Cravath, Swaine & Moore has revamped its footprint and operations in the last two years, perhaps more so in that time period than in any other since its formation.

From abandoning pure lockstep compensation to launching a Washington, D.C., office, Cravath is finally seeking to become more competitive, analysts say, but some question whether it’s enough and if the firm’s adjustments are coherent enough to work together.

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