Cadwalader,
Wall
Street’s
oldest
firm,
has
had
a
rough
go
of
things
this
year.
In
the
wake
of
the
firm’s
deal
with
Donald
Trump,
the
firm
started
losing
lawyers
left
and
right,
with
key
partner
groups
lateraling
out
at
a
rapid
pace.
Rumors
of
the
firm’s
interest
in
a
merger
began
to
spread,
and
just
one
month
ago,
we
reported
that
Cadwalader
was
in
merger
talks
with
Atlanta-based
Alston
&
Bird.
Cancel
those
plans,
because
the
distressed
firm
today
announced
its
partnership
with
Hogan
Lovells.
The
prospective
tie-up
is
expected
to
be
the
largest
law
firm
merger
in
history,
and
will
close
sometime
in
2026.
The
combined
firm,
Hogan
Lovells
Cadwalader,
will
have
about
3,100
lawyers
spread
across
the
globe,
with
clientele
in
every
major
financial
market.
The
new
firm
will
become
an
absolute
financial
powerhouse
—
the
world’s
fifth-largest
firm
by
revenue,
in
fact
—
with
gross
revenue
of
more
than
$3.6
billion.
The
American
Lawyer
has
additional
details
on
why
this
merger
makes
sense:
According
to
Am
Law
100
data,
Cadwalader
and
Hogan
Lovells
have
moderately
similar
revenue
per
lawyer
and
average
profits
per
equity
partner.
Hogan
Lovells
brought
in
$2.964
billion
in
revenue
in
2024,
more
than
quadruple
the
amount
of
revenue
Cadwalader
brought
in
at
$638.2
million.
In
RPL,
Hogan
earned
$1.097
million
while
Cadwalader
generated
$1.495
million,
a
$398,000
difference.
Meanwhile,
Hogan’s
average
PEP
came
in
at
$3.072
million,
whereas
Cadwalader
generated
$3.709
million,
just
over
$600,000
in
difference.
Miguel
Zaldivar,
who
serves
as
CEO
of
Hogan
Lovells,
will
retain
his
title
to
serve
as
CEO
of
the
combined
firm.
Pat
Quinn
and
Wes
Misson,
Cadwalader’s
co-managing
partners,
will
serve
on
the
firm’s
international
management
committee,
with
Quinn
acting
as
global
managing
partner
for
client
and
practice
integration,
and
Misson
will
acting
as
global
managing
partner
for
the
firm’s
finance
practice.
“Together,
Hogan
Lovells
Cadwalader
will
become
one
of
the
world’s
most
formidable
legal
platforms
–
built
to
advise
clients
on
the
most
critical
legal
and
business
issues
of
the
moment
and
transactions
that
will
shape
the
future,”
Quinn
said
in
a
statement.
Best
wishes
to
Cadwalader
and
Hogan
Lovells
on
their
impending
combination.
Cadwalader,
Hogan
Lovells
Intend
to
Create
$3.6B
Merged
Firm
[American
Lawyer]
Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
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to
hear
from
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