Mayer Brown Practice Co-Chair Defects to Dewey
Dewey & LeBoeuf has plucked a new head of bank and institutional finance from Mayer Brown’s ranks.
Marshall Stoddard, who was co-chair of Mayer Brown’s global finance practice, told the Am Law Daily that he was drawn by Dewey’s stable leadership. Mayer brown eliminated its “troika” management structure featuring a chair and two vice chairs to one with only a chairman, managing partner, a six-member management committee and 12-member partnership board. Former chairman James Holzhauer stepped down in March, and vice chair Paul Maher left in May; it was announced in June that Maher will be launching a new London office along with two other former Mayer Brown partners.
“When I made this decision it was during the time Mayer Brown was transitioning its leadership structure and leadership team,” Stoddard told the Am Law Daily. “They’ve been on the ground only a short time, so I really can’t evaluate how successful it will be.
More than 100 partners have left Mayer Brown in the last two years, the Am Law Daily reports, but Stoddard says those departures did not influence his decision.
“To be fair to Mayer Brown, sometimes partners leave because they see another opportunity,” he said.
Dewey & LeBoeuf Chairman Steven H. Davis said in a firm statement that “with earnings and credit difficulties in the current economy, Marshall’s finance experience and demonstrated ability to solve complex issues in an elegant fashion will be invaluable.”
