Key figures are Scott A. Barshay, M&A specialist recruited from Cravath in 2016 by prior Chairman Brad Karp, now Chairman himself; Brad Karp, who resigned amid Epstein file revelations of his ties to Jeffrey Epstein and backlash from a $40M pro bono deal for Donald Trump; and departing litigators like former Manhattan U.S. Attorney Damian Williams, with more in talks to leave.[1][2][3][4] The firm, once litigation-dominant (two-thirds revenue), now derives majority revenue from corporate work, reporting 32% revenue growth and $75M profits per equity partner (PEP) last year.[2][4]
This stems from Karp's 2008-2026 tenure expanding corporate practices via hires like Barshay, shifting balance post-2016 and culminating in the Trump deal's fallout, Karp's exit, and Barshay's pre-chair push for changes; timeline: Barshay joins 2016, Trump deal ~2025, Karp resigns early 2026, article April 8, 2026.[1][2][4] Newsworthy now due to fresh leadership crisis, partner exodus signaling identity fracture despite financials, market sell-off on Karp's resignation, and broader Biglaw tensions between profit and culture amid 2026 political climate.[1][2][4]