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.
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    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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