Orrick is hiring an eight-partner finance team from Cadwalader, including four partners each in London and the US, with the Stateside hires set to open a new North Carolina base for the firm.
The City quartet, who specialise in collateralised loan obligations (CLO), is led by David Quirolo, a Legal 500 Hall of Famer for securitisation who has spent more than a decade at Cadwalader after joining from Ashurst in 2014.
He will be joined at Orrick by three other London partners – Claire Puddicombe (also formerly of Ashurst), Daniel Tobias and Alex Collins, who is ranked by Legal 500 as a next generation partner.
The partners making the move in the US are Washington DC managing partner Gregg Jubin and a trio of capital markets and CLO partners in Charlotte, North Carolina – Nathan Spanheimer, Joseph Beach and Skyler Walker.
According to a source familiar with the matter, Spanheimer, Beach and Walker will open a new office in Charlotte for Orrick, further extending the firm’s East Coast reach after it launched in Miami in July.
The hires will see Orrick add significant heft to its London finance bench, coming after the departure of a four-lawyer team to Dechert in June, including partners Sushila Nayak and James Jirtle.
The exits for Cadwalader, meanwhile, come on the back of the departure of a 13-strong team to King & Spalding in summer 2024. That team included Legal 500 fund finance leading individual Samantha Hutchinson as well as partners Mathan Navaratnam, Nathan Parket, Sukhvir Basran.
The firm’s London office also recently saw the departure of securitisation and structured products partner Richard Hanson, who left in July just nine months after joining from Morgan Lewis. However, that same month Cadwalader hired leveraged finance partner Edward Holmes from Paul Hastings.
A Cadwalader spokesperson said: ‘We wish our departing colleagues well. Cadwalader remains on track to have one of its best years in the firm’s history and we continue to be bullish on our growth strategy.’
Orrick declined to comment.
