In a seismic shift within the legal realm, the longstanding New York-based institution, Stroock & Stroock & Lavan, faces dissolution, culminating in the conclusion of its illustrious 147-year legacy. The decision to close its doors follows a tumultuous year marked by a spate of lawyer departures and unsuccessful attempts at merger negotiations with larger firms. This watershed moment has catalyzed opportunities for rival law firms to acquire top-tier legal talent from the venerable institution strategically.
Strategic Maneuvers by Legal Powerhouses
Legal powerhouses such as Crowell & Moring, Hogan Lovells, Steptoe & Johnson, Squire Patton Boggs, and Thompson Coburn are at the forefront of this talent acquisition frenzy. With nimble precision, these firms have seized the moment, strategically incorporating partners and legal professionals from Stroock to fortify their ranks, both within the bustling legal landscape of New York and beyond.
Crowell & Moring's Calculated Expansion
Washington, D.C.-based Crowell & Moring has unveiled a strategic move, announcing the recruitment of former Stroock financial services litigation partner Joshua Sohn, and a cadre of nine additional Stroock lawyers. This proactive approach aligns with Crowell's commitment to enhancing its legal prowess and expanding its footprint within the fiercely competitive New York legal market.
Hogan Lovells: A Dominant Force in Recruitment
Hogan Lovells emerges as a dominant force in this recruitment surge, recently appointing 28 Stroock partners, including co-managing Jeff Keitelman and several other practice leaders. This substantial influx of legal talent positions Hogan Lovells to bolster its operations significantly within the New York legal landscape.
Alan Klinger, a stalwart co-managing partner at Stroock, has found a new home at Steptoe & Johnson, where he assumes a leadership role in the firm's labor practice. Joined by Stroock partner Dina Kolker, the duo brings extensive experience representing public sector litigation clients. This strategic move follows earlier discussions between Stroock and Steptoe about a potential merger, a prospect that failed to materialize over a year ago.
Triumphs Amidst the Dissolution
Former Stroock partners are forging new paths in prestigious law firms, exemplifying resilience and adaptability. Tom Firestone, who steered Stroock's white-collar and investigations practice, recently joined Squire Patton Boggs. At the same time, Howard Lavin, specializing in labor and employment law, embarked on a new chapter at Thompson Coburn last week.
Navigating Stroock's Unofficial Demise
While the dissolution of Stroock is not yet official, the departure of over 40 restructuring lawyers to Paul Hastings in March 2022 triggered a domino effect, prompting an exodus to other prominent firms. Before the dissolution vote, firms like Morgan, Lewis & Bockius, McDermott Will & Emery, Bracewell, and Norton Rose Fulbright had already absorbed Stroock partners who chose a different trajectory.
The legal landscape in New York is undergoing a dynamic transformation, with law firms strategically positioning themselves to capitalize on the dissolution of Stroock & Stroock & Lavan, securing top-tier legal talent. As the echoes of Stroock's legacy reverberate, a new chapter unfolds in the ever-evolving tapestry of the legal industry.
