Karp Diem: Paul Weiss Rifkind Wharton & Garrison

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  • One, twice, three quotes and you're out

    Surely the irony of citigroup's current downfall and Weiss' historical tight realtionship is nothing to trumpet. Perhaps it was great when times were good , but methinks the bad times are upon us, and now we all want to know who failed to spot the brewing problem with complex securities - all written in legal hand.....

    Bury these quotes before they bury you?

    'Paul Weiss’s biggest client, ­Citigroup, is alone keeping legions of the firm’s lawyers busy on auction rate securities scandals, subprime-related litigations and the Lehman Brothers bankruptcy.
    Citigroup is one of Paul Weiss’s key clients, yet with Karp as the bank’s relationship partner, what happens when he becomes chairman?

    “At this point Citi is a firmwide ­relationship,” says Karp. “One of the things I’m most proud of is how institutionalised this client has become over the past decade. '

    Yer rite !

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