The Trump Administration: Will Paul Weiss, Like Sullivan & Cromwell, Wind Up with Seat at the Table?

 With plenty of fanfare (I know since I assisted with the publicity) Paul Weiss launched the first ESG law practice in the US. It was the chair Brad Karp's "baby." Quickly that Paul Weiss ESG brand was extended to the creation of the Law Institute which focused on ESG matters. Back then, as some will remember, ESG caught fire with investors.  This was big and Paul Weiss ran with the momentum. 

Now, as Bloomberg Law documents, all traces of that ESG identity are gone from the Paul Weiss website. Explicitly, it says:

" ...the ESG and Law Institute’s website is no longer functioning. Paul Weiss has also quietly removed its ESG advisory practice from its website, along with a slew of reports and webinars touching on this subject."

Yet, a number of other law firms have retained ESG material on their websites. That includes Skadden, which like Paul Weiss, had been in the front lines of early dealmaking with the administration.

So, what gives? 

Well, what we know is that from the get-go in 2008 of his role as chair Karp has been not only a brilliant strategist. But also a bold one. 

Although it was the time of a severe global financial meltdown Karp took the risk of transforming the firm from a Wall Street litigation business to include transactional services. Also he ignored the herd instinct of massive layoffs of associates. That added aura to the brand. 

 More recently, as he explained on Law, Disrupted, he had extended the footprint globally. That entailed high-profile pricey poaching. In another context he went on record as indicating that generative AI could result in the elimination of lawyer jobs. Bold. Meanwhile the firm will be bulking up in the hiring of technologists and data scientists.

So, why not speculate that a strategy could be moving the dial on a seat at the table in the new administration? In a Substack column "Saving Brad Karp" I indicated that it could make sense for him to accept a job with the administration. It would be a major one. At age 64 - young in 21st-century time - he has plenty of runway. The GOP can control federal government for many more years. 

Trump had three hours to size up Karp when they met in the oval office to hammer out the terms for lifting the Executive Order.  Trump knows what he would be getting. 

Karp has a shrewd inner politico. In college he even toyed with the career direction of running for Congress. Instead of an elected position he could opt for an appointed one. Or at least acquire a lot more influence of what happens in federal government. 

Sullivan & Cromwell is already in the catbird seat. Partner Robert Giuffra is well-situated with the current power structure. 

Power is almost everything. By gaining a seat at the table Paul Weiss, along with Karp, would be back in the loop. Both the firm and Karp have lots of money. The administration leans toward that. 

If the ESG website scrubbing looks like a strategic whatever, maybe it is. Note again: Skadden didn't do a similar cleansing. 

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