Recent news about Cahill Gordon has been very positive. In December, the firm announced year-end bonuses that made Cravth’s widely-adopted year-end bonus scale look paltry by comparison. Cahill can afford to be generous: last month, Am Law reported that the firm enjoyed record profits and revenue in 2010, with profits per partner last year of $3.23 million.
(This has caused some to wonder whether Cahill will be paying spring bonuses, like Cravath and many other firms. In light of the spring bonus phenomenon, how does Cahill compensation compare to Cravath et al.? One Cahill source suggests Cahill is still ahead, but we’d love to see the numbers run by someone who knows the full Cahill scale. Feel free to send us an email, or comment on this post.)
The most recent news out of Cahill, though, is strange rather than glowing. Last week, a prominent partner was escorted out of the building by security and removed from the Cahill website. A firm-wide email then went out informing all staff that he was no longer a member of the partnership. (We haven’t seen this email, but feel free to send our way.)
So who’s the Cahill Gordon partner in question?
The lawyer in question is Michael E. Michetti, who joined the firm in 1987, after graduating from Albany Law School, and became a partner in 1997 (almost 15 years ago). Michetti has been recognized by Chambers USA as a leading capital markets and banking lawyer, and he has also been recognized for his excellence by the Legal 500 and by the IFLR1000: Guide to the World’s Leading Financial Law Firms. (We’ve reprinted his bio, obtained via Google Cache, at the end of this post.)
We reached out to Cahill for comment on Michetti’s departure. William M. Hartnett, chairman of the firm’s Executive Committee, issued the following statement to Above the Law: “Michael Michetti is a highly productive and fine lawyer, and we wish him well.”
Interesting. Although it doesn’t explain why Michetti left the firm, it’s a rather positive statement. If Michetti had been involved in some sort of scandal or malfeasance, Bill Hartnett surely wouldn’t have had such warm words for him.
Perhaps Michael Michetti will wind up at another law firm? We’ll keep an eye out for media mentions of his name (unfortunately shared with a prominent theater director who clogs up the Google News feed).
We’ll update you if and when we learn more. In the meantime, if you have inside info you can share about Michael Michetti, please feel free to email us or text us (646-820-8477). Thanks.