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Cadwalader ramps up rebuild with Linklaters hire

11 September 2012 | By Matt Byrne

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Cadwalader Wickersham & Taft has hired one of the City’s best-regarded financial restructuring and insolvency lawyers, Linklaters’ Yushan Ng, as a partner in its London office.

Ng was one of the Linklaters partners helping lead the magic circle firm’s distressed investment practice and served as the primary relationship partner for numerous private equity and hedge funds.

His recent roles include in major European restructurings such as SEAT Pagine, Fitness First, Truvo (World Directories) and Regency Casinos. Ng’s other clients include Oaktree Capital, Viridian Group, Ferretti and Welsh Power.

“Yushan is one of the most talented restructuring lawyers in Europe today,” said Chris White, the chairman of Cadwalader in a statement. “[He] has that valuable combination of broad experience and a creative approach to problem solving that help make him so effective.”

Ng, a Linklaters partner since 2008, is the first English-qualified financial restructuring partner Cadwalader has hired since the departure of trailblazer Andrew Wilkinson in March 2007 to Goldman Sachs (8 March 2007).

Ng’s arrival represents the continued rebuilding of the US firm’s City practice that was pledged by the firm’s London office managing partner Greg Petrick earlier this year (2 January 2012).

Last month Cadwalader added structured finance partner Stephen Day to its London base with his hire from Mayer Brown (24 August 2012).

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Readers' comments (7)

  • Anonymous | 11-Sep-2012 1:20 pm

    ...and if people think Linklaters will let him take a single client, think again. Unlike in Wilkinson's day on leaving CC, restructuring is much more established in firms. Links will guard its clients fiercely. Writing big cheques like this will not solve Cads problems.

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  • Anonymous | 11-Sep-2012 1:48 pm

    The latest in a long line of bad decisions by Cads. 3 years tops. Wrong decision for Ng too

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  • Vercingetorix | 11-Sep-2012 3:12 pm

    The real issue is that the world is different to the one Andrew Wilkinson prospered in.

    Restructurings are massively more complex and resource intensive than they were 5 to 10 years ago. They require significant scale in specialities like pensions, environmental etc and local law expertise in key jurisdictions. Cadwalader simply doesnt have these things.

    The era of the charismatic loner being able to scoop big deals all on his own are I think long gone. Cads will need to invest heavily (ie accept considerable dilution) if they are to make this succeed.

    If Mr Ng was just after the money then he should have followed Mark Glengarry and gone to a bank.

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  • Anon | 11-Sep-2012 4:34 pm

    Yushan is a brilliant Lawyer and unlike many other partners at Links, a decent human being. Make no mistake Links were desperate to keep him and made offers many a lesser partner would have accepted. A big blow for Links - pulling power deminished?

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  • Anonymous | 12-Sep-2012 3:26 pm

    Unless he ultimately left Links because he hated the enviroment, the lack of excitment of building a practice replaced by simply being a custodian of an existing one (which is ultimately why many great people leave the magic circle) and felt because of that he could not continue, this is single worst mistake this otherwise bright guy has ever made. I left the magic circle for the reasons above and I don't regret it, but life is much harder on the outside, scrapping for every client and fighting against the addition to brand that banks and the London market have. Cadwalader in London isn't going to be easy, just ask Angus...

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  • Nght and Day | 14-Sep-2012 4:05 pm

    good luck boys..
    http://www.thelawyer.com/cadwalader-partners-launch-palace-coup-as-profit-crashes/135697.article

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  • Campaore | 14-Sep-2012 7:00 pm

    ...not sure that with only 6 partners in their London office one could launch a palace coup these days.

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