Milbank, Tweed, Hadley & McCloy Tuesday raided Latham & Watkins’ New York office for a five-partner banking and leveraged finance team.

The partners included the global co-chair of Latham’s banking practice group, Marc P. Hanrahan, who has had a strong relationship with Goldman Sachs & Co., among other banks, a source familiar with the situation said. Their departure from Latham represents a rare group parting from the 2,000-lawyer firm and a hit to its banking and finance practice.

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