Brobeck Phleger & Harrison's securities litigation group has suffered another blow with the news that top-billing securities litigation partner Gregory Markel is quitting to join the New York office of Cadwalader Wickersham & Taft
Securities litigation lawyer Ronit Setton, who was made partner earlier this year, will follow him. Markel will join high-profile securities litigation partner Dennis Block. It is understood that Markel's clients include the Bank of America, which he advises in relation to the Enron and WorldCom litigation. He is also advising a director in litigation relating to Tyco. The moves are the latest in a long line of departures from the Brobeck securities group. In May, The Lawyer revealed the exodus of 17 partners to Clifford Chance to set up an office in San Francisco; 10 of the partners, led by former Brobeck chairman Tower Snow, were from the securities litigation group. However, Brobeck has lost at least 17 other partners in the last seven months, including five from the New York office. It is understood that Markel has been the biggest business generator in the New York office and the most senior securities litigator at Brobeck. Following the departure of Markel and Setton, the securities group will be left with 36 lawyers and six partners firmwide.