Benedict Arnold was a general during the American Revolutionary War who started out in the Continental Army but later defected to the Brits. So when in the early 1990s U.S. lawyers Jeffrey Golden and Thomas Joyce quit, respectively, Cravath, Swaine & Moore and Dorsey & Whitney to join U.K. firms Allen & Overy (A&O) and Freshfields, the pair were jokingly likened to Arnold.
Having found themselves ostracised from their old club of U.S. securities lawyers, “The Ad Hoc Committee,” in the wake of their traitorous moves, they founded a new association for the growing band of turncoats like them populating London firms. Its official name was “The Permanent Committee,” but it quickly attracted the moniker, “The Benedict Arnold Society.”
These days, with the one-man U.K. firm U.S. legal practices started by Golden and Joyce now employing hundreds of American lawyers, the Benedict Arnold Society is going stronger than ever; its Yank expat members meeting for dinners that go late into the night every month at the offices of their adopted British law firms.
Jeff Golden, who retired from A&O in 2010 and is now a professor at the London School of Economics (LSE), still sometimes struggles to believe the level of change that has taken place since he and Tom Joyce set up the club in 1993….