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McDermott Will & Emery has welcomed Elai Katz, the former head of Cahill Gordon & Reindel’s antitrust and trade regulation group. Katz’s transition to McDermott comes as part of his new role as a partner within the regulatory practice group in New York, adding to the list of prominent partners who have recently exited Cahill.
Katz’s departure from Cahill follows a series of high-profile exits, including Kimberly Petillo-Décossard and Ross Sturman, who joined White & Case in March, and Brad Bondi, who moved to Paul Hastings. The shifts also extended to the debt finance sector, with Josh Zelig, Marc Lashbrook, and David Barash relocating to Paul Hastings, while corporate partners Corey Wright and Lisa Collier found a new home at Latham & Watkins.
Cahill’s revenue suffered a significant drop of almost 20%, coupled with a 27% decrease in profits, largely attributed to a slowdown in high-yield debt work. Despite these setbacks, the firm has made notable additions to its team, such as hiring Joel Moss, formerly of Shearman & Sterling, and Gerald Flattmann, who was the global chair of life sciences patent litigation at King & Spalding.
Katz, known for his expertise in diverse antitrust matters encompassing mergers and acquisitions, litigation, counseling, and government investigations, has been involved in representing major players like Shutterstock, Inc., ICON plc, and Arch Capital Group Ltd. in various high-value deals. His experience was integral to the successful defense of Credit Suisse in a foreign exchange markets class action trial in the Southern District of New York.
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Ray Jacobsen, the global head of McDermott’s antitrust practice, expressed confidence in Katz’s ability to navigate the complexities of antitrust law in the evolving legal landscape. McDermott, which already boasts a robust global antitrust practice with around 65 specialized lawyers, expects Katz’s arrival to further solidify its position as a go-to destination for antitrust matters, particularly in New York.
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Katz acknowledged the opportunity to contribute to McDermott’s antitrust endeavors, citing the firm’s already established global practice as a strong foundation. He highlighted the dynamic nature of antitrust enforcement, with regulatory agencies continually adapting their strategies, and emphasized the importance of maintaining a balanced approach, respecting the courts’ cautious stance even as regulatory efforts intensify.
Sabina Lippman, a partner and co-founder of Lippman Jungers, a global legal recruitment firm, played a pivotal role in facilitating Katz’s transition to McDermott.
As regulatory landscapes shift and antitrust challenges become more intricate, Katz’s wealth of experience is poised to enrich McDermott’s capabilities. The legal industry’s watchful eye remains fixed on how this move will contribute to the evolving field of antitrust law.
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