The stream of partner departures at Dewey & LeBouef shows no signs of abating as two more senior figures have left the firm.
In New York, senior M&A partner Mort Pierce has left for White & Case with a team of up to ten partners, while in London, City chief Peter Sharp, who was only this week selected to head up the crisis committee at the firm, has departed for Morgan Lewis with fellow partners David Waldron and Nick Greenwood.
Pierce was one of the M&A team's most high-profile figures and advised on cases such as Walt Disney's $4 billion takeover of Marvel Entertainment in 2009. He was also one of the key drivers behind the merger of Dewey Ballantine and LeBouef Lamb & Greene in 2007.
Sharp, the head of Dewey's London office is a litigation partner. Earlier this week his position as City head was dissolved as he took over the leadership of the firm's strategy committee in London with a brief to consider the UK partnership's options in light of the firm's wider troubles.
Morgan Lewis chairman Francis Milone said of the hires: “Peter, Nick, and David have handled substantial and sophisticated disputes both in the UK and elsewhere in a number of key industry sectors in which the firm has many clients, including energy and financial services. Their experience representing companies and individuals around the world—from the UK to Europe, Asia, the Middle East, Africa, and the Caribbean—will be a tremendous asset to our multinational clients.”
In London, the crisis committee, formerly led by Sharp, is said to be strongly considering a formal wind down of the UK LLP's operations, which include the firm's Paris office. Assesment of the firm's liabilities is currently being led in-house by partner Mark Fennessey. As well as issues such as the payment of staff, the firm will also need to look at it's real estate contracts and consider the liability of the partnership in terms of the firm's debts.
Dewey has now lost over 100 partners worldwide since January, with network offices including Italy and Russia in the midst of discussing breakaways.
Recent departures include projects partners Jim Simpson and Stephen Jurgenson who have left for Pilsbury Winthorp, project finance partner Nabil Khodadad who has moved across to Vinson & Elkins and tax specialaist Julio Castro who has joined a number of other ex-Dewey lawyers at KPMG.