Earlier this morning, we reported that three (or four) real estate partners were on their way out of Paul Hastings. Now we’re hearing that the partners weren’t “forced out.” Instead, they were actively recruited by Haynes and Boone and gave notice to Paul Hastings management on Monday.
Haynes and Boone sources confirm that Bob Grados, Ken Friedman, and Walter Schleimer will start at Haynes and Boone’s New York office on Monday.
And a fourth Paul Hastings partner will be joining them. It might help to explain why Paul Hastings sources thought the first three partners were pushed out in the first place.
Details after the jump.
Our sources report that Steven Koch will also be leaving PH to join HayBo. That’s significant, because Koch is the head of Paul Hastings’s real estate practice. One imagines that PH didn’t want to lose him, which might help explain this report from a Paul Hastings tipster:
I suppose it’s not fair to say that [Grados, Friedman, and Schleimer] were fired. But people here say that PH didn’t do a whole lot to keep them.
Earlier today, PH confirmed that Grados, Friedman, and Schleimer were heading out, but didn’t mention anything about Koch. But sources at Haynes and Boone are confirming all four as new hires. And Paul Hastings has no further comment about the situation, other than to confirm that the original three partners were not “fired.” Is it possible that Haynes and Boone and Steven Koch know something that Paul Hastings does not?
We reached out to Steven Koch to ask him about what was going on, but he did not respond to our request for comment.
Then again, we emailed Koch at his Paul Hastings address. Perhaps that isn’t the best way to reach him anymore.
We’ll keep you posted if any more partner dominoes fall into place.
Earlier: Paul Hastings: Three Partners Told to Pack Their Bags