Four prominent corporate partners at Reed Smith are leaving to join Cooley, the firm announced in a statement on Friday.
The group is led by Yvan-Claude Pierre, head of Reed Smith’s global corporate and securities group and chair of its U.S. capital markets group.
Pierre, along with corporate and capital markets partners Daniel Goldberg and William Haddad, joins Cooley’s New York office. Corporate and M&A partner Garth Osterman is headed to Cooley’s San Francisco office.
[caption id="attachment_3358" align="alignleft” width="163"][Image “yvanclaudep-p” (src=https://bol.bna.com/wp-content/uploads/2015/07/yvanclaudep-p.jpg)]Yvan-Claude Pierre (Photo Courtesy of Cooley LLP)[/caption]
The team’s clients have included Heckmann Corporation, Lazard Capital Markets and Jefferies & Company. The team generated $10.7 million in business in 2014, according to a firm spokeswoman.
Because Reed Smith’s notice period hadn’t yet expired, the four were unable to speak to the media on Friday. Asked what he thought drew them to Cooley, CEO Joseph Conroy said Cooley offered the opportunity to join an elite firm with a more targeted focus.
“I think Yvan saw a significant global platform that’s branded around the things he does,” Conroy said.
“There are all the capability we’ve built outside of the valley, but we’re still built around technology, life sciences, and high-growth, innovative companies. And New York is a critical piece for us. In many respects, it’s our most important strategic imperative.”
Conroy said Pierre was “reticent” when he was first approached about making the move. “We got to know each other over a period of time. It morphed into a recruiting conversation.”
“When I talked to Yvan he exposed me to the other partners. They’re accomplished practitioners in their own right. It became apparent he wasn’t going to move without his team.”
In a statement, John D. Martini, leader of Reed Smith’s Corporate & Transactional Advisory Group, wished the partners well.
“Reed Smith is blessed with a deep bench of transactional and capital markets attorneys in the US and globally and we will continue to handle our clients’ business needs with unsurpassed quality and service in each of our 26 offices.”
Conroy said the hires are part of a larger strategy to expand Cooley’s corporate practice. In fact, according to a Cooley spokesperson, the firm has hired 25 corporate partners, including these last four, since 2013.
“A lot of firms, particularly post financial crisis, have really financially engineered their results,” Conroy said. “We’ve put ourselves in top 30 or top 35 firms, but we’ve done that while actually growing the firm.”
—Casey Sullivan contributed to this report.
(UPDATED: This article has been corrected to reflect that the Reed Smith team generated $10.7 million in business in 2014, a lower figure than previously reported.)