2020 Vault Rankings
At a Glance
“The people are as good as it gets.”
“Level of responsibility.”
“Little transparency into firm partnership and decisions.”
“The work is unpredictable.”
About Milbank LLP
Milbank LLP is one of the nation’s leading firms for corporate finance and restructuring, litigation, and project finance and is known for its international work and focus on the energy sector.
Milbank planted its roots in Wall Street more than 150 years ago as Anderson, Adams & Young. The firm’s first clients included American entrepreneurs, bankers, and railroad financiers, including the Vanderbilts and the Rockefellers. The firm weathered two World Wars, the Great Depression, and a long string of mergers before settling in as Milbank, Tweed, Hadley & McCloy in 1962. Today, the firm has 12 offices across the globe—including its new digs in Hudson Yards. The firm also rebranded in 2019, shedding the “Tweed, Hadley & McCloy” to become simply Milbank LLP.
Onward and Upward
Milbank is a giant in the corporate law space, with a stellar reputation among leading financial institutions and other corporate clients. The firm’s No. 1 spot in Vault’s Project Finance ranking is just the beginning—Milbank is also among the top 20 firms for Banking & Financial Services, Securities/Capital Markets, General Corporate Practice, and M&A.
Milbank’s financial restructuring group has consistently ranked as one of the preeminent practices and leaders in its field. The team is often called into action to represent creditors and other key stakeholders in complicated restructurings, including Puerto Rico, Gymboree, J. Crew, Pacific Gas & Electric, and Caesar’s Entertainment. The firm also advises major hedge funds and private equity firms on complex M&A transactions involving swapping debt for equity to de-stress companies in distress.
Given the firm’s corporate prowess, it is no surprise that it is home to strong securities litigation and white collar defense groups. Among the firm’s ranks are former SEC attorneys (including its former head of enforcement), the former chief of the Securities and Commodities Fraud Task Force at the U.S. Attorney’s Office for the SDNY, and seven former Assistant U.S. Attorneys.
Milbank also has a highly regarded Global Projects, Energy, and Infrastructure practice. The firm has a hand in bringing a range of infrastructure projects to life, from financing for airports and roads to ports and pipelines. On the energy side, the firm works with some of America’s most ambitious offshore wind projects and ethanol producers, while keeping a foothold in fossil fuel and metals projects.
Ivy League Training
Milbank’s training programs are truly Ivy League. For one week each year, the firm’s third-year through seventh-year associates head to Cambridge to be schooled Harvard style on topics ranging from management skills to business to client relations through the firm’s program Milbank@Harvard. The program is taught by professors from Harvard’s Law and Business schools, with Milbank partners offering real-world examples and anecdotes.
The firm’s training isn’t limited to the ivory tower, though. On the home front, litigation associates participate in a multiple-year training program called Advocacy@Milbank, while transactional associates take part in Deals@Milbank.
News & Awards
With its move in early 2019 to New York’s Hudson Yards, Milbank seized the opportunity to customize a headquarters for its lawyers, with light-filled offices and collaborative spaces, river- and city-facing terraces where lawyers enjoy coffee from the firm’s own barista bar, an in-building health clinic and more. Crain’s New York Business named Milbank’s HQ among the finalists for its “Coolest Offices” in the city for 2019. Aligning its values with its new environs, the firm established a long-term volunteer program at the city’s largest soup kitchen, just blocks away.
Milbank launched a 2020 Presidential Candidate Town Hall Series, a non-partisan event inviting candidates from all parties to visit the firm. During the first half of the year, Senators Cory Booker and Kirstin Gillibrand, Governor John Hickenlooper, Congressman Eric Swalwell, and former HUD Secretary Julián Castro addressed the firm’s lawyers, with additional political luminaries slated to appear in coming months.
Reflecting the firm’s pro bono commitment to young people, Milbank ramped up its pro bono advocacy for immigrants – especially vulnerable children and teens—seeking asylum in the US. The firm filed a FOIA complaint with Asian Americans Advancing Justice-Los Angeles to learn about the legal basis for U.S. Citizenship and Immigration Services’ policy, and continued to represent asylum seekers with Kids in Need of Defense and other organizations.
The firm’s Executive Committee elected partner Stacey Rappaport to its ranks. A well-known litigator with a powerful practice, Rappaport is a leader in advocating for other women attorneys, both within the firm (she founded the Women’s Initiative Committee) and outside of it (she is on the board of the Center for WorkLife Law at University of California at Hastings as well as other non-profits, and fights for women through her pro bono work).
- Advised on $60 billion in finance transactions, including representing debt financing sources for The Carlyle Group and GIC’s €10.1B acquisition of AkzoNobel Specialty Chemicals.
- Advised on the complex acquisition and financing of the Mexican power generation facility, Norte III.
- Selected as legal counsel to the Official Committee of Unsecured Creditors in the PG&E bankruptcy, one of the most widely anticipated chapter 11 cases of the year.
- Advising the special committee of the board of San Francisco startup microbiome-testing company uBiome following an FBI investigation. The matter is being led by Milbank partner George Canellos, former co-director of the SEC’s Division of Enforcement.
- Finalist: Litigation Department of the Year - 2018 (New York Law Journal)
- #6: Mid-Level Associate Satisfaction Survey - 2018 (The American Lawyer)
- Best International Firm for Work Life Balance—3 years in a row, 2019 (Euromoney Women in Business Law Awards)
- “Financial Restructuring Team of the Year” and “Finance Team of the Year,” (Transatlantic Legal Awards 2019)
- Top International Counsel in Latin America, Project Finance, 2018 (Chambers Latin America)
55 Hudson Yards
New York, NY 10001
Phone: (212) 530-5000
Chairman: Scott A. Edelman
Hiring Partners: Roland Estevez, Lauren A. Hanrahan, Tyson Lomazow, Grant Mainland, Atara Miller, Rod Miller, Eschi Rahimi-Laridjani (NY); Dara Panahy (DC); Tim Wendling (LA)
Total No. Attorneys 2019:
500 - 750
1st year: $190,000
2nd year: $200,000
3rd year: $220,000
4th year: $255,000
5th year: $280,000
6th year: $305,000
7th year: $325,000
8th year: $340,000
Summer associate: $3,654/week
Summer Associate Offers:
59 out of 59 (2Ls) (2018)
No. of Summer Associates:
61 total (59 2Ls; 2 1Ls) (2018)
New York, NY (HQ)
Los Angeles, CA
Litigation & Arbitration
Trusts & Estates and Exempt Organizations
*See firm website for complete list of practice areas and industries.