Brad Karp, who has led Wall Street powerhouse Paul Weiss for nearly two decades, announced his resignation as chairman on Wednesday following the release of emails showing his personal and business contacts with Jeffrey Epstein.
The firm named corporate department chair Scott Barshay as his replacement. In a statement, Karp said recent news coverage had become a distraction that was not in the firm's best interest.
The emails, made public last Friday by the U.S. Department of Justice, revealed Karp attended dinners with Epstein and asked for his help getting his son a job on a Woody Allen film production.
"I have spent my entire career covering the news. I will not stop now.
— Don Lemon (in unrelated but parallel press freedom context)
Karp, a major Democratic fundraiser who supported Kamala Harris’s 2024 campaign, had built Paul Weiss into a firm with more than $2.6 billion in annual revenue by 2024. He was known for defending Wall Street clients while also championing social justice issues.
His relationship with Epstein began through his representation of Leon Black, the former Apollo Global Management chair. The revelations have drawn significant scrutiny to Karp’s judgment and the firm’s leadership.
The firm previously faced criticism for agreeing in March to provide tens of millions in free legal work to White House-supported causes in exchange for Trump rescinding an executive order targeting Paul Weiss over its diversity efforts and political connections.
Background on the Epstein Emails
The released emails showed Karp’s communications with Epstein went beyond professional matters. They included personal dinners and direct requests for career help for his son.
Karp has defended his actions, but the controversy has raised questions about the judgment of one of Wall Street’s most influential lawyers.
Firm Transition and Reactions
Scott Barshay, the incoming chairman, previously led the firm’s corporate practice. Paul Weiss is known for representing major financial institutions like Apollo and Citigroup in high-stakes deals and litigation.
Main Points
Karp chaired Paul Weiss since 2008 and grew its revenue significantly.
Emails revealed dinners with Epstein and job assistance requests.
Firm pledged pro bono work to resolve Trump executive order.
Scott Barshay named as new chairman.
✓ Resignation announced Wednesday
✓ Emails released by DOJ last Friday
✓ No immediate comment from Karp
✓ Firm cites distraction as reason
The controversy adds to recent challenges for Paul Weiss, including criticism over its deal with the Trump administration to avoid restrictions on government work.
Why This Matters
Karp’s departure highlights the continuing fallout from Jeffrey Epstein’s network of influential contacts. For one of Wall Street’s most powerful firms, the leadership change comes at a time of heightened scrutiny over ethics, political ties, and client relationships.
The episode underscores how past associations can resurface and impact even the most established legal careers.
Recent reporting had created a distraction that was not in the firm’s best interest.— Brad Karp, in Paul Weiss statement
With Barshay taking over, Paul Weiss will look to move forward amid ongoing questions about leadership decisions and the firm’s role in high-profile political and financial matters.
