Stroock & Stroock & Lavan continues to face challenges in finding a merger partner, and these problems have led to a loss of partners and business-side leaders from the firm. Recent attempts to rectify the situation such as shedding its pension liabilities have not stopped the firm’s attrition.
The New York Law Journal has noted a few recent departures, including Regina Robbins, Director of Talent Acquisition, and Jessica Grayson, Managing Director of Business Development and Marketing.
In an interaction with New York Law Journal, Robbins recounts that despite Stroock’s ambitions of stability and growth, the ongoing merger discussions were hampering recruitment efforts. The talks’ publicity made it challenging to recruit new partners, especially following the departure of 43 restructuring lawyers to Paul Hastings. The firm has reportedly engaged in merger talks with several law firms, such as McGuireWoods, Steptoe & Johnson, Squire Patton Boggs, and Nixon Peabody; however, they have not found a suitable partner yet, The American Lawyer revealed.
Regardless of whether it’s just rumors or confirmed news of merger talks, it’s enough to create doubts in the minds of potential recruits, Robbins said. The uncertainty surrounding the merger has further strengthened these doubts.
As Stroock continues its quest for a new merger partner, the firm is certainly hoping to resolve these issues and enter a phase of stability and growth.