In a stunning reshuffle in legal circles, more than 30 partners from the law firm Stroock & Stroock & Lavan are poised to move to Hogan Lovells, putting their previous employer on the precipice of dissolution. Among the partners who are set to join Hogan in this transition is Jeff Keitelman, the New York-based co-managing partner of Stroock and co-chair of its real estate group.
The consequences of this attrition are significant, eliminating over half of Stroock’s partnership. This nearly century and a half old firm, renowned for its leading restructuring and real estate practices, is now witnessing a severe fracturing of these groupings.
This development comes in the wake of Stroock’s repeated unsuccessful attempts to secure a merger partner. It was reported that Pillsbury Winthrop Shaw & Pittman has recently called off their tie-up discussions with Stroock, citing “more immediate financial and other risks” faced by the latter firm.
The contingent joining Hogan includes not just real estate, but also litigation and transactional lawyers. According to Hogan Lovells CEO, Miguel Zaldivar, “We are on a mission to grow in the U.S., and this is an outstanding opportunity to deliver on our strategy to invest in premium practices and expand our client relationships.”
It is anticipated that the migration to Hogan will become official next month. It must be noted that this isn’t the first time Stroock has experienced such attrition. Just last year, over 40 bankruptcy lawyers left Stroock to join rival Paul Hastings.
The particulars of this considerable shift in the legal landscape were first reported by
The American Lawyer.