Following reports of financial strain at Stroock & Stroock & Lavan and the search for a merger partner, Hogan Lovells has seized an opening to deepen its corporate foothold in New York. In line with his ambitious plans for the firm’s advancement, Hogan Lovells CEO Miguel Zaldivar – who was recently reelected – has extended a welcome to over 30 partners from Stroock’s real estate, corporate, and litigation practices.
This alignment with Stroock is set to elevate the New York profile of the trans-Atlantic firm Hogan Lovells, broadening its potential to engage high-calibre clients. The acquisition of 28 Stroock partners across several key US cities, although fewer than initially projected, includes a number of Stroock’s practice group leaders.
Hogan Lovells has previously taken measured strides in building its corporate practice in New York, as stated by a New York-based partner recruiter, and this move certainly stands to scale up its profile in New York’s intensely competitive market. The Stroock group joining Hogan Lovells notably includes representation for McKinsey & Co. and J.P. Morgan Asset Management among others.
While this venture is expected to bolster Hogan Lovells’ presence in New York, and despite the firm’s noteworthy advances in its corporate practice, some recruiters have observed a slower pace in the lateral hiring process when compared to other market competitors such as Kirkland & Ellis and Paul Hastings.
Despite this, CEO Zaldivar maintains that Hogan Lovells places a premium on the integration of partners, thus validating a slower yet more strategic growth plan.
More details on this development can be found on Law.com.