Cadwalader, Wall Road’s oldest agency, has had a tough go of issues this yr. Within the wake of the agency’s take care of Donald Trump, the agency began shedding attorneys left and proper, with key accomplice teams lateraling out at a speedy tempo. Rumors of the agency’s curiosity in a merger started to unfold, and only one month in the past, we reported that Cadwalader was in merger talks with Atlanta-based Alston & Fowl. Cancel these plans, as a result of the distressed agency at this time introduced its partnership with Hogan Lovells.
The possible tie-up is predicted to be the most important regulation agency merger in historical past, and can shut someday in 2026.
The mixed agency, Hogan Lovells Cadwalader, can have about 3,100 attorneys unfold throughout the globe, with clientele in each main monetary market. The brand new agency will turn into an absolute monetary powerhouse — the world’s fifth-largest agency by income, in truth — with gross income of greater than $3.6 billion. The American Lawyer has further particulars on why this merger is smart:
In response to Am Legislation 100 knowledge, Cadwalader and Hogan Lovells have reasonably related income per lawyer and common earnings per fairness accomplice. Hogan Lovells introduced in $2.964 billion in income in 2024, greater than quadruple the quantity of income Cadwalader introduced in at $638.2 million. In RPL, Hogan earned $1.097 million whereas Cadwalader generated $1.495 million, a $398,000 distinction. In the meantime, Hogan’s common PEP got here in at $3.072 million, whereas Cadwalader generated $3.709 million, simply over $600,000 in distinction.
Miguel Zaldivar, who serves as CEO of Hogan Lovells, will retain his title to function CEO of the mixed agency. Pat Quinn and Wes Misson, Cadwalader’s co-managing companions, will serve on the agency’s worldwide administration committee, with Quinn appearing as world managing accomplice for shopper and apply integration, and Misson will appearing as world managing accomplice for the agency’s finance apply.
“Collectively, Hogan Lovells Cadwalader will turn into one of many world’s most formidable authorized platforms – constructed to advise shoppers on essentially the most crucial authorized and enterprise problems with the second and transactions that may form the longer term,” Quinn mentioned in an announcement.
Greatest needs to Cadwalader and Hogan Lovells on their impending mixture.
Cadwalader, Hogan Lovells Intend to Create $3.6B Merged Agency [American Lawyer]
Staci Zaretsky is the managing editor of Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be at liberty to e mail her with any suggestions, questions, feedback, or critiques. You possibly can comply with her on Bluesky, X/Twitter, and Threads, or join along with her on LinkedIn.
