Paul, Weiss: Closely Watched Law Firm

 The last line on the Bloomberg Law coverage of yet another litigation heavy leaving Paul, Weiss says it all:

"The market has been keen for insights into [Scott] Barshay’s impact on the firm’s litigation group."

Exiting for Paul Hastings is Roberto Gonzalez. He had been co-chair of Paul Weiss’ economic sanctions and anti-money laundering practice group. In other coverage, that is by Law.com, it's reported that litigation partner Andrew Enrlich is also leaving at the end of this month. He is co-chair of Paul, Weiss' securities and enforcement practice. 

The watching creates a looping situation. The more the scrutiny the less probability the turbulence will calm down. As long as it exists the more will be the watching. In itself that can trigger more partner exits and difficulty poaching stars in their practices. 

Obviously not cooled down is the upheaval created by multiple hits to the firm's reputation. They include the deal with Trump administration to lift the EO, disclosures from the Epstein files of a social relationship by the former chair Brad Karp with Jeffrey Epstein, loss of litigation stars such as Karen Dunn and Kannon Shanmugam and the termination of litigation associates. 

Such sustained upheaval can undermine the ability of Barshay to lead the firm out of a very bad time. Soon enough the market can turn on Paul, Weiss since it's perceived as vulnerable. Up to now, the attitude has been wait-and-see.

The acid test would be a loss of anchor clients, along with the inability to develop new business. 

As we have witnessed with Goldman Sachs top lawyer Kathy Ruemmler, reputation rehab doesn't always pan out. No matter how much is invested. 

In coaching, I warn clients how iffy their professional standing can be during a period of transition. Either or both their employer's and their own. 

Paul, Weiss is struggling to get on the other side of what has become a threat to the stability of the firm. In Big Law that's a no-no. Clients don't want any of that. They have their own troubles.

Careers? So Over. It’s about Earning a Good Living. No matter what.

Complimentary consultation. No Pressure. Street-smart Guidance. Contact Jane Genova janegenova374@gmail.com.


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