Musical Chairs: The Latest Lawyer Losses At A Top Biglaw Firm

A number of these partners were current or former practice chairs.

Modern entrance with revolving doorThe venerable law firm of Cadwalader, Wickersham & Taft, one of the nation’s oldest law practices, has been through a lot in its more than 200 years of existence. It has hired up, and it has slimmed down. It has opened offices around the world, and it has closed them.

This year will probably go down in CWT’s history as one of retrenchment and rebuilding. Last month, the firm announced it would be closing its two China offices and laying off 25 lawyers. And the firm has seen significant voluntary departures as well, the most recent of them reported in the New York Law Journal:

Two Cadwalader, Wickersham & Taft attorneys said Monday they had been hired at other law firms as partners, marking the latest departures from New York’s oldest firm….

Gregory Markel, a former litigation co-chair at Cadwalader before becoming senior counsel at the firm this year, will join Seyfarth Shaw as a partner. Shane Stroud, who was special counsel in Cadwalader’s executive compensation practice, has moved to Hughes Hubbard & Reed as a partner.

Markel’s exit is another drain on Cadwalader’s litigation team, especially in New York. It comes a week after Martin Seidel, chair of Cadwalader’s corporate litigation group, announced he was joining Willkie Farr & Gallagher.

Markel and Seidel aren’t the first prominent partners to leave CWT in 2016. In August, antitrust star Charles “Rick” Rule and three other partners jumped over to Paul, Weiss. In March, Lou Solomon, another former co-chair of litigation, left for Greenberg Traurig, along with three fellow partners.

Greg Markel is moving to Seyfarth Shaw along with one associate, Heather Murray. Here’s what he had to say about his move in an email announcement sent to friends and colleagues:

I’m excited to announce that I have moved my practice to Seyfarth Shaw, an AmLaw100 firm, where I’ve joined the Litigation Department. I will continue to focus my practice on corporate governance litigation, mergers and acquisitions litigation, directors and officers defense, securities litigation, and antitrust litigation.

This is, of course, a significant move in my career. The opportunity to build a strong platform for my clients, and Seyfarth’s deserved reputation for client-service innovation have convinced me that this is the right place for my clients. If we haven’t had the chance to work together for a while, you can click on the button to the right to review my full biography.

Markel’s move shouldn’t shock folks who have been following the palace intrigue at Cadwalader over the past few years. In January 2015, he left his post as litigation co-chair (after what one CWT source of ours described as “a coup in the litigation department”). In early 2016, Markel left the CWT partnership and took the role of senior counsel.

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Markel isn’t the only former practice head to leave Cadwalader in recent weeks. Last month, Steven Eckhaus, who chaired the firm’s executive compensation and benefits practice, took his talents to McDermott Will & Emery.

Will partner departures from Cadwalader start to slow down as the year winds up, or are more moves in the making? We welcome your insights and information, by email or text message (646-820-8477).

Cadwalader Loses Two Lawyers, But Forges French Alliance [New York Law Journal]
Cadwalader Corporate Litigation Chair Jumps to Willkie Farr [New York Law Journal]
Top Executive Pay Lawyer Leaving Cadwalader for McDermott [New York Law Journal]
Cadwalader to Close Hong Kong, Beijing Offices, Lay Off 25 Lawyers [Big Law Business]

Earlier: Biglaw Firm To Close Two Offices, Lay Off 25 Lawyers
Musical Chairs: Cadwalader Antitrust Stars Decamp For Paul, Weiss
4 Leading Litigators Leave Cadwalader For Greenberg Traurig


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David Lat is the founder and managing editor of Above the Law and the author of Supreme Ambitions: A Novel. You can connect with David on Twitter (@DavidLat), LinkedIn, and Facebook, and you can reach him by email at dlat@abovethelaw.com.