Skadden Arps Slate Meagher & Flom has reinstated Robert Sheehan as its firm-wide executive partner, handing the veteran lawyer a landmark third term at the helm of the US’ largest law firm.
Sheehan, who joined Skadden in 1969 before making partner in 1978, was given the five-year mandate at the 1,650-lawyer giant’s partner meeting in April. His new term became effective last month.
The firm is regarded as an innovator in terms of management as, unusually for a top New York firm, Skadden makes its top executive role a full-time management post.
"The executive partner needs to spend 100% of the time on administrative work as this is such a large firm," Sheehan told Legal Week.
The executive partner role is traditionally put up to a formal vote, but the firm dispensed with the election as Sheehan was regarded as the only credible candidate.
One Skadden partner commented: "Nobody wanted Bob to stand down — and he wanted to continue — so there was no need to have a vote. Bob is the epitome of consensus who is plugged into what the partners are thinking so has the ability to make things happen."
Sheehan has helped steer Skadden to the top tier of the Manhattan market since the firm’s first rise to serious national prominence in 1980s Wall Street, when it pioneered the then emerging field of contentious M&A.
His term has also been marked by an expansionary and international stance, a contrast to older ‘white shoe’ rivals, with Skadden in the past 10 years increasingly committed to investment in California and Europe.
One rival managing partner commented: "Bob is a strong, confident leader. The combination of his leadership with the firm’s overall strength has been a huge driving factor in Skadden’s success."
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Skadden Arps chief gets third term
Published: 24/06/2004 00:00
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