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Signage is seen on the exterior of the building where law firm Cravath, Swaine & Moore LLP is located in Manhattan. REUTERS/Andrew Kelly
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(Reuters) - Kirkland & Ellis said Tuesday it has hired M&A partner Allison Wein away from Cravath, Swaine & Moore, making her the latest lawyer to decamp from the Wall Street firm.
Wein will join Chicago-founded Kirkland's corporate practice in New York. She made partner at Cravath in 2019.
Cravath has historically lost very few partners to rivals, but has seen several departures over the last year and a half amid a war for attorney talent across the industry.
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A Cravath spokesperson said Tuesday the firm wishes Wein well.
At Cravath, Wein represented Walt Disney Co in its $85 billion acquisition of 21st Century Fox and Occidental Petroleum Corp in its $57 billion purchase of Anadarko Petroleum Corp. Both deals closed in 2019.
Kirkland’s executive committee chairman Jon Ballis said in a statement Tuesday that Wein is a "rising M&A star."
Since March 2021, Cravath has lost partners to Davis, Polk & Wardwell, Sidley Austin and Freshfields Bruckhaus Deringer.
One of Freshfields' recent hires from Cravath, Damien Zoubek, now co-leads the firm's U.S. corporate M&A practice.
Cravath also hired from a rival for the first time in at least a decade last year when it brought on corporate partner David Portilla from Debevoise & Plimpton. The firm recruited a former U.S. Federal Trade Commission official later in 2021.
Cravath has been one of the last law firms to use a lockstep compensation model for partners, but in December said it was moving away from strict seniority-based pay.
That change was widely interpreted as an attempt by the firm to better retain and recruit mid-career partners, providing them with more flexibility on compensation.
Read more:
Cravath abandons strict pay model, joining most law firm peers
Freshfields lures Cravath partner as M&A practice co-head
The legal talent war that broke out in 2021 shows no sign of slowing down
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