Cadwalader posts stagnant profits after year of investment

Cadwalader Wickersham & Taft has posted flat average profits for 2011 after a year of investment that saw three office launches and a series of hires.

Last year Cadwalader opened offices in Houston, Hong Kong and Brussels following the hire of Linklaters competition partner Alec Burnside. The firm also hired a nine-partner, 35-person team primarily composed of energy lawyers from McDermott Will & Emery.

Greg Petrick, the firm’s new London managing partner, who has been brought in to oversee a period of expansion in the City, said Cadwalader had “stabilised” in 2010 and invested in 2011 after a difficult period between 2007 and 2009.

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