The hits maintain coming for Cadwalader Wickersham & Taft. Studies of a mass lateral defection from the agency’s collateralized mortgage obligation and asset-backed lending staff have now been confirmed, with Orrick taking in a 37-lawyer staff from the agency — together with 10 companions — in some of the sweeping group lateral strikes the Biglaw world has seen this yr. This may give Orrick an instantaneous enhance in one in every of its most worthwhile observe areas, and deal yr one other severe blow to Cadwalader’s already shake sense of stability.
As famous by the American Lawyer, this group lateral strikes spans continents, with attorneys within the U.S. and the U.Ok. concerned, and this enlargement has allowed Orrick to assert rights to one of many largest finance practices on the earth. Right here’s a press release from Mitch Zuklie, Orrick’s chair, on the information:
“The addition of this world-class staff positions our agency uniquely to advise our personal credit score and banking purchasers as they innovate on personal debt options. It advances a number of strategic priorities, together with rising our London workplace and scaling our finance observe with a staff of exceptional high quality.”
For Cadwalader, this transfer lands at a fragile second. The 233-year-old agency appears to have spent a lot of 2025 in triage mode, making an attempt to regular itself after months of associate departures and rising inside unease. Simply final week, the agency introduced that finance associate Wes Misson would change into co-managing associate alongside long-time chief Pat Quinn — a transfer extensively interpreted as an effort to challenge calm amid the chaos. The agency’s management shuffle was meant to indicate that administration was paying consideration, however as we speak’s information makes that try at reassurance really feel nearly quaint.
When almost 40 attorneys pack up from one in every of Wall Avenue’s most venerable corporations and transfer collectively, they ship a message about the place they consider alternative lies — and the place it now not does. Orrick didn’t simply make a bunch lateral rent; it made an enormous assertion. Cadwalader’s leaders insist that the agency stays robust, worthwhile, and targeted, however the optics listed here are merely brutal. In a talent-driven economic system, stability is foreign money, and this transfer means that Cadwalader’s reserves could also be operating low.
37-Lawyer Cadwalader Workforce Arrives at Orrick [American Lawyer]
Earlier: Wall Avenue’s Oldest Biglaw Agency Appoints Co-Managing Companion Amid Mass Exits And Merger Rumors
Staci Zaretsky is the managing editor of Above the Regulation, the place she’s labored since 2011. She’d love to listen to from you, so please be happy to electronic mail her with any ideas, questions, feedback, or critiques. You possibly can observe her on Bluesky, X/Twitter, and Threads, or join together with her on LinkedIn.
