Cadwalader Wickersham & Taft is flying in managing partner and former chairman Bob Link (pictured) to head up its London office, after failing to convince the bulk of its London partnership to stay at the firm.
Link plans to helm the London office for 12 to 18 months and rebuild an operation which was ravaged by the departure of seven partners to Paul Hastings Janofsky & Walker this week, as revealed exclusively on TheLawyer.com (14 January)
Cadwalader’s internal announcement said: “The reduction in capabilities in London is unfortunate. However, these departures allow us to rebuild the London office into a profitable operation with a focus consistent with the firm’s long term objectives.
“We start this rebuilding process with a very strong foundation in capital markets, financial restructuring and tax led by partners Angus Duncan, Richard Nevins, Nick Shiren and Adam Blakemore. Bob Link will move to London in February to lead the firm’s rebuilding effort.”
Yesterday chairman Chris White and Link tried to persuade the seven partners to stay at the firm with the promise of Link’s imminent arrival signalling a commitment to the London office.
It is understood that Link’s transfer had been planned by New York management for some time but was only revealed to the departing partners yesterday. The announcement then went out to the Cadwalader partnership confirming the move.
Link was recently removed from the management committee after supervising a period where profits have crashed and the firm made 131 associate redundancies (17 November 2008)
It is understood that Link will not return to the management committee despite the departure of restructuring co-chair Bruce Zirinsky to Greenberg Traurig (9 January).
Cadwalader was not available for comment.