Still At Gossip Stage: Paul Weiss, Like Kirkland & Ellis, Could Be Creating NEP Category

My my. Paul Weiss could be getting to look more and more like its competitor Kirkland & Ellis. As the latter, it has been investing major bucks in poaching star talent. 

And, now this rumor, thanks to Abovethelaw.com The unconfirmed buzz is that as early as 2024, Paul Weiss could establish, just like Kirkland & Ellis, a category known as NonEquityPartner. 

That has grabbed plenty of attention for Kirkland & Ellis. Thanks to that creation the law firm made over 200 partners recently. It also serves as a retention device since more associates will stick around to become a partner. Nice title, after all. And your neighbors probably don't know the difference between an equity partner and a salaried one. 

The professional anonymous networks are likely to jump on this rumor. For about six months posters have been observing that Paul Weiss seems to be following the Kirkland & Ellis playbook. 

My observation? In the leadership the chair Brad Karp seems to have mutated from Karp 1.0 to 2.0. That seemed to have kicked in soon after he began his new contract in May 2023. 

The rebranding, which seemed so obvious to me, demands new kinds of communications. Bolder, more filled with metaphors like the ones Apollo's CEO Marc Rowan sprinkles throughout  his thought leadership. For example, he noted that investing had transitioned from the raw basics to a kind of Baskins & Robbins. Actually he dated himself on that one. I would have used Haagan Daz or Ben & Jerry's. 

So, I pitched to Karp 2.0 to be his new communications coach/scribe. So far, I've been ghosted.  In coaching, I tell clients to never be discouraged when ghosting. That helps them become more effective in marketing and sales.

UPDATE:

Recently posted on Fishbowl Big Law:

"What can you negotiate in NEP contract?"

The replies say little or nothing. Probably Of Counsel has more negotiating power.

Data or the gut for your careers and communications? Both of course. Complimentary consultation with intuitive coach, content-creator, and Tarot reader Jane Genova (text 203-468-8579, janegenova374@gmail.com).


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