Cadwalader’s
planned
merger
with
Hogan
Lovells
was
supposed
to
be
a
stabilizing
moment.
The
kind
of
Biglaw
power
move
that
quiets
rumors
and
reassures
partners
that
everything
is
fine.
Instead,
it’s
become
the
latest
accelerant
in
their
partner
exodus.
The
newest
departures
are
significant.
Cadwalader
litigation
co-chairs
Philip
Iovieno
and
Nicholas
Gravante,
Jr.,
along
with
partners
Sean
O’Shea,
Michael
Petrella,
and
Matthew
Karlan
are
decamping
en
masse
for
Mintz.
That’s
because
the
merger
created
client
conflicts
that
couldn’t
be
papered
over,
and
the
lawyers
decided
their
clients’
interests
—
and
their
own
—
required
a
fast
exit.
“We
found
out
about
the
merger
on
December
18th
with
Hogan,
and
we
knew
there
was
a
conflict,”
Iovieno
said.
“We
worked
to
see
if
we
could
resolve
it,
but
there
was
nothing
we
could
do.
It
was
important
for
our
clients
for
us
to
move
swiftly
and
make
it
as
seamless
as
possible.”
Mintz,
for
its
part,
wasted
no
time
framing
the
move
as
a
major
win.
The
firm
said
the
group
will
establish
“a
powerful
new
vertical
at
Mintz,
combining
exceptional
trial
strength
with
a
standout
record
representing
technology,
healthcare,
retail,
and
food
and
beverage
clients.”
Iovieno
echoed
that
enthusiasm,
saying
the
group
was
looking
for
a
firm
“that
had
a
top-flight
litigation
and
trial
practice,”
and
that
Mintz
was
“in
a
position
to
support
us.”
Zooming
out,
this
isn’t
an
isolated
incident,
it’s
part
of
a
much
larger
pattern
that
Above
the
Law
has
been
documenting
for
months.
Long
before
the
Hogan
Lovells
merger
was
announced,
Cadwalader
was
already
leaking
partners.
As
we
reported
last
fall,
merger
momentum
was
building
precisely
because
the
firm’s
woes
were
deepening,
with
leadership
changes
and
exits
piling
up
as
rumors
swirled.
That
momentum
didn’t
stop
the
bleeding:
nearly
40
lawyers
jumped
ship
in
a
single
practice
group
raid,
and
the
firm
appointed
a
new
co-managing
partner
amid
what
could
politely
be
described
as
chaos.
Even
earlier,
litigators
were
already
voting
with
their
feet,
particularly
after
Cadwalader’s
controversial
decision
to
capitulate
to
Donald
Trump,
a
move
that
sparked
multiple
partner
exits
and
drew
sustained
criticism.
The
merger
was
meant
to
stem
the
tide
of
partners
heading
to
the
exits,
but
at
least
17
partners
have
reportedly
departed
Cadwalader
since
the
HoLove
merger
was
announced.
Though
they
put
a
positive
spin
on
the
departures,
a
Cadwalader
spokesperson
said,
“While
we
have
been
very
pleased
with
the
minimal
conflicts
arising
from
our
planned
merger,
we
expected
that
a
few
would
be
inevitable
in
the
process
of
creating
a
global
firm
with
more
than
3,100
lawyers.
We
are
disappointed
that
our
colleagues
will
not
be
a
part
of
the
combined
firm,
but
the
interests
of
the
clients
come
first,
and
we
wish
them
the
very
best.”
On
the
same
day
as
the
Mintz
departures,
Cadwalader
also
lost
two
M&A
partners:
Stephen
Fraidin
to
White
&
Case
and
Nick
Ramphal
to
A&O
Shearman.
Kathryn
Rubino
is
a
Senior
Editor
at
Above
the
Law,
host
of
The
Jabot
podcast,
and
co-host
of
Thinking
Like
A
Lawyer.
AtL
tipsters
are
the
best,
so
please
connect
with
her.
Feel
free
to
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