The Era of Free-Agent Star Partners: Not Unthinkable that Simon Rifkind Would Bolt Paul, Weiss in 2026

 Loyalty, collegiality and the respect bestowed had been the game. It ensured influential partners such as Judge Simon Rifkind would be "lifers" at elite firms such as Paul, Weiss. 

But, given the increasing number of lateral moves of stars among firms, it wouldn't be unthinkable that Judge Rifkind might bolt this year. Driving the flight of the twinklers is not only lots more money. Being offered are also more power, more autonomy and more resources. As yet, no law firm has figured out how to create a moat to insulate it from being raided. 

Cravath found out that sort of thing. That old-line institution in the legal sector, which used to be the market-setter for compensation, has recently been hit with high-profile defections. Those exiting include John Buretta and Andrew Davis to Paul Hastings and Ben Joseloff to Davis Polk. Jelena McWilliam went to fintech player Plaid. The fintech niche is where the action is in financial services. 

As soon as Paul, Weiss ditched its modified lockstep compensation the signal should have been out to other law firms that a barbarian was at their gates. Swaggering giant Kirkland & Ellis lost control over the drawbridge in New York, California and London. In 2023, that couldn't keep in 12 in M&A, debt financing, capital markets and tax. They joined Paul, Weiss. Since then there has been additional raids.

Of course, the reality of free agent stars as the new usual disrupts just about every aspect of the old-line law-firm business model. 

The firm no longer owns branding. The stars do. And they leave and take their wattage with them, as well as clients. Maybe promising associates too. 

The chairs and the managing partners, unless they control a bulging book of business, could downsize in roles to mere administrators. 

The best and brightest young lawyers will seek out to build careers where the stars are, not with a law firm per se. The same could apply to the technologists and the data scientists. 

In my intuitive coaching I guide knowledge workers how to identify where the power is in 2026. That's where they need to be.

Success is a mental game. Failure comes from being done in by the “committee” in your head.

Together, we reprogram your thinking. Then we change your story. And, unleash success.

Intuitive Coaching. Special expertise with transitions, becoming a solopreneur and aging. Psychic/tarot readings, upon request. Complimentary consultation with Jane Genova (Text 203-468-8579, janegenova374@gmail.com). Yes, test out the chemistry. Zero risk.

Don’t give up before the miracle.

 


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