In the London market, it is best known for:

M&A: The London practice is in step with the firm’s long history handling big-ticket, cross-border public M&A. The firm is ranked Band 4 in Chambers for its work on the biggest M&A deals.

Debt capital markets: The firm has a strong debt capital markets practice in London, advising both issuers and underwriters. It is ranked Band 3 in Chambers for this practice area.

Private equity: Sullivan & Cromwell is investing heavily into building a premier private equity practice, with several senior City figures already on board.

What's Chambers?

We use Chambers rankings to demonstrate a firm's strengths. Chambers is the most highly-regarded provider of law firm rankings in the legal industry. Law firms are ranked in bands from 1 (highest) to 6 (lowest) across a range of practice areas.

It's important to note that being ranked in any band at all is still considered a significant achievement.

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Who does Sullivan & Cromwell compete with?

In New York, Sullivan & Cromwell is traditionally considered to compete with fellow Wall Street litigation and M&A heavyweights including Wachtell, Cravath and Davis Polk.

In 2024, Sullivan & Cromwell's total revenue was $2.05 billion, according to Law.com / ALM.  

In 2024, its profit per equity partner (PEP) was $6.74 million, according to Law.com / ALM.

How much does a partner at Sullivan & Cromwell make?

In 2024, Sullivan & Cromwell’s average profit per equity partner (PEP) was $6.74 million, according to Law.com.

This is the total amount of profit available for distribution among equity partners, divided by the number of equity partners at the firm.

This represents the average amount that equity partners are entitled to. Some will receive significantly more, some less. It depends on the firm’s profit-sharing formula and each partner’s seniority.

How many trainees does Sullivan & Cromwell take?

Sullivan & Cromwell welcomed its first cohort of London trainees in 2013. The firm takes up to 12 trainees each year.