Cleary appoints Michael Gerstenzang as managing partner
Cleary Gottlieb Steen & Hamilton. He has been a partner at Cleary since 1999, and will replace Mark Leddy, who spent 5 years as managing partner.
Since joining Cleary 24 years ago, Gerstenzang has specialized in advising clients such as Blackstone, KKR, TPG, and The Raine Group. Growth at Cleary under Leddy’s leadership has fallen short of other Wall Street firms, as revenue fell 3% in 2015 to $1.21bn while profit per equity partner dropped 5% to $3.08m.