Gibson Dunn Snags Wachtell Litigation Partners in Rare Talent Heist

• Gibson Dunn poached six litigation partners from Wachtell, Lipton, Rosen & Katz.
• The group includes executive committee co-chair William Savitt, who will co-chair Gibson Dunn's litigation practice.
• Wachtell's high per-partner profits, reportedly exceeding $12 million, are a major draw for lawyers.
• This move could have significant implications for law firms across the industry, potentially leading to a reevaluation of retention strategies and compensation structures.

Wachtell generally doesn't lose partners. Something about the per partner profits figure running north of $12 million keeps people in the fold.

In a significant move, Gibson Dunn has successfully poached six litigation partners from Wachtell, Lipton, Rosen & Katz. The group includes executive committee co-chair and litigation co-chair William Savitt, who will co-chair Gibson Dunn's litigation practice. According to reports, the deal was facilitated by a coffee meeting between Savitt and Gibson Dunn trials co-chair Orin Snyder. This move marks a rare instance of Wachtell losing partners, with the firm typically retaining its top talent due to its lucrative per-partner profits, reportedly exceeding $12 million.

Wachtell's high per-partner profits have long been a major draw for lawyers. The firm's ability to retain top talent is largely attributed to these figures, which are reportedly north of $12 million. However, the departure of six partners, including Savitt, suggests that even Wachtell may not be immune to the allure of higher compensation packages. This development could have significant implications for law firms across the industry, potentially leading to a reevaluation of retention strategies and compensation structures.

While Gibson Dunn has secured six top litigation partners from Wachtell, it appears that the deal was initially intended to include seven partners. The Financial Times reported on this aspect of the story, which raises questions about what may have gone wrong in securing the seventh partner. This development highlights the complexities involved in lateral hires and the challenges law firms face in attracting and retaining top talent.

Lawyers should take note of the high per-partner profits at Wachtell Lipton Rosen & Katz, which may indicate a trend in law firm compensation and potentially impact their own firms' retention strategies.

Source: Original reporting via Financial Times