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 email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @Kathryn1@mastodon.social.
The post Another One (Or 5) Bites The Dust: Cadwalader Litigation Leaders Exit Amid Hogan Lovells Merger Fallout appeared first on Above the Law.
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 email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Mastodon @[email protected].
