Mr. Paul Weiss Goes to Washington

In college, backgrounders state that Brad Karp, the long-time chair of law firm Paul Weiss, toyed with the idea of a career path in politics. The specific focus was about running for Congress. Instead, though, he accepted admission to Harvard Law School (turned down the one to Yale) and that was that.

Now, during the current crisis for law firms, under comprehensive attack by the Trump administration, Karp seems to be showcasing his inner politico. The guy is a smart strategist.

Semafor reports that Karp has gone to Washington. There his objective seems to be to create lines of communication with a power force which, as Steve Bannon puts it, wants his firm and other elite firms out of business. Already Paul Weiss has lost one client as a result of an Executive Order.

One way he is trying to connect, notes Semafor: 

"Karp ... is discussing a particular path back into the administration’s good graces: helping the White House respond to alleged instances of antisemitism that came out of the wave of campus protests last year." 

Since becoming chair in 2008, Karp has developed a track record for social justice initiatives. Among them has been addressing antisemitism. Karp is Jewish. So, he has deep experience with the issue, plus a personal involvement. 

Will this sort of outreach be effective? Well, just the optics of reaching out in-person to the new administration can reassure major Wall Street clients that Paul Weiss is open to making resets to accommodate the new order of things. Actually during these volatile times more and more businesses have to become protean, Zelig-like, taking on fresh identities to survive. 

Lots is at stake for the business of Paul Weiss. It now employs about 1200 lawyers. It has a lease on a new pricey location in Manhattan. The compensation of its star partners is at nosebleed levels so that's a big payroll to meet.

Karp might be able to come out of this crisis with unique positioning within the Trump power force field. His track record for successful risk-taking is outstanding. 

During the global economic downturn, when he first became chair, he didn't conduct layoffs of young lawyers, betting that the business of Paul Weiss would hold up. Along with that he disrupted tradition that the firm's core competence was litigation. He extended that to transactional practices. 

Of course, he steered the firm through COVID.

He navigated the negative publicity of expose "The Caesar Palace Coup" about large law firms such as Paul Weiss and Kirkland & Ellis as well as the sharp-elbowed Wall Street players. The book gleefully triggered a media pile-on. Despite that, Karp had himself voted in for another term as chair by the partners.

And, amid the accelerated global competition in the practice of law he landed on top, producing record revenue and Profits Per Equity Partner.

The possibility exists that Karp can build a relationship with the power structure inside the beltway. He may accomplish more than that, developing special positioning with conservatives globally. One of his pet projects is enhancing the presence of the Paul Weiss London office. 

Politics, it is said, is the art of getting things done. What Karp has to get done is save the business of Paul Weiss.

UPDATE:

The Trump administration rescinded its Executive Order against Paul Weiss. Bloomberg News reports:

"Trump announced his decision [to rescind the EO] on Truth Social Thursday, stating Paul Weiss agreed to take on pro bono clients that 'represent the full spectrum of political viewpoints.' Trump also said Paul Weiss affirmed a commitment to merit-based hiring and promotion and won’t pursue 'DEI policies'.”

Do you sense you need a new start? As your intuitive career coach/tarot reader I guide you in transitions. Clients range from lawyers to entrepreneurs to the trades. Free confidential consultation. If we work together, fees are what you can afford. To connect: Jane Genova (text/phone 203-468-8579, janegenova374@gmail.com). In-person and remote.