Simpson Thacher joins Kirkland and Paul Weiss in ending financial disclosures

Simpson Thacher has become the latest firm to stop sharing its financial data with The American Lawyer, the publication behind the benchmark Am Law rankings.

The private equity heavyweight told the publication of its decision on Tuesday, according to the Financial Times, saying financial metrics offer a limited picture of the firm and the value it delivers to clients.

Simpson Thacher ranked 10th in the 2026 Am Law rankings, reporting revenue of $3.55 billion for 2025, a 23% increase on the previous year, and profit per equity partner of $8.5 million.

Its rationale echoes that of Kirkland & Ellis, which said financial disclosures no longer provided “meaningful value” to clients when it announced its own withdrawal last month.

Kirkland topped the 2026 rankings with revenue of $10.5 billion. Paul Weiss, which placed 13th with revenue of $3.3 billion, has also stopped sharing data with the media.

End of an era?

These decisions are not without precedent. Slaughter and May, Freshfields and Wachtell are among the firms that do not supply financial data, leaving The American Lawyer to estimate their figures.

Even so, the withdrawal of several leading firms, including the world’s highest-grossing law firm, marks a significant shift. It is too early to tell whether others will follow, but a growing reliance on estimates could make comparisons less straightforward and raise questions about how fully the rankings, which have served as an industry bellwether since 1985, capture the market they seek to measure.

Simpson Thacher’s recent London hiring suggests its profitability remains a strong draw for lateral talent. Its recruitment from Weil includes London finance head Tom Richards and fellow finance partners, alongside secondaries specialists Simon Saitowitz and Charles Cooper-Isow.

The firm did not respond to a request for comment by the time of publication.