The carnage at Cadwalader Wickersham & Taft, which saw the loss of 96 associate jobs last week, is expected to lead to a number of partner departures.
The ;carnage ;at Cadwalader Wickersham & Taft, which saw the loss of 96 associate jobs last week, is expected to lead to a number of partner departures.
The firm’s London office hopes its partnership will emerge relatively unscathed by the cuts, although it is expected that US structured finance ;partner ;Neil Weidner (pictured) will return to New York in the next six months. That would leave London with a partner count of 11.
A Cadwalader partner told The Lawyer: “I think the plan is to take care of associate issues first. But there are some very senior lawyers in New York whose practices are just not viable. They’ll go.”
Eleven of the 96 redundancies were in London – the equivalent of a fifth of the London associates.
Cadwalader’s London office has hit back with the hire of barrister Tom O’Riordan from Quadrant Chambers as a partner.
The firm is trying to move away from dead sectors such as real estate and structured finance. O’Riordan’s experience lies in restructuring and regulation. In the US the firm is hiring in the private equity and IP sectors.
The firm is waiting for Ronald Hopkinson, who joined from Latham & Watkins in February, and his private equity team to bed down before deciding whether to recruit in London.