07:43, April 03 769 0

2018-04-03 07:43:09
DLA Piper loses near 50-strong cohort to McDermott in the US

Nearly 50 partners, counsel and associates have decamped from DLA Piper to McDermott Will & Emery in the United States, as the US firm has also signalled its intentions to add a fourth Californian office.

McDermott will launch in San Francisco later this year adding to its existing strength in Los Angeles, Orange County and Silicon Valley.

The new hires are thought to be adding roughly $100m to McDermott’s topline.

The US firm has taken a number of key partners from DLA Piper in this move, including global real estate finance co-chair Jeffrey Steiner who joins as global head of real estate finance and will be a member of McDermott’s management committee.

Steiner said: “We are looking forward to integrating our domestic and international experience into the firm’s global platform to help meet the growing needs of clients at the intersection of finance and real estate.

“McDermott has such highly-respected transactions and real estate teams, and we are anxious to collaborate with them to grow and cultivate the firm’s real estate finance offerings in the United States, Europe and throughout the world.

Steiner follows DLA Piper Americas co-managing partner Michael Poulos and employment global co-chair Michael Sheehan who also left to join McDermott earlier in the year.

McDermott chairman Ira Coleman said: “Real estate finance is an important component of our corporate platform, and adding Jeffrey and his team will do even more to deepen and extend the services we offer to our global institutional clients.

“This team enriches our ability to partner with our clients across the legal spectrum to support their goals—and that’s what we love.”

Steiner was in his role for nearly 10 years since joining from Thelen Reid Brown Raysman & Steiner following its collapse during the 2008 financial crisis.

A host of other US-based partners have made the move across including real estate finance partners Scott Weinberg Robert Unger; employment partners Ellen Bronchetti, Rachel Cowen, Pankit Doshi, Dave Durham, Chris Foster, Ron Holland, Maria Rodriguez, Marilyn Pearson, Michelle Strowhiro; and litigation partners Seth Friedman, Nicole Figueroa, Jason Gerstein, Tim Hoeffner, Raphael Larson, Mike Piazza and Larry Wojcik.

DLA Piper was approached for comment.