Sidley Austin has recruited an 11-lawyer funds team from Hogan Lovells, the newly merged entity formed from Hogan Lovells and Cadwalader Wickersham & Taft. The lateral move occurs just one month after the merger's completion, signaling immediate organizational instability at the combined firm.
The departing group specializes in funds law and operates from the New York office. Their relocation to Sidley Austin represents a substantial talent drain for a merged practice still in integration phases. This type of immediate defection typically indicates either competitive pressure to secure specialized talent or underlying friction within the newly combined organization.
Large lateral group movements in the funds sector carry significant business implications. Funds practices generate substantial revenue through formation work, ongoing advisory services, and relationship-based engagements. When experienced teams depart intact, they typically bring client relationships with them, potentially redirecting mandates away from their former firm.
The timing amplifies the story's significance. Mergers between major law firms face critical integration periods in their first months. Leadership focuses on consolidating operations, eliminating redundancies, and unifying cultures. A notable group departure just weeks into this process suggests either that Sidley executed an aggressive recruiting campaign targeting vulnerable talent, or that the Hogan Lovells-Cadwalader integration encountered early friction affecting attorney retention.
For Hogan Lovells, this represents a setback to its merger objectives. The firm likely anticipated combining complementary practices to create broader market reach and deeper expertise. Losing an established funds team undermines these synergy goals immediately.
For Sidley Austin, the move strengthens its already considerable funds practice. Sidley operates one of the market's most prominent funds groups, and adding 11 experienced lawyers expands capacity and deepens bench strength in a high-margin practice area.
The funds sector remains intensely competitive. Large