Wake Up Call: Deals Drive Cadwalder’s Record 2021 Profits

In today’s column, Goodwin and handful of other firms matched the Milbank scale for associate pay hikes; a recent federal court ruling in Texas could inspire more lawsuits against insurers refusing to pay for Covid testing; close to half of U.K. law firms are considering a merger as a shortcut to growth.

• Leading off, Cadwalader, Wickersham & Taft rode a big wave of deal work to a 34.55% increase in gross revenue in 2021 to about $608.9 million. Cadwalader’s profits per equity partner soared 71.57% to a record $4.4 million, while its head count rose to 413 from 401. It ...