Sidley Austin snaps up Weil partner as Texas exodus continues
The exodus of partners from Weil Gotshal & Manges' Texas offices has continued, as the New York-based firm continues to push through a major redundancy process. On Monday (7 October) Sidley Austin confirmed it had recruited Weil's Dallas-based private equity and M&A partner Scott Parel - the latest in a string of hires from the firm.
October 09, 2013 at 05:44 AM
2 minute read
The exodus of partners from Weil Gotshal & Manges' Texas offices has continued, as the New York-based firm continues to push through a major redundancy process.
On Monday (7 October) Sidley Austin confirmed it had recruited Weil's Dallas-based private equity and M&A partner Scott Parel – the latest in a string of hires from the firm.
At Sidley, Parel will re-join an eight partner team – including former Weil executive committee member and commercial litigation co-head Yvette Ostolaza – which made the switch last month.
The eight-strong team features six commercial litigators and two private equity partners, including the former co-head of Weil's banking and finance practice, Angela Fontana.
One London-based Sidley partner described the hires as a "stunning" group of lawyers.
Speaking at the time, Larry Barden, vice-chair of Sidley's management committee said: "This highly talented group provides an exciting opportunity to expand our litigation, finance and private equity capabilities nationally.
"Given that Yvette held a senior leadership role at her prior firm, she is a natural fit to succeed [James Bradley] in leading the Dallas office and to assume a leadership role in our national complex commercial litigation practice.
In June, Weil announced it was cutting around 170 jobs, comprising some 60 associates and roughly 110 support staff positions, in a layoff round predominantly focused on the firm's domestic US offices.
Speaking to Legal Week, one New York-based recruiter said the partner exits in Dallas had come as a surprise to management, which had been focusing on other US offices.
Other partners to have left Weil's Texas offices include Dallas-based private equity and M&A partner Michael Saslaw, who has joined Vinson & Elkins, and Houston patent litigation partner Nicolas Barzoukas, who is moving to Baker Botts.
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