Following a year that saw structured finance deal work crater due to the ongoing financial crisis, Cadwalader, Wickersham & Taft said Monday that its average profits per equity partner fell more than 30 percent in 2008, The American Lawyer reports.
On average, Cadwalader’s equity partners will take home profits of $1.88 million, down from $2.725 million in 2007. Revenue fell to $506 million, down 13.8 percent from $587 million. Chairman W. Christopher White, though, says the firm is now positioned for 2009 following a series of layoffs in its troubled structured finance practice.
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