Mark Weinraub

6 days ago | chicagobusiness.com | Mark Weinraub

McDermott Will & Emery, the sixth biggest law firm in Chicago, is holding merger talks with Schulte Roth & Zabel, a New York-based firm focused on private capital. The deal is expected to close “in the coming months,” the firms said. “When complete, this will mark one of the most strategic and high-performing legal combinations in the industry’s history,” according to a statement released today by the firms.

6 days ago | chicagobusiness.com | Mark Weinraub

The chief financial officer of a personal injury law firm accused of stealing money from family members of victims of a 2018 plane crash has reached a plea deal with Chicago prosecutors after being sentenced to prison on related charges in California.

6 days ago | chicagobusiness.com | Mark Weinraub

Northern Trust promoted two executives to lead its asset management team and oversee the investment performance, process and philosophy of the division, which had $1.3 trillion in assets under management as of March 31. Michael Hunstad, currently head of global equities for the team, and Christian Roth, chief investment officer of global fixed income, will serve as co-chief investment officers of Northern Trust Asset Management, effective June 1, according to a news release today from the bank.

1 week ago | chicagobusiness.com | Mark Weinraub

Capital One is getting a cleaner and leaner Discover Financial Services than the one it agreed to buy 15 months ago as the Riverwoods-based company spent much of the intervening time resolving the issues that made it ripe for sale in the first place. As the firms move toward a May 18 closure date, the Discover brand — which analysts said was largely untainted in consumers’ eyes by its regulatory issues — and the company’s much-desired payment network are what’s left.

1 week ago | chicagobusiness.com | Mark Weinraub

Small business optimism has fallen sharply during 2025 with concerns about tariffs and inflation dragging down expectations for profitability during what was expected to be a strong year. A survey of small business owners by Chase showed optimism dropped to 65% in March from 79% in January. Chicago small business owners were more hopeful than average, with 80% reporting they were optimistic about the future of their business despite macroeconomic headwinds.