Cadwalader MP Left Off Recommended Slate of Leaders
Partners at Cadwalader, Wickersham & Taft received a recommended slate of candidates for the firm’s management committee on Wednesday with one obvious omission.
Managing partner Robert Link was not on the list, the American Lawyer reports. He had already given up his post as chairman in February to W. Christopher White. Since then, the firm has laid off 131 associates.
“It really is part of our normal succession,” Link told the American Lawyer. “It’s not something I’ve been part of planning for.”
The Lawyer had reported last week that the firm’s management committee would seek to oust Link from his post. Under Link’s leadership, the firm had focused on capital markets and real estate, while cutting less profitable practices. The focus left the firm vulnerable when those markets collapsed, and published reports say it is anticipating a profit drop of more than 50 percent. White did not confirm that number in an interview last week, but said profits would be considerably lower.
