Alston & Bird's Strategic Approach to Growth After Cadwalader Merger Talks
The American Lawyer explored Alston & Bird's position following the conclusion of merger discussions with Cadwalader Wickersham & Taft, examining what's next for the Atlanta-founded Am Law 100 firm after Cadwalader announced plans to combine with Hogan Lovells.
Industry observers believe Alston evaluated potential combinations carefully and ultimately passed on Cadwalader due to financial and cultural considerations. The decision reflects Alston's market strength and ability to be strategic about growth opportunities.
Jon Truster, a partner at Macrae, emphasized that Alston remains in a strong position. "The firm's fine," Truster told The American Lawyer. "I don't view this as the firm being jilted or left at the altar or anything like that." He noted that Alston has grown its New York presence to nearly 200 lawyers, predominantly in finance, adding that "the right large group of lawyers would be very appealing to Alston and any other firm in New York of that size."
Alston's growth trajectory supports its strategic approach. Since 2020, the firm has increased revenue by 14% annually and overall headcount by 20%. Last year, revenue per lawyer rose 11% to $1.424 million, while profits per partner grew 25.6% to $4.086 million. With strong financials, expanding presence in key markets and proven ability to attract lateral talent, the firm can afford to be patient and selective in pursuing strategic opportunities.
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