Law Firms

Cravath may soon have its first non-equity partner, if Mary Jo White is confirmed as SEC chair

Cravath, Swaine & Moore doesn’t have non-equity partners.

But that policy apparently may soon change, if Mary Jo White is confirmed as the new chairman of the Securities and Exchange Commission.

The Debevoise & Plimpton partner is married to corporate partner John White of Cravath. And, in a letter sent earlier this month to the SEC (PDF), she explains that the plan is for White to take non-equity status at Cravath once his wife is confirmed, in order to prevent any potential conflicts of interest, reports the Am Law Daily.

Another document provides some details about income and assets. A financial disclosure form (PDF) filed last week with the U.S. Office of Government Ethics says Mary Jo White made a little over $2.4 million as a Debevoise partner last year.

Related coverage: “For the first time, a former prosecutor is tapped to lead the SEC”

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