Bankruptcy, Biglaw, Money, Musical Chairs, Partner Profits

Musical Chairs: Weil Partners Defect to Cadwalader

We reported on the rumors last week — and now the news is official. From the New York Law Journal:

Just as Weil, Gotshal & Manges welcomes back legendary bankruptcy partner Harvey Miller, the firm is saying goodbye to four other restructuring stars who are leaving to join a rival firm.

Cadwalader, Wickersham & Taft is set to announce today that it has recruited George A. Davis, Deryck A. Palmer, John J. Rapisardi and Andrew M. Troop as partners in New York. The move, involving four of Weil Gotshal’s most prominent bankruptcy partners apart from Miller and practice co-heads Martin Bienenstock and Marcia Goldstein, points to a major realignment among elite bankruptcy practices.

In our post from last week, we had all of the names except for Troop.

Our tipster chalked up the move to the departing partners’ desire “to swim in Bob Link’s shark tank and make the big $$$.” The NYLJ piece seems to confirm that:

[Deryck Palmer] praised Cadwalader’s famously performance-driven culture, where top partners are rewarded handsomely and weaker ones are winnowed out.

“Cadwalader provides an environment where every lawyer can achieve their potential,” said Palmer.

And their dream of a house in the Hamptons, too.

Earlier: Musical Chairs: Weil Gotshal — In With the Old, Out With the New?

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