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We all know there are various reasons why a firm might lose partners, but the defection of five Linklaters lawyers including three partners and one high-level consultant to join White & Case in Paris looks like a harsh loss.
Only last week the firm saw former US head Larry Byrne walk out the door to join Pepper Hamilton’s US office alongside a team of fellow litigators, while last year finance partner Olivier Jauffret joined Weil Gotshal & Manges, the same destination chosen in 2011 by London banking partner Stephen Lucas.
It might not be as potentially devastating as Weil’s infamous 2011 raid on Clifford Chance’s funds team, but it shows that even the UK elite are not immune to high-paying US firms’ raids.
Linklaters has said it has “plans in place” to develop its capital markets practice, which presumably means more than just making sure the remaining three partners in the Paris practice don’t cross the Seine for another firm.
The most immediate need will be to negotiate exit terms with departing partners Cenzi Gargaro, Philippe Herbelin and Séverin Robillard as well as consultant Gilles Endréo and associate Thomas Le Vert.
If the five of them manage to fix a quick move to White & Case, it’ll be croissants all round.
Also on TheLawyer.com:
Dewey & LeBoeuf’s bankruptcy plan has been approved, with the London administrators also negotiating a deal to keep a proportion of the funds from partner clawbacks for the UK creditors
Slaughter and May partner Jonathan Cotton gets the call from the SFO for the defence of the Tchenguiz cases
French firm Bredin Prat has been ordered to pay nearly €100,000 to a former employee who sued for unfair dismissal
And, in the latest sale of a high-street name from administration, RPC has advised Sports Direct on its acquisition of fashion retailer Republic