#cadwalader

#cadwalader

[S]ources have indicated in the last week that Cadwalader has been speaking with multiple firms lately and the pace of talks has picked up. One source familiar with the circumstances described the set of courters as a rolling group of three. Sources say possible merger partner firms are likely ranked in the Am Law 25 to Am Law 50 range - where firms' gross revenues exceed $1 billion - and are generally interested in Cadwalader's corporate practices and its large New York office. Cadwalader, ranked No. 85 in the Am Law 100, generated $638 million in gross revenue last year.

The hits keep coming for Cadwalader Wickersham & Taft. Reports of a mass lateral defection from the firm's collateralized loan obligation and asset-backed lending team have now been confirmed, with Orrick taking in a 37-lawyer team from the firm - including 10 partners - in one of the most sweeping group lateral moves the Biglaw world has seen this year. This will give Orrick an immediate boost in one of its most profitable practice areas, and deal year another serious blow to Cadwalader's already shake sense of stability.

As noted by the American Lawyer, the firm recently announced the appointment of Wesley Mission, the firm's finance group chair, to assist Patrick Quinn, the firm's longtime managing partner. The firm hasn't had a co-managing partner in a decade. In a memo to partners, Quinn said that Mission "has been serving alongside me effectively as co-managing partner, and I'm thrilled that he has agreed formally [to] take on the role." So what, exactly, is Mission's mission at CWT?

If we can deploy some talented attorneys to assist Eric in that office, that is something I am confident would be viewed as meeting the obligations.