Musical Chairs: Cadwalader Loses Former Environmental Chair to Steptoe
In his defense in the Wall Street Journal (subscription) of Cadwalader, Wickersham & Taft, America's Firingest Law Firm™, Ashby Jones wrote:
[W]hile it might take several months to determine the full damage, so far the firm hasn't seen large groups of partners bolt for the door, a phenomenon that can create a mini-panic at a firm and result in the loss of entire practice groups. Of course, the handsome partnership payouts provide good incentive to Cadwalader partners to stay put. And while Cadwalader might never be called a "collegial" place, its partnership is at least cohesive. It consists of a manageable 114 lawyers located predominantly in lower Manhattan.
Make that 113 lawyers. From a press release issued today by Steptoe & Johnson:
Steptoe & Johnson LLP, a pre-eminent international law firm, today announced the addition of Andrew J. Perel as a new partner in its New York office.
Mr. Perel, former Chair of Cadwalader, Wickersham & Taft's Environmental Practice Group, will also become the resident member of the management committee of Steptoe's New York City office and that office's representative on the firm's Executive Committee.
"Andrew is the 'go to' environmental lawyer in New York. He is a leader in his field and highly respected nationally. Through his practice, he provides Steptoe with additional entrée into the financial services clients that are the backbone of every New York law firm practice," said Steve Fennell, head of Steptoe's Litigation Department.
Is Perel's departure an isolated occurrence? Or could it be the first of several partner exits? Time will tell.
Andrew J. Perel Joins Steptoe as Partner in New York Office [Steptoe & Johnson (press release)]
Andrew J. Perel bio [Cadwalader via Google Cache]
(32) Comments
I already was FIRST to the unemployment office.
ATL's boringest article?
Cache link doesn't work as of now -- the Steptoe press release is linked twice.
At CWT, Perel was widely known for being a super-jerk and one of the most difficult partners to work for. Steptoe, I hope you know what you are getting yourself into . . .
Wow, what stinky pooh this is.
AP was a joke with no book.... No idea how he lasted that long at CWT or how he hoodwinked Steptoe into giving him all these various titles. Until health problems a few years back the guy was famous for his "carousing".
4--If that's who he is, he should fit right in at Steptoe.
7--Uh, you may have the wrong firm. From my experience, Steptoe is known for the exact opposite, partner-wise.
Uh, "a pre-eminent international law firm"?
a) Since when?
b) If you have to say it yourself, you're not.
Not that big of a change for the guy since, like CWT, Steptoe wipes Cravath's ass.
He may be a jerk (have heard competing things) but he definitely has a significant book of business and his departure further hurts Cadwalader. Isn't everybody in NY with a big book a jerk anyway?
Cadwalader to TTTT!!
How could he have chaired CWT's environmental practice without a book of business?
CWT's "Environmental Practice" is a three attorney (now two) practice that is a minor sub-group in Lit.
This isn't news at all. The CWT website lists only 2 other members of the environmental practice (maybe he's taking associates with him). "Chairing" a group of three is meaningless. He's also unmentioned on any of the Chambers lists, so he's definitely not the "go to" guy for environmental law.
Wake me up when the Bankruptcy or Private Equity guys leave, Lat.
Obviously, he is transactional environmental lawyer -- in other words, he does the due diligence and negotiates the environmental provisions of purchase agreements. He probably deals with environmental insurers as well.
Does not sound like the guy who is dealing with major regulatory issues or litigation.
CWT doesn't have an environmental "group". That's amusing PR from Steptoe. AP sat around running his mouth all day an waiting for a real estate partner to get a deal where he could do the enviro doc review on property acquisition deals. As he still liked to act like a partner this generally meant he sat around with his feet on his desk and dished out work to associates.
Moving laterally wont save you
http://endofesq.com/wp-content/uploads/2008/09/outsourced.jpg
SERIOUS RESPONSES ONLY PLEASE:
Any recommendations how I can get a job at Cadwalader doing corporate or bankruptcy work?
--Dog eat Dog wannabe
Steptoe's puffery is hilarious. CWT is a non-entity in enviro - as noted in other comments they maintain a small department to provide backup services for real estate and corporate deals, like most large firms. Nothing special. More people have heard of this guy because of this article than have heard of him due to his work.
I interviewed with Perel when I was a 2L ... biggest prick ever. Complete nightmare, challenged me on ever answer I gave, even in small talk. I heard he had a stroke not too long ago ... probably due to his large diet of eating foie gois fed junior associates. F-'em.
vaulting perel to managing partner of steptoe? seriously, who cares? i would much prefer to read that cadwalader sean had been appointed lord of the village idiots. now that's news.
Perel is the 5th partner to leave CWT litigation since january. There are only about 20 partners left in CWT litigation.
According to their website, there are 30 litigation partners still at CWT.
This seems to be a win-win for CWT. They get rid of an abusive partner who was not profitable. Not that the firm has an established record on getting rid of abusive partners . . .
How long until CWT goes belly up?
cwt won't go belly up. it is a small partnership that is cohesive in their pursuit of the dolla dolla bills y'all. but the firm culture definitely has to change for the firm's long term health.
OK....used to work at CWT. Perel is not abusive, but one of the nicer guys they had. He has a good size book of business although I agree they had next to no environmental practice. It is probably the first of many to come--those people with portable business are making business decisions whether it makes sense to stay with a firm that has such a poor reputation. Perel will be followed by others.
Definitely nice in a kiss-up, kick-down sociopathic kind of way. Truly a good size book of business with next to no environmental practice. Who writes these ads?
I have never posted on ATL before but, was compelled to say something here. I was at CWT (thank God I am gone now) and worked with Perel. I agree with 27. I can tell u he is great env lawyer with a huge book. Not that CWT was any major powerhouse before, but now they have no environmental capability at all, which will def hurt them. As for his reputation, sure he could be a jerk at times, and would challenge associates, but overall he was one of the nicest partners at CWT, always friendly to everyone. And anyone who knows anything about CWT will tell u it is NOT a friendly place. Perel was the exception. So a few of u really got your facts all wrong. And as for #21, the 2L, did u ever stop to think that u are a total loser and u prob got what u deserved in that interview? Seems to me Steptoe got one of the few good partners CWT has left.
Hey Perel, you can puff yourself up if you like but you should not dis your former partners like that, it looks bad.
I was an attorney at a firm where Perel practiced prior to his joining CWT. He was an absolute jerk with a large book of unprofitable business. He was arrogant and a horrible human being. Most if not all partners and associates were thrilled when he left to join CWT
Gee I wonder if Chris White left the firm would there be worse comments listed here? I would hope so. I knew AP and he never did anything wrong to me, but that's just me and everyone has a difference of a opinion. I can say this much, Cadwalader Sucks and it's only going to get worse at times goes on. Anyone that gets to leave Cadwalader with their health in tack (if you're lucky) is doing better than anyone that's stuck there now. Trust me, I'm still stuck there....but not for long. My exit plan is already in full effect. Get out while you can.