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Timothy Pohl will leave Skadden, Arps, Slate, Meagher & Flom to become a managing director in the restructuring group at financial services firm Lazard. Pohl was one of three co-heads of Skadden’s corporate restructuring group.
Last spring Skadden promoted the 42-year-old Pohl to become one of three co-heads of Skadden’s 100-lawyer corporate restructuring group, along with John “Jack” Butler, Jr., and J. Gregory Milmoe.
The firm ranked first in the Am Law 100 with gross revenues of $2.17 billion and profits per equity partner of $2.28 million.
Pohl’s departure is a blow to the firm, as it comes at a time when bankruptcy and restructuring work is at a premium.
“Tim is a spectacular lawyer and a wonderful human being and while we wish him well, we will miss him enormously,” Milmoe says. “We’re not losing a partner but gaining a client.”
Milmoe says Skadden isn’t immune to losing top talent to the business side, noting that former restructuring partner David Kurtz left for a managing director position at Lazard in 2002. Pohl will now join Kurtz, who coheads Lazard’s restructuring group, with both working out of Chicago.
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Lazard is the parent company of Lazard Group LLC, a global, independent investment bank with approximately 2,400 employees in 41 cities across 24 countries throughout Europe, North America, Asia, Australia, Central and South America.
Via The AmLaw Daily.
