Cadwalader Chair-Elect's Exit A Hiring Warning For BigLaw

Law360, New York (January 20, 2015, 8:57 PM EST) -- The decision of Cadwalader Wickersham & Taft LLP's chair-elect to leave the firm and start an investment fund shows how BigLaw is struggling to compete with the massive paydays and deal-making power of hedge funds, experts say.

Just a year after the firm named Jim Woolery as its next chairman, Cadwalader leaders announced his sudden resignation and Patrick Quinn’s election by the board over the weekend as managing partner.

Woolery, who joined Cadwalader in 2013 from JPMorgan Chase & Co., left the firm to co-found a new investment firm with Douglas Braunstein, who himself recently left JPMorgan as a vice chairman....

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