Sullivan & Cromwell LLP

Sullivan & Cromwell LLP Company Profile

A BigLaw powerhouse, Sullivan & Cromwell has been ranked in the AmLaw 100 since the rankings began in the 1980s and is a regular player on The American Lawyer's elite A-List. The firm is well-thought of among the greenhorns as well as the old-timers-it consistently appears at the top of associate polls for the draw of big-money clients and its generous benefits.

S&C has followed-if not created-the blueprint for legal success: it has grown internationally and in response to the increasing crossborder M&A, restructuring and finance transactional demands of the biggest corporate clients in the world.

The Picture of Consistency

Sullivan & Cromwell has consistently steered the development of many of the world's corporate titans over the past 130-plus years. Founding fathers Algernon Sydney Sullivan and William Nelson Cromwell wasted no time in elevating the firm to elite status, advising J.P. Morgan-as in the man himself-during the creation of Edison General Electric in 1882 and later guiding key players in the formation of U.S. Steel and the financing of the Panama Canal.

During the 1950s, S&C's litigation group successfully defended five of the largest investment banking firms in the nation against antitrust charges filed by the federal government. Meanwhile, the general practice group dealt with the complexities of increasingly large public stock offerings, handling Ford Motor Co.'s $643 million IPO in 1956, the largest ever at that time. S&C reopened its Paris office-closed during World War II-in 1962 and opened a London office in 1972. The firm picked up its international pursuits again in the 1980s and hasn't slowed since, opening offices in Asia, Australia and Europe, and becoming one of the preeminent M&A shops on the planet along the way.

After the Deluge

The firm's financial institutions, restructuring and litigation groups played a central role in dealing with the subprime and financial implosions in 2007 and 2008. Throughout the crisis, S&C maintained its compensation levels for associates and did not engage in a program of layoffs, defer incoming associate classes or shorten its summer program.

Under the magisterial guidance of senior chairman H. Rodgin Cohen, S&C seized upon the transactional wreckage of 2008 to build its reputation as, in the words of The American Lawyer, "the go-to firm for the financial services industry." After the storm cleared, its global reach served the firm well as it continued to build on its trans-Atlantic finance, restructuring, and M&A work.

In March 2008, S&C advised on the sale of Bear Stearns to JPMorgan Chase and represented no less than seven financial firms as the crisis unfolded. S&C advised Fannie Mae during its government takeover; helped Barclays PLC acquire Lehman Brothers' North American banking and capital markets assets; represented AIG during its federal bailout; guided both Goldman Sachs and American Express as they morphed from investment banks into bank holding companies; walked JPMorgan through its $1.9 billion purchase of a bankrupt Washington Mutual; represented Wachovia in its merger with Wells Fargo; and took UBS through one of the largest-ever global rights offerings. Oh, and let's not forget the follow-on work for TARP, TARP repayment and the firm's advising on Dodd-Frank and Basel III regulations. Got that? Good.

S&C also provided critical advice to the largest global banks on the litigation and enforcement matters that dominated the press during the crisis. The firm represented JPMorgan in numerous actions related to its acquisition of Washington Mutual, involving some $14 billion in disputes and a successful trial in bankruptcy court; represented 11 financial institutions in their challenge to the $5 billion restructuring of MBIA Insurance; and advised numerous financial institutions on litigation related to the Madoff Ponzi scheme.

Focus on Diversity

S&C has tasked its Diversity Committee with improving the effectiveness of programs to attract, mentor, retain and assist in the advancement of women and diverse lawyers. And it seems to be working-as of January 2012, of the forty-four partners elected worldwide in the prior six years, fifteen are women, eleven are minorities, and two are openly gay.

IN THE NEWS

April 2014

Control, Alt, Win
After nine years of litigation-including an eight-week trial in 2011 in which Bill Gates testified-S&C client Microsoft Corporation obtained a total victory after the U.S. Supreme Court denied Novell, Inc.'s petition for a writ of certiorari in the antitrust case it brought against Microsoft. Novell, which sought roughly $4 billion in damages, alleged that Microsoft had violated the Sherman Act by withdrawing technical support for programming interfaces included in a pre-release version of Windows 95. In denying Novell's cert petition, the Supreme Court upheld the unanimous Tenth Circuit panel which stated in September 2013 that "it is clear to us, as it was to the district court, that Microsoft's conduct does not qualify as anticompetitive behavior."

January 2014

Grab a Cold One-or 5.8 Billion of Them
S&C client-and world's largest brewer-Anheuser-Busch InBev entered into an agreement to reacquire Oriental Brewery (OB), the leading brewer in South Korea, from private equity firms KKR & Co. and Affinity Equity Partners for a purchase price of $5.8 billion. This is the largest in-bound M&A deal in Korea in history, the largest private equity deal in Korea in history and the largest M&A deal in Asia in 2014.

