The legal landscape for banking and finance in the United States continues to show a concentration of top-tier firms, according to recent rankings. Several firms have maintained their positions as leaders in this complex and highly regulated field, while others are making notable gains.
Davis Polk & Wardwell LLP remains at the top, holding the ‘Band 1’ ranking for an impressive 36 years, as assessed by Chambers Rankings. Latham & Watkins LLP and Paul Hastings LLP follow closely behind, also maintaining ‘Band 1’ status with 24 and 23 years of recognition respectively. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Simpson Thacher & Bartlett LLP round out the top five in this tier, demonstrating consistent excellence in banking and finance law, with 14 and 30 years of rankings respectively. Cahill Gordon & Reindel LLP and Kirkland & Ellis also hold ‘Band 1’ rankings.
These rankings, compiled by Chambers Rankings, are based on recommendations from in-house counsel, third-party experts, and private practice lawyers, highlighting the firms most frequently sought after for complex financial transactions and regulatory guidance. The comprehensive research undertaken by Chambers Rankings aims to provide clients with the information needed to select legal services effectively.
Moving to ‘Band 2’, Cravath, Swaine & Moore LLP, Debevoise & Plimpton LLP, Milbank LLP, Ropes & Gray LLP, Weil, Gotshal & Manges LLP, and White & Case LLP all receive high marks. Notably, Milbank LLP has been consistently ranked for 29 years, and White & Case for 33 years, indicating a long-standing reputation within the industry. These firms are frequently involved in large-scale mergers, acquisitions, and other significant financial deals.
‘Band 3’ features A&O Shearman, Proskauer Rose LLP, Sidley Austin LLP, and Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates. A&O Shearman boasts an impressive 41 years of ranking, demonstrating enduring strength in the banking and finance sector. Skadden, Arps, with 32 years of ranking, is also a consistent performer.
The competitive landscape extends to ‘Band 4’, where Cleary Gottlieb Steen & Hamilton LLP, Fried, Frank, Harris, Shriver & Jacobson LLP, Gibson, Dunn & Crutcher LLP, Goodwin Procter LLP, Katten, King & Spalding LLP, Mayer Brown LLP, Morgan, Lewis & Bockius LLP, and Sullivan & Cromwell LLP are recognized. Cleary Gottlieb, with 36 years of ranking, and Mayer Brown, with 29 years, showcase sustained success. Goodwin Procter, however, is a relative newcomer to this band, having been ranked for only 4 years, suggesting a recent rise in prominence.
Finally, ‘Band 5’ includes Alston & Bird LLP, Dechert LLP, Greenberg Traurig, LLP, Holland & Knight LLP, Jones Day, Moore & Van Allen, PLLC, Morrison Foerster, Vinson & Elkins LLP, and Wachtell, Lipton, Rosen & Katz. Alston & Bird and Wachtell, Lipton, Rosen & Katz are the newest additions to the rankings, with only 1 and 2 years of recognition respectively, indicating emerging players in the field.
Beyond the Chambers Rankings, other firms are also receiving recognition. Christian & Small LLP, based in Birmingham, Alabama, has been recognized by Best Law Firms® in 2026, receiving a National Award and 40 Regional Awards. The firm serves a diverse clientele, including individuals and companies of all sizes, and provides innovative legal services with a focus on understanding its clients’ businesses. Greer B. Mallette serves as managing partner.
Jackson Walker also earned significant recognition, receiving 27 National and 142 Metropolitan Rankings in the 2026 edition of “Best Law Firms.”
The consistent presence of established firms like Davis Polk, Latham & Watkins, and Skadden, Arps, alongside the rise of firms like Goodwin Procter and the recognition of regional players like Christian & Small and Jackson Walker, illustrates a dynamic legal market. The demand for specialized expertise in banking and finance law remains high, driven by ongoing regulatory changes, complex financial transactions, and the evolving needs of businesses operating in a globalized economy. The rankings provide a valuable resource for companies seeking legal counsel in these areas, offering insights into the strengths and reputations of leading firms.
The rankings also reflect the geographic distribution of legal expertise. While firms based in New York and Washington D.C. Dominate the top tiers, firms like Christian & Small demonstrate the growing importance of regional legal centers in serving the needs of businesses across the United States. This trend suggests a broadening of access to specialized legal services and a more competitive landscape for firms seeking to attract and retain top talent.
