While being a member of State Bar of California; American Bar Association (Member, Tax Section), Scott R. Barshay is one of the more than one million lawyers . Is Your Firm Keeping Pace With The Advancements In eDiscovery? Track Your KPIs Efficiently with the Right Technology. Big Law Business: Partners switch firms all the time, but certainly not at this level. For cost savings, you can change your plan at any time online in the Settings & Account section. In 2015, Barshay worked on transactions with an aggregate value of almost $300 billion enough to give him a respectable place in the league tables if he were a law firm unto himself. Scott Barshay, CPBA Scott Barshay, CPBA Sr. Director, Global Program Management at Pontoon Solutions Published Oct 30, 2020 + Follow Like most of you, I grew up watching The Wizard of Oz. I think big rainmakers at law firms should be treated the way rainmakers are treated in any other business, whether its banking or private equity or whatever it might be. We use cookies so we can provide you with the best online experience. On the eve of his elevation to the top spot, Woolery leftto co-found an activist hedge fund. . or Professionals Scott A. Barshay Partner Tel: +1-212-373-3040 Fax: +1-212-492-0040 sbarshay@paulweiss.com New York 1285 Avenue of the Americas New York, NY 10019-6064 + vCard Practices Corporate Corporate Governance Mergers & Acquisitions Education Bar Admissions Scott A. Barshay is Chair of the Paul, Weiss Corporate Department. 3225 Adeline Street Rosen: In my opinion, I think this is the biggest deal ever. Scott Barshay (courtesy of Paul, Weiss; Matt Greenslade). Inquiring minds want to know: how much will Scott Barshay earn at Paul, Weiss? Rosen said that the deal came together fairly quickly as partner moves go, in about two months. Thomson Reuters Practical Law The Journal: Transactions & Business, The State Of Todays Corporate Law Departments, MyCase Continues To Simplify Law Firm Accounting, Right Where You Manage Your Practice, Meet LINK: The Easy Way To Handle All Your Document Workflows On Your Mobile Device In A Single App, Four Tips For Solo Attorneys To Build Their Marketing And Media Relations Skills, First Impressions Are Worth Millions For Summers. Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. In fairness to Paul, Weiss and to Scott Barshay, however, (1) PW is a fairly lockstep firm, with 90 percent of partners getting paid based on seniority, and (2) Barshay made his move mainly because of excitement over the PW platform and the chance to grow its practice, as opposed to comp. Scott Barshay 's birthday is 12/12/1965 and is 56 years old. Will A Looming Recession Test the GCs Role as Conscience of the Company? and career development training for all legal industry professionals. By continuing to browse this site you are agreeing to our use of cookies. Is Your Firm Keeping Pace With The Advancements In eDiscovery? PWs corporate practice, led by Bob Schumer (brother of Senator Chuck Schumer, in case youre wondering), advised on a little more than $300 billion in deals in 2015, placing it around #19 or #20 in the M&A league tables. Family Office & High-Net-Worth Individuals, Biden Administration Resource Center for Businesses, Duck Creek Technologies to Be Acquired by Vista Equity Partners for $2.6 Billion, GE Spins Off Health Care Business, Creating GE HealthCare, GE HealthCare Conducts Offering of $8.25 Billion Senior Notes Ahead of Spin-Off from GE, Leading Expert in Distressed Transactions Joins Paul, Weiss as Head of Special Situations, Paul, Weiss Shortlisted in Six Categories for, Nine Paul, Weiss Partners Recognized as Top Lawyers by MergerLinks, Scott Barshay Handled Most M&A Deals by Value in 2021, MergerLinks Reports, Scott Barshay Recognized as Dealmaker of the Year by, The Deal Recognizes Paul, Weiss With Three Awards, Paul, Weiss Partners and Matters Recognized By FT Innovative Lawyers - North America. Without exception, such events generate predictions that the firms lockstep compensation structure is doomed. Biglaw, Brad Karp, Brad S. Karp, Corporate, Corporate law, Cravath, Cravath Swaine & Moore, Faiza J. Saeed, Faiza Saeed, Lateral Moves, lateral partners, M&A, Matt Levine, Mergers and Acquisitions, Michael de la Merced, Money, Musical Chairs, Partner Issues, Partner Profits, Paul Weiss, Paul Weiss Rifkind Wharton & Garrison, Profits Per Partner, Robert B. Schumer, Robert I. Townsend III, Robert Kindler, Robert Schumer, Robert Townsend III, Scott A. Barshay, Scott Barshay, Sharon Mahn, Transactional practice. "Scott is the go-to lawyer for M&A. He's a real business lawyer with great practical judgement, and clients adore him." Two years after that, Woolery negotiated a huge three-year pay package to join Cadwalader, Wickerhsam & Taft as the chairmans heir apparent. We will never sell or share your information without your consent. Standard Digital includes access to a wealth of global news, analysis and expert opinion. As Mark Rosen told Bloomberg, Barshay felt it was a great opportunity. Scott is recently retired and is a volunteer in the Berkeley schools. Privacy Center | I spoke to Brad and said Scott is willing to sit down and meet with you, recalled Rosen, who said the Feb. 26 call led to a meeting in Manhattan. His body was found three days later in Arlington. . This week, I went back and read the Journalarticleagain. After a rocky start to 2020 that eventually gave way to a record-breaking 2021, M&A activity slowed to more historical norms in 2022. Paul, Weiss, Rifkind, Wharton & Garrison LLP, in the activist investment by Third Point, Corporate partner Scott Barshay has been named, Corporate partner Scott Barshay and Paul, Weiss were recognized by the. Rosen called the Barshay move the largest placement of his career, in terms of industry significance: hardly any partners leave Cravath, which has remained financially sound with low turnover because of its lockstep structure, and Barshay was one of its top performers. This generally makes sense given what weve heard. [1] Estimating Barshays 2015 Cravath compensation at $4 million to $4.5 million seems reasonable. Rosen: I think the best advice I would give other recruiters is to always be honest. Rosen: I think it was a combination of things including compensation. UPDATE (4/5/2016, 9:35 a.m.): Over at Am Law Daily, Julie Triedman has an interesting piece, Rainmakers Defection Could Test Cravath Lockstep Model, with more info about partner pay at CSM and PW: Paul Weiss chair Brad Karp declined to say how much the firm agreed to pay Barshay. "I spoke to Brad . Those words might scaresome big law firm leaders. