A New Era of Big Law: Loyalty, Lateral Moves, and the High Stakes of Political Pressure

A recent New York Times article, “Why Big Law Firms Aren’t Standing Together Against Trump’s Assault,” explores how the increasingly competitive market for legal talent is reshaping the industry - and influencing how firms respond to external pressures, including those from the political sphere.

As the piece explores, law firms that once emphasized institutional loyalty are now increasingly shaped by a "free agent" model. Transactional lawyers, especially those with strong ties to major private equity clients, have become some of the most sought-after players in this ongoing arms race.

Jon Truster, Partner in our New York office, is quoted in the article, speaking to one of the industry’s biggest inflection points:

“Kirkland was willing to take big swings knowing that not all of them would work out, but most of them did.”

His insight underscores how aggressive lateral hiring - once considered a bold new tactic - is now standard practice among the most profitable firms. What began as a commercial success has since created a new dynamic where talent is mobile, clients follow individual lawyers, and the bonds that once held firms together have become more fragile.

The article draws a striking line from this transformation to the current climate, where firms face executive orders, client pressure, and the challenge of aligning profit-driven business models with the traditional values of the profession. As elite transactional practices continue to grow - and partners remain acutely aware of their market value - law firm leaders must now manage not only competitive risk, but political vulnerability too.

Read the full article by Noah Scheiber for The New York Times here. Please note: A subscription may be required to access the full article.

For more insights connect with Jon Truster or reach out to our team at Macrae.