Former Attorney General hopeful joins Debevoise

Eric Dinallo, recently a candidate for the New York State Attorney General post, has abandoned plans to seek public office in favor of returning to private practice. Dinallo, who finished rock bottom in a field of five vying for this year's Democratic primary nomination, will join the partnership at Debevoise & Plimpton imminently, according to The Wall Street Journal. Prior to his short-lived political campaign, Dinallo was the state's Insurance Superintendent for two years.

The that Dinallo will work on both litigation and regulatory matters in the financial services industry. Interestingly, Dinallo was intimately involved with the federal government's bailout of AIG—one of Debevoise's biggest clients—during his tenure as Insurance Superintendent, a revelation that promises to bring up some sticky conflict of interest concerns when he assumes his new position.

The Debevoise appointment sees Dinallo return to BigLaw after a 15-year absence that saw him hold high-profile offices at Willis Group and Morgan Stanley, followed by a lengthy spell working under former Attorney General Eliot Spitzer. His last sighting in BigLaw was as a litigation associate at Paul, Weiss, Rifkind, Wharton & Garrison in 1995.

- Sam Reynolds

Update: Bloomberg scored a phone interview with Dinallo, in which he explained he had this to say about his decision to join Debevoise:

"It was the only firm I spoke with [...] It has a unique compensation structure. Partners within a class are paid the same, so there is no eat what you kill, just a bunch of super-smart lawyers pulling on behalf of the client."