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History
Cadwalader's longstanding tradition of providing our clients with unparalleled service and legal expertise began with the firm's founding in 1792. As one of the nation's oldest law firms (and the oldest continuing Wall Street law practice in the United States), our growth and development often paralleled the major economic, social, and political events that have shaped our nation and the world. The historical context behind our evolution from a one-person law practice to a thriving international law firm spans over 230 years.
The Growth of New York and the Legal Practice
1792 George Washington is reelected President, and Wall Street...
George Washington is reelected President, and Wall Street is in its infancy as a financial center. John Wells, an orphan from Otsego County, New York, starts a law practice in lower Manhattan.
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1818 Wells establishes one of the first law partnerships...
Wells establishes one of the first law partnerships in the nation with George Washington Strong, a prominent member of New York society. Their practice focuses on commercial claims, litigation, maritime law, real estate and wills, and their clients include New York banks, insurance companies, businesses and members of prominent New York families.
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1820 New York's population swells to 123,000 inhabitants...
New York's population swells to 123,000 inhabitants, making it the nation's largest city and North America's largest port.
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1823-78 After the deaths of Wells (1823) and Strong (1855)...
After the deaths of Wells (1823) and Strong (1855), descendants of Strong and others continue the Firm. By 1878, Charles Strong heads the Firm, representing the leading business, social and cultural organizations of the day. Lawyers are generalists, working on a variety of issues. Partnerships are informal arrangements, and law firms are extensions of partners' personalities and reputations.
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1878 John L. Cadwalader, a former Assistant Secretary of State...
John L. Cadwalader, a former Assistant Secretary of State, joins Strong, catapulting Strong & Cadwalader into the ranks of elite firms representing major corporations.Close
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The Industrial Age and the Birth of the Corporate Law Firm
1880 Rockefeller, Vanderbilt and Carnegie rule the day, controlling...
Rockefeller, Vanderbilt and Carnegie rule the day, controlling nationwide markets through trusts and holding companies. To curb the appetites of these "Robber Barons" and to insure free competition, government regulations are introduced. Cadwalader lawyers develop regulatory expertise to negotiate and defend the interests of business clients.
On the technological front, Cadwalader introduces the typewriter and telephone to its offices. Ever innovative, the Firm establishes associates positions, replacing the system of unpaid law clerkships. Propelled by changes in the business and legal culture, the modern corporate law firm is born.
On the technological front, Cadwalader introduces the typewriter and telephone to its offices. Ever innovative, the Firm establishes associates positions, replacing the system of unpaid law clerkships. Propelled by changes in the business and legal culture, the modern corporate law firm is born.
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1883 George W. Wickersham, an antitrust expert, joins the Firm...
George W. Wickersham, an antitrust expert, joins the Firm. In 1909, he interrupts his practice to serve as the U.S. Attorney General under President Taft.Close
1889 Henry W. Taft joins the Firm. Renowned for his corporate...
Henry W. Taft joins the Firm. Renowned for his corporate antitrust defense work and railroad expertise, he is appointed Special Assistant to the U.S. Attorney for the Southern District of New York in 1905.
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World War I through the Great Depression
1914 War is declared in Europe. The Firm's name becomes...
War is declared in Europe. The Firm's name becomes Cadwalader, Wickersham & Taft as attorneys continue to represent a cross-section of local and national businesses, including financial institutions, private investment bankers, large commercial banks, major industrial and transportation concerns, and life insurance companies.
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1917 The United States enters the war. Cadwalader's partners and...
The United States enters the war. Cadwalader's partners and associates serve in Washington and on the battlefields.Close
1929-30 The Great Depression hits. Railroad and corporate...
The Great Depression hits. Railroad and corporate reorganizations, and real estate transactions and foreclosures dominate the Firm's work. The Firm handles two of the most publicized cases of the era: the Gloria Vanderbilt custody case and the copyright infringement suit involving Gone with the Wind.
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World War II
1941 Lawyers and staff leave the Firm to serve in the war effort...
Lawyers and staff leave the Firm to serve in the war effort.
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1942 Catherine Noyes Lee, a graduate of New York University Law...
Catherine Noyes Lee, a graduate of New York University Law School, becomes a partner, the first woman partner of a major Wall Street firm. Half a dozen women lawyers join the Firm during the war.Close
1945 Henry Taft dies on August 11, 1945, the day after the Second...
Henry Taft dies on August 11, 1945, the day after the Second World War ends.
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The Boom Years
1950-60 The American economy experiences unprecedented...
The American economy experiences unprecedented growth following the war. By the early 1960s, Cadwalader's practice includes complex tax, shipping, mergers and acquisitions, international finance and trademark matters, as well as litigation, real estate, general corporate, and trust and estates work. The Firm opens its Washington D.C. office in 1967.
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Lawyers Become Specialists
1970-80 Cadwalader's litigation practice expands, fueled by...
Cadwalader's litigation practice expands, fueled by changes in health, environmental, securities, discrimination and product liability law. Cases become more complex, drawing together lawyers with corporate, securities, antitrust, bankruptcy and environmental expertise. Litigation in the financial arena increases dramatically, as insider trading and white-collar crimes are aggressively prosecuted. The Firm's high-profile cases include Tavoulareas v. The Washington Post, the Agent Orange class action suit, the Dalkon Shield class action suit and the Fund of Funds case.
