Among those leaving are John Altorelli, who led a group of mergers and acquisition at Dewey and who will become co-chairman of DLA Pipers United States finance practice. Alexander Fraser, Gerald Francese and Patrick Costello are following him out. Said Altorelli in a statement:
“DLA Piper’s strong global platform and commitment to building the leading corporate and finance practice in New York, the U.S. and the world made this a natural destination for us,” he said, combining high-toned flattery of his new employment with the standard self praise of “only the best could possibly suit me.”
Dewey remains stoic, making no comment. They had their management overhauled last week, now that 40 out of 300 partners have left this year. Steven Davis, the firm’s chairman, was also stripped of his title and joined with four other partners in an office of the chairman.
Meanwhile, DLA licked its chops with the statement, “It’s my pleasure to welcome John and his team to the firm. Their collective experience and market relationships will enhance our ability to serve the world’s industry leaders in their transactions. They will also create valuable synergies with our banking, finance, insurance, private, equity and fund formation practices as we work with clients in the most important financial centers and emerging markets.”