Paul, Weiss Chair Resigns Amid Epstein Scandal; M&A Star Takes Helm

NEW YORK, NY – February 04, 2026 – Paul, Weiss, Rifkind, Wharton & Garrison LLP, one of the world's most powerful law firms, announced a stunning leadership change today as Chairman Brad Karp resigned effective immediately, citing the “distraction” from recent reports detailing his extensive interactions with the convicted sex offender Jeffrey Epstein. Scott Barshay, the firm’s globally recognized head of M&A, has been appointed as his successor.

The abrupt transition marks a tumultuous end to Karp’s 18-year tenure, a period of unprecedented financial growth that also saw the firm navigate significant controversy. In a statement, Karp, who will remain at the firm focusing on client work, directly addressed the reason for his departure: "Recent reporting has created a distraction and has placed a focus on me that is not in the best interests of the firm."

His successor, Mr. Barshay, assumes leadership at a critical juncture. “I step into this role with great confidence in Paul, Weiss' continued success,” Barshay said in the firm’s announcement. “Our strength lies in the talent and dedication of our people and trusted client relationships.”

The 'Distraction' That Toppled a Legal Titan

The “recent reporting” Karp referred to involves the release of U.S. Department of Justice documents that have illuminated a far more familiar relationship with Jeffrey Epstein than previously acknowledged. The documents, part of a larger tranche of files related to the disgraced financier, revealed a series of email exchanges that painted what many observers called a “cozy picture.”

Paul, Weiss has long maintained that Karp’s initial contact with Epstein came through his representation of Apollo Global Management co-founder Leon Black in a fee dispute, a matter in which the firm was “adverse to Epstein.” The firm also previously stated that Karp “regrets” his interactions. However, the newly public emails suggest a relationship that went beyond a purely adversarial or professional context.

Reports on the documents detail social interactions, including dinners in New York City. In one email, Karp reportedly expressed effusive gratitude for an evening at Epstein’s home, calling it “truly ‘once in a lifetime’ in every way” and expressing hope for a future invitation. The communications also allegedly included personal requests, such as Karp asking Epstein for assistance in securing a job for his son with a Woody Allen film production. Another email from Epstein to a political strategist reportedly mentioned a request to help get Karp admitted to the exclusive Augusta National Golf Club.

Most critically for a lawyer of Karp’s stature, the documents suggest he may have provided legal and business advice to Epstein, and even edited a defense of Epstein’s controversial 2008 plea agreement related to sex trafficking charges. The revelations created an immediate firestorm in the legal community, raising ethical questions and prompting Karp to withdraw from public appearances just before his resignation was announced.

A Transformative and Turbulent Legacy

Brad Karp, who spent his entire 40-year career at Paul, Weiss, leaves behind a complex legacy. Appointed chairman in 2008, he steered the firm through the global financial crisis and transformed it into a financial juggernaut, with annual revenues soaring past $2.6 billion by 2024. He strategically pivoted the historically litigation-focused firm into a dominant force in corporate law, making it a go-to advisor for Wall Street’s biggest private equity firms and corporations.

Known as one of the nation's foremost “bet the company” litigators, Karp was often described as a lawyer every CEO should have on speed dial. Under his leadership, the firm collected numerous accolades and he personally championed social justice causes, authoring op-eds on gun control and voting rights while boosting the firm’s pro bono commitments.

However, his final years were marked by controversy that predated the Epstein scandal. In March 2025, the firm faced a torrent of criticism for a deal it struck with the Trump administration. Paul, Weiss pledged tens of millions of dollars in pro bono services to causes favored by the White House in exchange for the rescission of an executive order that targeted the firm over its diversity initiatives and alleged ties to political opponents. Karp defended the move in a firm-wide memo, calling the order an “existential crisis.” The decision was decried by many legal ethicists and reportedly led to the departure of several litigation partners, straining internal dynamics.

Enter the Dealmaker: A New Era Under Scott Barshay

In appointing Scott Barshay, Paul, Weiss is turning to a leader whose reputation is forged in the high-stakes world of corporate dealmaking. Widely regarded as one of the most prolific and successful M&A lawyers on Wall Street, Barshay’s appointment signals a strategic move to ensure stability and double down on the firm’s most lucrative practice.

Barshay joined Paul, Weiss in 2016 from rival Cravath, Swaine & Moore, a move that sent shockwaves through the legal industry. As Global Head of Mergers & Acquisitions, he has been instrumental in cementing the firm’s dominance in the field. He has been named “Dealmaker of the Year” by The American Lawyer on multiple occasions, including for his work advising IBM on its $34 billion acquisition of Red Hat and, more recently, for his role in the $21 billion merger of WWE and UFC in 2024. His deal sheet for 2023 alone reportedly totaled over $120 billion in value.

His leadership is expected to provide reassurance to the firm's vast roster of corporate and private equity clients, who prize stability and continuity. Barshay’s public statements have focused squarely on this message of steadiness and excellence. “Clients come to Paul, Weiss because we deliver excellence, and our firm is unified in our commitment to continuing to provide the highest standards of client service,” he stated.

Barshay's ascent solidifies the corporate department's powerful position within the firm. He was a key figure in the firm's recent geographic expansion, including its new office in Houston, designed to capture more energy-sector deal flow. His challenge now extends beyond dealmaking to navigating the firm through a significant reputational crisis. The focus will be on managing the fallout from Karp’s departure while ensuring that the operational and financial engine of the firm continues to run at full speed. The appointment is a clear bet that in the world of elite law, a preeminent dealmaker can steady a ship rocked by scandal.