Latham & Watkins has swooped on rival White & Case for a four-partner team of bank finance and capital markets partners.
The group includes Chris Kandel, who co-heads White & Case’s London bank finance group.
The exit of the group raises questions about White & Case’s continuing relationship with several key clients in London, including Deutsche Bank, Goldman Sachs and Nordic Capital.
London office head Oliver Brettle (pictured) admitted the exit of the four partners was “a serious blow” but remained adamant that the bank finance practice would continue.
“Quite obviously this isn’t good news for the firm’s practice in London,” said Brettle. “But I can assure you that we’ll rebuild the practice. We remain committed to bank finance globally, in the region and within the London office.”
White & Case’s core bank finance team in London now features partners Magdalene Bayim-Adomako, Barbara Choi and Antonia Rawlinson plus around 30 associates.
Bayim-Adomako has taken over as head of the London group, which is part of the banking and capital markets section headed by David Barwise.
Brettle added that the firm had already commenced a search for a senior bank finance partner to join the team.
“We already had a search out for a senior finance lawyer and we’ll redouble our efforts to broaden that, as you’d expect,” he said. “We’ll also look at relocating partners from throughout the network.”
Kandel, who is understood to have already joined Latham, is moving along with partners Sam Hamilton, Brian Conway and Jayanthi Sadanandan.
Kandel took over as co-head of White & Case’s London bank finance practice in March 2008 after the exit of partners Maurice Allen and Mike Goetz, who left to join Freshfields Bruckhaus Deringer. The pair subsequently joined Boston firm Ropes & Gray to set up its London office.
Readers' comments (4)
Anonymous | 29-Jan-2010 5:15 pm
it couldn't happen to a nicer firm!
Unsuitable or offensive? Report this comment
Anonymous | 30-Jan-2010 2:55 am
I used to work at White & Case and I honestly believe it couldn't happen to a nicer or more promising (a few years ago) firm. But then again, people and firms change very quickly (as they will again), and I just cannot understand how such a group of intelligent people could get on so badly with each other to create such a sad state of affairs from what was a truly promising place to be.
Unsuitable or offensive? Report this comment
Anonymous | 1-Feb-2010 4:49 am
I agree with Anonymous @ 5:15pm. This is fantastic news! The passengers continue to jump off the sinking Titanic! The demise of White & Case continues . . . ;-)
Unsuitable or offensive? Report this comment
Anonymous | 2-Feb-2010 5:47 am
To Anonymous @ 2:55pm:
The answer is very simple. The culture of W&C has changed dramatically over the past few years. It has developed a culture of cronyism starting with the Duane Wall years, where advancement is based on who you know and suck up to, rather than on your achievements. Promising partners and senior attorneys were forced out in favor of those who actually worked hard and brought in business. The management lost sight of the fact that the law firm is a BUSINESS and has to be run as such - not run as the personal fiefdom of Hugh Verrier and his cronies.
Unsuitable or offensive? Report this comment