In a strategic move to bolster its legal prowess, U.S. law firm Steptoe & Johnson LLP announced on Wednesday that it has successfully recruited a significant group of lawyers from Stroock & Stroock & Lavan. This New York-based firm has experienced a series of departures amid ongoing merger considerations.
The Washington, D.C.-founded Steptoe has welcomed 35 new team members from Stroock, comprising 27 lawyers and eight business professionals, as confirmed by a Steptoe spokesperson.
These highly-skilled lawyers, including key practice leaders from Stroock, will substantially enhance Steptoe's capabilities in financial services, class action defense, and insurance and reinsurance across major cities such as New York, Los Angeles, and Chicago. The decision by these attorneys to join Steptoe coincides with the dissolution of merger talks between Stroock and Nixon Peabody, which were reported earlier this month.
Over the past year, Stroock has been exploring potential mergers with several other firms, and this latest talent migration follows a prior loss of 43 restructuring lawyers to Paul Hastings in March 2022.
Addressing the recent developments, a spokesperson from Stroock commented, "Our firm's core practices, known for their exceptional performance and profitability, remain strong and continue to provide top-tier services to our valued clients." The spokesperson also confirmed that ongoing discussions with other firms are progressing positively.
Among the notable hires at Steptoe is partner Julia Strickland, formerly the managing partner of Stroock's Los Angeles office and the head of the firm's national financial services litigation, regulation, and enforcement group. Michele Jacobson, former chair of Stroock's general litigation practice, and Robert Lewin, who co-chaired the insurance and reinsurance group, will be joining Steptoe as senior counsel.
Other distinguished partners making the transition include Stephen Newman, a class action defense lawyer, and Chris Fredrich, who are both based in Los Angeles and are focused on civil litigation for financial institutions. Moreover, Andrew Owens, an expert in financial services regulatory and public policy, will join Steptoe in New York.
Stroock has experienced smaller groups of lawyers departing for other firms in recent months, including two insurance litigation partners, 10 consumer financial services lawyers, three private client lawyers, and five intellectual property litigators.
With these new additions to its legal team, Steptoe & Johnson LLP is positioning itself for continued growth and success in the legal market. At the same time, Stroock & Stroock & Lavan remains dedicated to pursuing its strategic goals during this transformative period.
