After a stellar 2005, when Cadwalader Wickersham & Taft turned over some £30m-plus, 2006 was slightly slower. The firm’s mighty restructuring group was still dominant and continued to represent more than half of the London office’s turnover. However, headline mandates on British Energy and TXU came to an end, meaning Cadwalader London had less of bumper year.
Turnover was around £28m, with at least £5m of that attributable to Eurotunnel work alone.
Restructuring aside, 2006 saw a renewed push into capital markets, the mainstay of the firm in the US. This followed the recruitment of collateralised debt obligation partner Angus Duncan from A&O and securitisation partner Christian Parker from Norton Rose.