Davis Polk Starts Year with Lateral Hire After Relaxing Lockstep

Davis Polk & Wardwell has hired former Buckley LLP partner Daniel Stipano, an early sign the elite firm is following through on a more aggressive lateral hiring strategy it laid out last year with its departure from strict lockstep compensation.

Stipano, a former official at the Office of the Comptroller of the Currency, is based in Washington and advises on the Bank Secrecy Act and anti-money laundering enforcement matters.

Davis Polk last year relaxed its tenure-based partner compensation system in order to more readily lure lawyers from rivals. The firm had been one of a handful of Wall Street firms ...