Slaughter and May has lost long-standing corporate partner Mark Zerdin to Paul Hastings, in a rare departure from the City firm’s famously tight-knit lockstep partnership.
The move hands Paul Hastings a senior M&A name as it rebuilds in London, adding several new names in recent months.
Slaughter and May corporate partner Mark Zerdin is leaving the firm for Paul Hastings in London, in a rare defection from one of the City’s most tightly held partnerships.
Zerdin joined Slaughters in 2003 and made partner in 2007. He is co-head of the firm’s sport practice and leads its Latin America group, advising on public takeovers, private M&A, PE investments and joint ventures.
In a brief statement, Slaughter and May said: “We confirm that Mark is retiring from the partnership and we wish him well.”
The move was first reported by The Lawyer.
A rare Slaughters exit
Partner departures from Slaughters are unusual. The firm remains the only major UK player still operating a traditional pure lockstep, with remuneration based on seniority rather than individual performance.
Zerdin’s exit follows two partner departures last year. Finance partner Oliver Wicker, who headed the firm’s derivatives practice, left for Simmons & Simmons, while M&A partner Paul Mudie also left, reportedly for personal reasons.
The timing is interesting, coming around the same time Wachtell - another elite M&A powerhouse built on a pure lockstep model - has lost its fourth partner since the start of the year in New York, prompting fresh debate about the resilience of seniority-based systems in an increasingly aggressive lateral market.
A boost for Paul Hastings
Paul Hastings has been rebuilding its City bench after a series of exits last year. In recent weeks it has added private equity partner Ferish Patel from Cooley and Macfarlanes tax partner Alicia Osei.
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