In a recent development in the legal sector, top law firm Loeb & Loeb announced the hiring of seven partners from Morrison Cohen. The move came as part of the firm’s strategy to augment its platform to accommodate increased deal activity and expand to high-growth industry sectors.Bloomberg Law reported on this significant team shift in the industry.
New York-based partners Andrew Arsiotis, Stephen Budow, Henry Zangara, Michael Martell, Matthew Friedman, and Steven Rockoff are set to enhance Loeb & Loeb’s capital markets and corporate division. The seventh new hire, Michael Barry, is slated to join the firm’s advanced media and technology division, further bolstering its luxury brands practice group.
The firm’s Co-Chair, Mitchell Nussbaum, highlighted the importance of this strategic hiring, stating in the official announcement that the firm’s focus lies in capturing increased deal activity and growth in high-value sectors, such as luxury brands.
These strategic hires from Loeb & Loeb account for the majority of a mass departure from Morrison Cohen. Morrison Cohen recently reported the departure of nine partners, alongside a ten percent revenue growth last year.
Loeb & Loeb, that maintains approximately 450 lawyers across eight offices in the United States and Asia, is set to further strengthen its practice with this new addition. On the other hand, New York-based Morrison Cohen houses around 130 lawyers at present.