Law firm elects Webb as its chairman

Winston & Strawn's executive committee tapped Webb for the post on Tuesday. Webb replaces former Gov. Jim Thompson, who stepped down last month after serving as Winston's chairman for 13 years.

"It is a privilege to be elected chairman of the firm," Webb said in a statement. "I fully intend to continue in my day-to-day practice."

The hard-driving Webb parlayed a successful term as U.S. attorney into a lucrative private practice representing large corporations like the New York Stock Exchange, General Electric and Altria Group, owner of tobacco giant Philip Morris. He normally charges about $700 an hour, according to legal sources.

Thompson's decision to volunteer Webb's services for Ryan cost Winston & Strawn an estimated $20 million or more, causing discontent among some at the firm.

eherman@suntimes.com