The road to equity partner keeps narrowing, and Foley raids Sidley

The road to equity partner keeps getting narrower. Bloomberg Law says the biggest firms barely grew their equity ranks last year while non-equity partners climbed five percent, as more of the profit gets steered to the top rainmakers. The lateral market kept moving too. Foley pulled two benefits partners out of Sidley in Chicago, Akin added in private equity in Dallas, King and Spalding brought on a former DOJ lawyer for litigation in New York, Skadden added a former OCC official in Washington, and Nelson Mullins picked up a former DOJ lawyer in Cleveland.

On the deal side, Davis Polk, Ropes and Gray, and Sidley are all advising on GSK's ten point six billion dollar buy of Nuvalent.