Top Wall Street Lawyer Scott Barshay Leaves Cravath Law Firm to Join Paul, Weiss as Head of M&A
Wall Street's top deal lawyer, Scott Barshay, is leaving the law firm Cravath, Swaine & Moore. He is leaving the New York City-based firm to join rival law firm Paul, Weiss, Rifkind, Wharton & Garrison as global head of mergers and acquisitions deals.
Mr. Barshay has spent his entire career in Cravath as he represented high-profile clients in mergers and acquisitions transaction and defense matters. His new role in Paul, Weiss will focus on advising clients on mergers and acquisitions, activist defense, corporate governance and other significant corporate matters.
On a statement released by Business Wire, Mr. Barshay admitted how he has been admiring Paul, Weiss. "While I've very much enjoyed practicing law at Cravath, I am thrilled to join Paul, Weiss, a firm I've long admired. Paul, Weiss's wide range of highest quality practices and extraordinary lawyers will be invaluable in serving the needs of our clients," he stated.
The Wall Street Journal listed Mr. Barshay's remarkable deals in recent years. Last year alone, he worked on nearly $300 billion worth of transactions. He handled Cameron International Corp.'s $13 billion sales to Schlumberger Ltd. The 50-year-old man also advised Honeywell International Inc. and Anheuser-Busch InBev NV among other high-profile clients.
Mr. Barshay has also been advising hotel chain Starwood Hotels & Resorts Worldwide Inc. during a bidding war of acquisition offers between Marriott International Inc. and a group led by China's Anbang Insurance Group Co. He also advised Brazilian investment firm 3G on its deal to merge Kraft and Heinz.
Paul, Weiss is best known for being one of America's top litigation law firms, as it has a smaller M&A practice, as reported by The Financial Times. However, hiring Mr. Barshay could establish the firm's place as a bigger player in the area, considering his expertise and experience on the matter.
The company recognized Mr. Barshay as one of the country's leading M&A lawyers with big and high-profile clients trusting him to handle complex corporate transactions and governance issues. "The breadth and depth of Scott's practice perfectly complement our firm. Our clients worldwide will benefit from Scott's unparalleled expertise in public M&A representation and board-level strategic counsel," said Robert B. Schumer, chair of Paul, Weiss's Corporate Department.
Cravath's top lawyer Scott Barshay is leaving for Paul, Weiss, as its new global head of mergers and acquisitions. His expertise in the area has been well-known as he represents big clients and handle complex transactions. With the new hire, it's likely that Paul, Weiss is seeking to be a bigger player in M&A deals.