Securitization, the creation of financial products, becomes the Firm's largest practice area by the 1980s. Cadwalader pioneers the creation of mortgage- and asset-backed securities, including pass-through certificates, guaranteed mortgage certificates and collateralized mortgage obligations. The Firm also establishes a leading commodities swaps and derivatives practice.
Securitization, the creation of financial products, becomes the Firm's largest practice area by the 1980s. Cadwalader pioneers the creation of mortgage- and asset-backed securities, including pass-through certificates, guaranteed mortgage certificates and collateralized mortgage obligations. The Firm also establishes a leading commodities swaps and derivatives practice.
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Eve of the millennium
1992 Cadwalader celebrates its bicentennial...
Cadwalader celebrates its bicentennial.
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1996 The Firm establishes an office in Charlotte, North Carolina...
The Firm establishes an office in Charlotte, North Carolina, the nation's second largest financial center.
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1997 Cadwalader opens a London office to serve the global financial...
Cadwalader opens a London office to serve the global financial markets.
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The Millennium
2001 Sharing in the world's sorrow, Cadwalader personnel offer...
Sharing in the world's sorrow, Cadwalader personnel offer assistance to the victims of, and families and businesses affected by, the September 11 terrorist attacks in New York and Washington.
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2002 The Firm's London office expands to new space, further...
The Firm's London office expands to new space, further illustrating Cadwalader's commitment to global growth.
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2005 Cadwalader's New York headquarters moves to the...
Cadwalader's New York headquarters moves to the World Financial Center, a location selected because it allows the firm to remain downtown and also affords expansion possibilities. As a result, the firm is able to not only enjoy commanding views of the city but access to state-of-the-art technology, the ability to customize a work environment tailored to the needs of a 21st century law firm and easy accessibility to and for the firm's clients. The move is heralded as one of the most important, and largest, leases completed in lower Manhattan in 2004, for keeping jobs in the business community, and for helping to sustain small businesses who rely on customers and foot traffic created by firms like Cadwalader.
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2006 Our Charlotte Office celebrates ten years of growth...
Our Charlotte Office celebrates ten years of growth and innovation! While we may still be youngsters in Charlotte, our commitment to the Queen City is backed by over 225 years of outstanding client and community service.
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2009 Cadwalader's D.C. office moves to a new, state-of-the-art...
Cadwalader's D.C. office moves to a new, state-of-the-art, “green” office at 700 Sixth Street, located between the White House and the U.S. Capitol in the burgeoning Penn Quarter neighborhood.
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2010 Cadwalader's London office relocates to Dashwood at ...
Cadwalader's London office relocates to Dashwood at 69 Old Broad Street, affording the firm the flexibility to grow and providing a location more centrally located in the heart of the business district. The firm opens an office in Hong Kong, Asia's center of international banking, investment and trade, establishing a formidable Asia Pacific presence from which to provide legal services to U.S. and U.K. financial institutions and multinational companies doing business and investing in Asia as well as Asian-based entities in their international business activities and investments.
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2012 Cadwalader serves as counsel to the International Swaps...
Cadwalader serves as counsel to the International Swaps and Derivatives Association (ISDA) in the development of documentation and an online platform to address sweeping new regulation of the global derivatives markets after the financial crisis.
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2014 The firm represents Assured Guaranty...
The firm represents Assured Guaranty, the largest creditor in Puerto Rico's restructuring of approximately $73 billion of outstanding debt, the largest-ever U.S. municipal debt restructuring with significant legal, economic, political and social implications.
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2015 Patrick T. Quinn is appointed Managing Partner...
Patrick T. Quinn is appointed Managing Partner, responsible for driving the strategic growth and direction of the Firm, as well as managing operations globally. A 26-year veteran of Cadwalader, Quinn has been integrally involved in the Firm’s evolution and is committed to maintaining the highest levels of client service and attorney excellence, fostering the development of the Firm’s future leaders and serving the public interest through a robust pro bono program.
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2018 Cadwalader is selected by the Federal Reserve's Alternative...
Cadwalader is selected by the Federal Reserve's Alternative Reference Rates Committee (ARRC) to develop best practices for cash products in the post-LIBOR world – a $200 trillion market.
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2019 For the 19th consecutive year, Cadwalader is ranked the number 1...
For the 19th consecutive year, Cadwalader is ranked the number one law firm advising issuers on commercial mortgage-backed securities (CMBS) offerings by Commercial Mortgage Alert.
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2020 For the 19th consecutive year, Cadwalader is ranked the number 1...
Cadwalader advises Pershing Square Tontine Holdings, Ltd. (“PSTH”), a Delaware incorporated special purpose acquisition company (SPAC), on its initial public offering – the largest-ever IPO by a SPAC at the time.
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2021 The firm advised on a number of historic transactions in 2021...
The firm advised on a number of historic transactions in 2021, including the first CRE CLO in Europe since the credit crisis, a $4.1 billion ESG-linked credit facility tied to board diversity, and the $3 billion CMBS refinancing of the One Vanderbilt skyscraper in Manhattan, the largest-ever fixed rate CMBS financing secured by a single asset.
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