Cadwalader Wickersham & Taft is the latest storied New York law firm forced to find a dance partner or face extinction.
Manhattan’s oldest law firm is merging with Hogan Lovells, Cadwalader announced Thursday. The move follows 150-year-old Shearman & Sterling’s combination with Allen & Overy last year.
Cadwalader’s deep financial sector ties once made it among the country’s most profitable firms, but its narrow focus became a liability as the legal services industry shifted. Like Shearman, the firm staked out a merger with a larger, blow-in competitor to avoid the fate of Stroock & Stroock & Lavan, which in ...