Dewey Ballantine’s New York office has suffered another senior partner departure in the wake of its failed merger with Orrick Herrington & Sutcliffe.
Former management committee member Paul Wessel, a compensation and benefits partner, is leaving for Milbank Hadley Tweed & McCloy, the 12th partner to leave Dewey since its proposed merger with Orrick, scrapped in the first week of January, was announced last October.
The New York office in particular has lost six partners, including M&A stars Michael Aiello and Jack Bodner, who went to Weil Gotshal & Manges and Covington & Burlign respectively.
Wessel’s departure leaves only one partner in the compensation and benefits team. Dewey offers capability in the area out of its New York office alone.
It is understood that Wessel is pursuing leadership opportunities at Milbank that weren’t available at Dewey.
Dewey commented only: “We’re sorry to see Paul go. We wish him well.”