Cadwalader partners launch palace coup as profit crashes

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  • Bob Link ...

    ... took an axe to the whole concept of partnership, which is playing with fire. People need to believe that they're working for more than just a pay cheque. That the institution means something, that they have some emotional tie to the place.

    When it's all by the numbers, and pretty rigorous numbers at that, that changes the whole tenor of the institution. You end up with a place full of people who are only there for the money.

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  • JC and Charlotte

    The exit of Jim Carroll from the management committee will be very bad news for him personally, but it reinforces the impression that Cadwalader's Charlotte office is teetering.

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  • Come on!

    What Bob Link did was hardly different from what every other managing partner did - it just happened that his version failed. All commercial law firms are, ultimately, about the cash. As JP Morgan once laughed, "we are not in business for our health!".

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  • Partners In Name Only

    LInk "took an axe to the whole concept of partnership." He's not the only one. A number of firms "revised" their partnership agreements in recent years so that the "partners" really function more as at will employees of the executive committees.

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  • CWT

    Link was never going to get support from all those partners he stiffed on remuneration. Bye bye.

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  • Coup

    This is no surprise. The place is an absolute snake pit.

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  • Scapegoat

    Bob Link led Cadwalader through very difficult times. Profits per partner were high for the last ten years and Cadwalader was extremely successful and profitable. When things are going well, everyone loves you. When things are going bad, no one stands with you. Bob had the full support of the partnership in each decision he made - now he's the blame for Cadwalader's down fall. Bob, I wish you much success at another company.

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