Freshfields has added a pair of partners to its New York bench this week, bringing in laterals from Weil and Cravath as the firm looks to maintain recent levels of investment in the US.
White-collar and investigations litigator Daniel Stein joins from Weil, where he was co-head of the global white-collar practice. At Freshfields, he will co-head the firm’s global investigations group.
The hire comes a day after the firm hired M&A partner Bethany Pfalzgraf. Pfalzgraf joins from Cravath, and her move brings the number of ex-Cravath partners at Freshfields’ New York office to five.
Stein spent four years at Weil after nearly six years at Mayer Brown. He returned to private practice after two and a half years in the US Attorney’s Office for the Southern District of New York, where he was chief of the Criminal Division.
His departure is the latest in a series of exits from Weil, with high-profile partners leaving for firms including Paul Weiss and Simpson Thacher.
He brings experience across a range of matters from government investigations to first-chair trial work.
Beth George, head of Freshfields’ US litigation, arbitration, and global investigations practice, said: ‘Dan has a well-earned reputation as one of the most thoughtful and capable white-collar lawyers in New York. What sets him apart is not just the range of his experience but the way he operates with clients.’
Pfalzgraf spent 12 years at Cravath, and made partner there in 2022. She is the latest Cravath alum to make the move to Freshfields, following M&A partner Keith Hallam, who joined the firm in July after a short stint at White & Case.
Pfalzgraf’s practice focuses on public and private M&A across sectors including tech and life sciences. In April, she co-led the Cravath team that advised Thermo Fisher Scientific on the $1.075bn sale of its microbiology business to European PE house Astorg. Earlier in her career, she was on the team that advised Thermo on its acquisition of PFD, valued at $20.9bn.
Freshfields US managing partner Damien Zoubek, who joined the firm from Cravath in 2021, said of the hire: ‘Bethany is an exceptional lawyer whose technical excellence, sound judgment and business-minded approach make her a trusted adviser on clients’ most complex matters.’
The hire of Stein comes as Freshfields looks to bolster its litigation offering in the US, after its stateside buildout so far has focused mainly on M&A and private capital.
The firm has built a strong corporate M&A offering with the hires of stars such as Zoubek and Ethan Klingsberg, who joined from Cleary Gottlieb in 2019. Several partners, including global M&A co-head Jenny Hochenberg, have followed Zoubek from Cravath.
This June, Zoubek was appointed US managing partner of Freshfields.
In a statement about Pfalzgraf’s hire, Hochenberg said: ‘Having known Bethany and worked alongside her earlier in our careers, I’ve seen the judgement, technical skills and work ethic she brings to her clients. She is a highly respected M&A lawyer and will be a tremendous asset to our clients and our team.’
Stein’s hire comes on the same day that Linklaters lured Wachtell partner Mark Gordon, who has joined the firm as Americas managing partner and global M&A co-chair.
For its part, Weil has also been active on the laterals market, bringing in banking and finance partner Damian Ridealgh, who returned to the firm this week three years after he left for Freshfields.
