Scott Barshay, a corporate dealmaker with annual earnings topping $25 million, has been named chair of Paul Weiss, taking over after the ousting of longtime leader Brad Karp. The transition, revealed during a February leadership meeting, marks a pivotal shift for one of Wall Street's most prominent law firms.

Barshay built his reputation handling major mergers and hostile takeover defenses, becoming a go-to lawyer for companies navigating complex transactions. His appointment comes after years of courting by Karp himself, who once wooed him over dinners at Manhattan's Le Bernardin. The firm now faces an identity crisis as it navigates changing client demands and market pressures.

The leadership change signals Paul Weiss's strategic pivot toward aggressive dealmaking in an evolving legal landscape. Barshay's track record suggests the firm aims to strengthen its position in high-stakes corporate work while addressing internal challenges that led to Karp's removal.