Brad Karp steps down as Paul Weiss chairman after emails with Jeffrey Epstein surface, replaced by corporate head Scott Barshay amid firm scrutiny.
NEW YORK: Brad Karp has resigned as chairman of elite Wall Street law firm Paul Weiss Rifkind Wharton & Garrison. His departure follows intense scrutiny over emails revealing extensive personal and business communications with the late financier and convicted sex offender Jeffrey Epstein.
The firm announced late on Wednesday that corporate department head Scott Barshay would succeed Karp. Barshay has advised on major deals including Anheuser-Busch InBev’s USD 107 billion takeover of SABMiller.
In a statement released by the firm, Karp said “recent reporting has created a distraction and has placed a focus on me that is not in the best interests of the firm.” He will remain at Paul Weiss as a partner focused on client work.
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Emails released by the US Department of Justice last Friday detailed Karp’s interactions with Epstein. These communications continued until months before Epstein’s arrest on sex trafficking charges in July 2019.
The firm stated on Tuesday that Karp “regrets” his interactions with Epstein. A Paul Weiss spokesperson said Karp met Epstein through his work representing Apollo Global Management co-founder Leon Black.
“During the course of that representation, which spanned several years, Mr. Karp never witnessed or participated in any misconduct,” the spokesperson said. Karp has not been accused of any wrongdoing related to Epstein.
The released emails show Karp reviewed a draft legal motion for Epstein in March 2019. He praised the document, which argued victims had “lied in wait” for strategic advantage.
Karp’s nearly 18-year leadership tenure unravelled rapidly this week. As recently as Monday, he reportedly had internal support within the firm.
His resignation caps a career where he grew Paul Weiss into a legal powerhouse. Annual revenue exceeded USD 2.6 billion in 2024 under his chairmanship.
Karp and the firm also faced criticism for a 2023 deal with former President Donald Trump. Paul Weiss pledged tens of millions in free legal work in exchange for Trump rescinding an executive order targeting the firm.
The order had restricted the firm’s government work, citing its connections to Trump’s political opponents. Karp defended the agreement as necessary for the firm’s survival.
Eight other law firms later made similar pro bono pledges to the administration. Their combined commitments were worth nearly USD 1 billion. – Reuters