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Dewey & LeBoeuf has seen a further six partners leave the firm, with a team of insurance and tax lawyers quitting to join Sutherland Asbill & Brennan in New York.
Sutherland HQ, New York
Transactional insurance partner James Dwyer, insurance partner Jeffrey Mace and insurance regulatory partners John Pruitt and Cynthia Shoss are set to move to Sutherland alongside Lloyd’s of London tax specialist Linda Sciuto and insurance and tax partner Bruce Wright.
Mace led Dewey’s Lloyd’s of London and Lloyd’s Market practices while at the US firm.
A Dewey spokesperson said in a statement that exits from the firm were not surprising as the firm changes and that it was still set for a “very good economic year”.
“We’ve said all along that with change more departures were expected. These additional departures, while regrettable, we don’t believe will change the conclusion that the firm is poised to have a very good economic year,” the statement said.
“We have a strong and deep bench, as is evidenced by the results our professionals are producing for our clients and the firm. These departures will not have a material impact on firm finances this year, nor will it affect the compensation budget on a net basis after deducting the departing partner comps.”
Sutherland managing partner Mark Wasserman said: “Our clients will immediately benefit from this added depth and breadth.”
The six-partner move follows Willkie Farr & Gallagher’s hire of two London partners from Dewey earlier this month (19 March 2012).
Dewey has already said it is cutting 5 per cent of lawyers globally as part of a restructuring (5 March 2012).
It emerged last week that the US firm had hired a crisis manager who has previously worked for Paris Hilton and R&B singer Chris Brown (23 March 2012).