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. The largest story in the law firm world this week is top M&A lawyer Scott Barshay's surprise defection from Cravath to Paul, Weiss. They assist lawyers, the primary assets of a law firm, who can walk out the door at a moments notice, destabilizing a firms business, or vaulting the hiring firm to higher profitability and prestige. Big Law Business: Questions have surfaced in the legal community about what this move means for Cravaths lockstep system. It was the right time and coming up as the global head of M&A at Paul Weiss was very exciting. As Cravaths current presiding partner C. Allen Parker noted,Partners are in lockstep systems because they believe its the best system for their clients and provides the most satisfying partnership environment.. The firm does not give guarantees or signing bonuses. We hope he's found soon and brought home safely. How Are Millennials Changing Law Firm Culture? His practice focuses on advising clients and their boards on mergers and acquisitions, activist defense and other significant corporate matters. We represented nonprofit housing clients all over California trying to develop property mostly through the use of low-income housing tax credits or other federal and state programs. But there are some other factors possibly at play here, according to Mahn. This is a digitized version of an article from The Timess print archive, before the start of online publication in 1996. Global total deal value fell by 5%, but increased a modest . Registration or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Heres How To Get Yours Right. 90 percent of partners getting paid based on seniority, Meet the Headhunter Who Placed Scott Barshay at Paul Weiss, A Deeper Dive Into Scott Barshays Move From Cravath To Paul Weiss, Lawyer Accused Of Stabbing Another Lawyer After Nursing A Grudge For Years, Gross If True: Schlapp Accuser Sues Conservative Power Couple For Defamation And Sexual Battery, First-Year Law Student Missing In New York City. Rosen: I think in todays world, I dont agree with (lockstep). Thats a caveat inserted in many law firm fee agreements to ensure that the recruiter fee is not extraordinarily high when it comes to large groups, law firm mergers, or in this case, a candidate that is bringing an astronomical sum of business to the firm with overall compensation to match. Lets assume, on the conservative side, that Barshay is getting paid a base of $8 million and that Rosen is getting just 20 percent. Rosen, 62, operates in a niche, but influential world of headhunting for the nations top law firms. Scott is by far the most high-profile lateral candidate that has moved from one firm to another. Gubb & Barshay LLP, established in 1993 by Natalie Gubb (1948-2016) and Scott Barshay, is widely-known as one of the top law firms specializing in the field of affordable housing. but we now have it on good authority that Barshays deal, while very generous, isnt quite so lavish. Sung Pak has joined as a partner in the Finance Group and head of the Special Situations Practice. I dont know the answer to that, he said. Paul, Weiss advised GE in the separation of its health care business and launch of GE HealthCare Technologies Inc., a global leader in precision health care. Hes now a go-to corporate dealmaker. The 50-year-old Barshay joined. Law Business Research Ltd 1998-2021. Things have a way of getting out, no matter how hard people try to keep things confidential. Heres How To Get Yours Right. As described in this prior post, 5 Reasons To Become A Legal Recruiter, Recruiting is not the easy money that it might sound like. Headhunters offer predictable analyses. For more than three decades as a recruiter, his success has often hinged on knowing which calls dont matter, and which callsreallymatter like the one he placed to Brad Karp, the chair of Paul, Weiss, Rifkind Wharton & Garrison in mid-February that led to the hiring of Cravath, Swaine & Moore M&A partner Scott Barshay. You can connect with David on Twitter (@DavidLat), LinkedIn, and Facebook, and you can reach him by email at dlat@abovethelaw.com. With the first quarter of 2016 in the rearview mirror, will other big names of Biglaw jump into the game of musical chairs? My Interview on The Lawyers Who Enabled Trumps Assault on Democracy, The Lawyers Who Enabled Trumps Assault onDemocracy, My Interview on a Wild Week: The January 6 Bombshell and the End of Roe v.Wade, Alitos Bad History Meets the Vendetta of ClarenceThomas, Trump and His Allies Are A Clear and Present Danger to American Democracy, Russias Victory Day and the Trump-Putin Alliance AgainstUkraine, November 2022: The Anti-DemocracyCoalition, For Democrats, the silver lining in the Biden documents controversy is that Biden is less likely to seek re-electio, McCarthy as strategist: A lot of partners have made moves, but I dont think anybody at Scotts level. Cravath pay topping out at $4 million might seem a tad low, but remember that CSM sets the spread between the highest- and lowest-paid partners at 3 to 1. Biglaw, Headhunters / Recruiters, Lateral Moves, Partner Issues Anatomy Of A Deal: The Backstory Behind Scott Barshay's Move From Cravath To Paul Weiss.

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