Cadwalader Wickersham & Taft LLP announced the firm’s next chairman this week. The law firm has decided that prominent deal lawyer Jim Woolery would be replacing current chairman Chris White. After working in-house at J.P. Morgan for two years, Woolery returned to private practice last February and joined Cadwalader. Currently Woolery is the firm’s deputy chairman.
According to Woolery’s former colleagues at Cravath Swaine & Moore LLP, the Wall Street Journal reported that, he had been long interested in running a law firm. Woolery was among a group of young partners who had brought about an aggressive style of conducting mergers and acquisitions at Cravath.
Woolery said in an interview that his immediate future plan is to keep Cadwalader at a manageable size while presenting clients with advice not only related to current work but also related to future moves that could benefit their businesses.He further added, “We have been able to get some market leading transactions … our capital markets and securitization business has really been screaming in the last several quarters.”
With Woolery moving up, Pat Quinn, the co-chair of the firm’s capital markets department will become the firm’s managing partner and would be in charge of running the firm’s operation. Commenting on the role of Woolery and Quinn, White, the current chairman said, “For Jim, it’s very much an outward-facing role,” while Quinn would be handling “a very inward-facing, partner-centric role.”
Woolery, who was involved in bringing to power the firm’s corporate practice, had brought a $24.9 billion deal to the firm. Woolery said, “We want to be on the high end of the market. We are not going to try and do every kind of deal. You are not going to see us adding hundreds and hundreds of lawyers. We are very clear on where we want to go.”
Summary:
Cadwalader Wickersham & Taft LLP announces the firm’s next Chairman, Jim Woolery to replace the current chairman Chris White. Woolery joined Cadwalader last February and is now the firm’s deputy chairman. Woolery aims to keep Cadwalader on the high end of the market and not enter into every kind of deal to add hundreds of lawyers.