Fasten your Seatbelts
S&C has represented Italian automaker Fiat in its strategic alliance with Chrysler since the U.S. government led the restructuring of the U.S. auto industry in 2009. In the spring of 2009, S&C guided Fiat through a number of novel transactions that enabled Fiat to take a 58.5 percent interest in Chrysler by 2013. In early 2014, S&C represented Fiat in its acquisition of the remaining 41.5 percent stake that it did not already own. The acquisition is facilitating the creation of Fiat Chrysler Automobiles (FCA), the world's seventh-largest automaker; the re-entry of Fiat and Alfa Romeo vehicles to the North American market after a 25-year absence; and the expansion of the Jeep brand to Europe, Latin America and Asia.

July 2013

Pro Bono Protection
After a trial conducted over the course of nine months and consisting of four trial days, Judge David Gilman of the Bronx Family Court granted S&C's pro bono client a final order of protection for a period of two years against her estranged boyfriend. Judge Gilman found by a preponderance of the evidence that the client's boyfriend committed five family law offenses: menacing, disorderly conduct, harassment, aggravated harassment and stalking. The final order, which supersedes a temporary order of protection that the team had previously obtained for the client, provided the full scope of relief requested by the S&C team.

February 2013

Class Dismissed
After suffering write-downs of $50 billion of its positions in mortgage-backed securities during the financial crisis, global financial services giant UBS retained S&C to represent it in response to investigations by the SEC, the DOJ and foreign regulators, as well as in a massive putative class action suit. S&C successfully resolved all of these investigations, including obtaining the SEC's formal termination, without taking any action, of its lengthy investigation of UBS's subprime disclosures and valuations. S&C also successfully obtained the dismissal of plaintiffs' claims in the class action suit.

2012-2013

Panama, Colombia, Chile y Más
Since 2012, Sullivan & Cromwell's Latin America Group has represented Spanish bank Banco Bilbao Vizcaya Argentaria S.A. (BBVA) in a series of major transactions, including the $630 million sale of its Panamanian unit to a subsidiary of Grupo Aval, the Colombian financial conglomerate; the $516 million sale of its Peruvian pension unit to Grupo Sura and The Bank of Nova Scotia; the $2 billion sale of its Chilean pension fund administrator, AFP Provida, to MetLife, Inc.; and the $541 million sale of its Colombian pension fund administrator, Horizonte, to pension fund manager AFP Porvenir and Grupo Aval.

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Sullivan & Cromwell LLP


125 Broad Street
New York, NY 10004
Phone: (212) 558-4000
www.sullcrom.com

STATS


  • Employer Type: Private
  • Chairman: Joseph C. Shenker
  • Senior Chairman: H. Rodgin Cohen
  • Hiring Partner: Sergio J. Galvis
  • Total No. Attorneys 2014: 836

  • Employment Contact

    Milana L. Hogan
    Director of Legal Recruiting & Professional Development
    Phone: (212) 558-7944
    E-mail: hoganm@sullcrom.com


  • Base Salary

    All US offices
    1st year: $160,000
    2nd year: $170,000
    3rd year: $185,000
    4th year: $210,000
    5th year: $230,000
    6th year: $250,000
    7th year: $270,000
    8th year: $290,000
    Summer associate: $3,077/week*

    *Paid at the annual rate of $160,000 prorated according to the time spent at the firm and the days worked during the month, on a semi-monthly basis.


  • Summer Associate Offers

    122 out of 123 (2013)


  • Major Departments & Practices

    Antitrust
    Appellate
    Arbitration
    Banking
    Broker-Dealer Regulation
    Clean Technology & Alternative Energy
    Commodities, Futures & Derivatives
    Congressional Investigations
    Corporate Governance
    Credit & Leveraged Finance
    Criminal Defense & Investigations
    EC Competition
    Environmental
    Estates and Personal
    Estates Litigation
    Executive Compensation & Benefits
    Financial Institutions
    Healthcare and Life Sciences
    Hedge Funds
    High-Yield Debt
    Infrastructure Projects
    Insurance
    Intellectual Property & Technology
    International Trade & Investment/CFIUS
    Investment Management
    Labor & Employment Litigation
    Litigation
    Mergers & Acquisitions
    Private Equity
    Privatizations
    Products Liability
    Project Development & Finance
    Real Estate
    Restructuring & Bankruptcy
    Securities
    Securities Litigation
    Structured Finance
    Tax

Major Office Locations

  • New York, NY (HQ)
  • Los Angeles, CA
  • Palo Alto, CA
  • Washington, DC
  • Beijing
  • Frankfurt
  • Hong Kong
  • London
  • Melbourne
  • Paris
  • Sydney
  • Tokyo
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