September 8, 2011 12:58 PM
Cadwalader Senior Partner Block Jumps to Greenberg Traurig
Posted by Brian Baxter
Greenberg Traurig has named former Cadwalader, Wickersham & Taft senior partner Dennis Block to the newly created post of senior chairman for global M&A, according to a press release issued by the firm Thursday.
Block, who did not immediately respond to a request for comment, joined Cadwalader in 1998 in a high-profile lateral move from Weil, Gotshal & Manges. The 69-year-old lawyer is considered a major Wall Street dealmaker. Among the significant transactions on which Block has played a leading role: advising pharmaceutical giant Pfizer on its $68 billion takeover of rival Wyeth in 2009.
Block was named a Dealmaker of the Year in 2010 by The American Lawyer for his work on that matter, and earlier this year he led a Cadwalader team advising power provider DPL on its $4.7 billion acquisition by AES Corp.
In 2008 The American Lawyer pegged Block's book of business at between $40 million and $70 million—an estimate that likely did not account for the collapse of one key corporate client, Bear Stearns, at the start of the financial crisis three years ago.
Block's move to Greenberg Traurig becomes effective Monday. Once there, he is expected to work closely with former Cadwalader restructuring cochair Bruce Zirinsky, who joined Greenberg Traurig from Cadwalader in January 2009. (Zirinsky had moved with Block to Cadwalader from Weil in 1998.)
In a statement provided to The Am Law Daily, Cadwalader chairman Christopher White thanked Block for his "many valuable contributions during his 13 years" at the 480-lawyer firm. "We respect him and his contribution to [Cadwalader] and wish him well in the future," White said in the statement.
According to Am Law 100 financial data, Cadwalader saw gross revenue drop nearly 6 percent in 2010 to $429.5 million, while profits per partner increased more than 2 percent to $2.39 million.
Greenberg Traurig, meanwhile, saw its gross revenue increase 4.3 percent in 2010 to $1.2 billion, while profits per partner remained flat at $1.32 million. The 1,700-lawyer firm has been busy acquiring new partners in recent years, according to our previous reports.
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