Orrick has staged a raid worthy of Wall Street, swiping an eight-partner finance team from Cadwalader—four in London, four in the US—just as CLOs and private credit are reshaping global markets, Global Legal Post reports.
The London Line-Up
Leading the London contingent is David Quirolo, (pictured) flanked by Claire Puddicombe, Daniel Tobias and Alexander Collins. These aren’t anonymous back-office lawyers—they’re the kind of CLO names that bankers jot down like cheat-sheets. No shock, given private-credit-backed CLOs made up 12% of the market and 18% of issuance in 2024, according to JPMorgan.
The US Reinforcements
Stateside, Cadwalader’s DC managing partner Gregg Jubin has jumped ship, joined by Charlotte partners Joe Beach, Nate Spanheimer and Skyler Walker. Jubin’s CLO résumé includes co-leading Morgan Stanley’s $220m BlackRock-linked deal in 2022, hardly small potatoes.
Associates in Tow
Reports suggest Orrick will also pick up several associates, further boosting its structured finance ranks. For Orrick, this is more than a lateral coup—it’s an arms race, and they’ve just outgunned one of Wall Street’s most recognisable finance firms.
Cadwalader’s Response
Cadwalader’s public spin amounted to a polite shrug: a reminder they’re “still terrific” while the competition carted off their A-team. In BigLaw’s endless battle for talent, that sounds less like a strategy and more like a consolation prize.
For Orrick, the hire cements its status as a cross-Atlantic structured finance powerhouse. For Cadwalader, it’s just another Monday.
For more on BigLaw’s lateral battles, check out LawFuel’s latest coverage.
