Paul, Weiss: Another Setback for Scott Barshay Era

 About eight months into the Scott Barshay era at Paul, Weiss what continues to play out is flight of star litigation partners. 

Since retaining those brandname partners is a key metric of how a law firm is doing, this latest development adds to questions if Barshay, prominent in M&A and as a rainmaker, can lead. Leadership is very different from managing.

Barshay's bashing of the litigation folks at the firm, reported by The New York Times in early August, seems to keep biting him in the butt. According to the paper of record:

"At a dinner ... Mr. Barshay belittled the litigators, saying that they were soft and didn’t know how to bring in business ..."

Paul, Weiss indicated the statements were mischaracterized.

Well, apparently the latest exit happened fast. Not even Kimberly Branscome's LinkedIn profile has recorded the poaching by Gibson Dunn. Bloomberg Law, though, caught it:

"Los Angeles-based Branscome is joining Gibson Dunn as co-chair of its group, the firm announced on Friday. She is joined by Paul Weiss Rifkind Wharton & Garrison partners Yahonnes Cleary and Jonathan Tam, who are joining the firm as partners in its mass torts and product liability practice group, it said."

According to Branscome's LinkedIn profile, she:

"Represents leading multinational corporations across a broad range of sectors – including the pharmaceutical, consumer products, energy and automotive industries – in complex litigation and trials involving product liability, professional liability, environmental and toxic torts, and securities matters."

Many recall the recent high-profile exit, after Barshay took over the chairmanship, of Supreme Court litigation expert Kannon Shnmugam. He lateraled to Davis Polk.

One possible scenario for Barshay is that in time he will step down from the leadership role and continue as a key partner in dealmaking. He's a master at new business development. 

Meanwhile other metrics such as the financial performance of the firm register positive for Barshay. So there are no immediate threats to his hold on power. 

An irony in Barshay's coup which pushed long-time chair Brad Karp out, though, is that Karp is thriving in his litigation practice. So much so that the reset from leader back to brilliant litigator has solidified. Among his clients are Apollo, Citi and the NFL. With a couple of prominent wins, which Karp certainly knows how to promote in the media. the recent past could fade from the collective memory bank.

The narrative that's replacing much of what unraveled Paul, Weiss/Karp is this: Large law firms essentially are flying blind in their hiring. Yes, everything from poaching stars to entry-level recruiting. The implications are monster. The issues include succession, profits per equity partner, client churn and reputation. Legal media such as Bloomberg Law and Reuters are chasing this emerging story. Here's my analysis of that challenge for Big Law. 

In coaching, I guide Emotional Intelligence issues in terms of who has the power. At Paul, Weiss that hold seems tentative.

Careers. Forget all that. It’s about earning a good living, no matter what.

Complimentary consultation with Jane Genova, StreetSmart Coaching (janegenova374@gmail.com)


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