Cadwalader Trial Leaders Join Rival Firms Ahead of Hogan Merger

Two of Cadwalader’s top litigators are heading for the exit as the firm looks to close its merger with Hogan Lovells, according to three people briefed on the moves.

Danielle Tully, co-chair of Cadwalader’s litigation practice, and Jonathan Watkins, head of corporate and financial services litigation, are leaving the firm, the people said. Tully is joining Orrick Herrington & Sutcliffe, while Watkins is headed to Proskauer Rose, according to two of the people.

Tully, Orrick, and Proskauer did not immediately respond to requests for comment. Watkins and Cadwalader declined to comment on the moves.

The departures will further solidify Cadwalader’s focus on complex finance work on the eve of the Hogan Lovells merger. The tie up, which the firms’ leaders say will be Big Law’s largest-ever combination, is intended to boost Cadwalader’s competitive profile after a difficult stretch that saw more than 30 partners decamp for rival firms last year.

Tully focuses largely on intellectual property disputes, and has represented Diageo and Golden West Food Group, among other clients. Watkins previously was the firm’s litigation co-chair.

Cadwalader, Wall Street’s oldest law firm, is best known for its specialization in complex finance work. Hogan Lovells’ CEO Miguel Zaldivar said he pursued the merger as part of an effort to grow in New York and cited Cadwalader’s “top of the market finance capabilities.”

“This combination fulfills our shared ambition to create a global firm with a strong transatlantic platform anchored in the most important financial centers around the world,” Wes Misson, co-managing partner of Cadwalader, said in a statement when the merger was announced in December.

Cadwalader and Hogan hope to approve the merger through partnership votes and finalize the tie-up by the end of the year, the firm leaders said in December. The combined firm is expected to have about $3.6 billion in revenue.

The exits continue the poaching Cadwalader endured from Orrick and Proskauer in the months leading up to its merger announcement. Both firms launched offices in Charlotte, North Carolina after recruiting teams from Cadwalader.

Orrick recruited more than 30 lawyers in multiple offices, while Proskauer recruited a team of four Charlotte-based finance partners.