KEY POINTS
- Brad Karp’s resignation follows public attention to his limited social interactions with Jeffrey Epstein.
- Paul Weiss named Scott Barshay as chairman, signaling leadership continuity.
- The move underscores reputational pressures facing elite law firms.
Brad Karp resigned Wednesday as chairman of global law firm Paul Weiss Rifkind Wharton and Garrison, stepping aside after renewed scrutiny of his past social contacts with the late financier Jeffrey Epstein, the firm said.
Scott Barshay was appointed chairman effective immediately in New York, ending Karp’s eighteen year tenure at the helm.
The leadership change at Paul Weiss, one of Wall Street’s most influential law firms, comes as professional services firms confront intensified scrutiny over past associations revealed through newly released federal records.
The Brad Karp resignation marks a rare public step down by a senior Big Law leader amid reputational concerns.
Paul Weiss said Karp attended two group dinners with Epstein in New York City and exchanged a small number of emails, interactions the firm said he regrets.
Epstein died by suicide in two thousand nineteen while awaiting trial on federal sex trafficking charges.
Karp’s name appeared in millions of Justice Department documents unsealed last week as part of Epstein related litigation.
Karp joined Paul Weiss more than four decades ago and became chairman in two thousand eight, overseeing a period of significant growth and high profile representations.
The firm employs more than one thousand attorneys across the United States, Europe and Asia.
“This reflects how reputational risk now extends far beyond legal exposure,” said Stephen Gillers, professor of legal ethics at New York University School of Law. “Leadership changes can be a form of risk management.”
Deborah Rhode, professor emerita at Stanford Law School, said large firms increasingly act quickly when senior figures become distractions.
“Even peripheral associations can affect client trust and internal morale,” she said. Paul Weiss said Barshay, previously global co-chair of mergers and acquisitions.
Brings continuity and institutional knowledge. A firm spokesperson said the transition was orderly and unanimous.
Scott Barshay said in the release that the firm remains “focused on serving clients and supporting our people.”
Karp said leading the firm had been “the honor of my professional life” but that recent reporting created a distraction.
The Brad Karp resignation may prompt other firms to review governance and disclosure practices as Epstein related records continue to emerge.
Paul Weiss’ swift leadership transition highlights how legacy relationships can shape present day accountability in the legal industry, with long term implications for governance at major global firms.
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