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Cadwalader Wickersham & Taft has lost finance star Christopher Kandel to White & Case, leaving the firm with no partner-level leveraged finance capability.
The bank debt specialist joined Cadwalader's London office in 2002 from Fried Frank Harris Shriver & Jacobson. Prior to that, he was a partner at O'Melveny & Myers.
His departure from Cadwalader follows last year's exit of leveraged finance partner Stephen Mostyn-Williams, who left the firm to establish his own operation. While Cadwalader retains a global real estate finance practice, Kandel's exit leaves it with no leveraged finance partners.
White & Case bank finance head Mike Goetz said synergies between Kandel's clients and those of the firm made it a logical hire. "It helps us cement our already strong relationships with Deutsche Bank, Goldman Sachs and BNP Paribas and helps us grow these relationships," said Goetz.
Deutsche Bank is a key client relationship both for Kandel and White & Case's London finance group. Recently, Kandel has also secured instructions from Goldman Sachs.
Kandel said: "It's exciting to go to a firm where the core practice is banking."