Kasowitz Benson Loses Name Partner, Lots Of Money
The Trump administration will now have at least one "superior legal mind."
In the past, people knew Kasowitz Benson Torres & Friedman as a firm that was full of “superior legal minds.” These days, people know Kasowitz Benson Torres & Friedman as a firm with close ties to President Donald Trump, with two name partners deeply entrenched in his regime. Name partner Marc Kasowitz essentially served as Trump’s legal heavy during the 2016 campaign, threatening to file suit against the New York Times after the publication of reports concerning his tax returns and several women’s sexual assault allegations, while name partner David Friedman served as Trump’s campaign adviser on U.S.-Israel relations.
Friedman was later nominated — and then confirmed — to become the U.S. Ambassador to Israel. Friedman was confirmed by the Senate on March 23, and he was scrubbed from the firm’s name the very next day. Was this a political maneuver to distance the firm from the Trump administration?
Not at all, says name partner Daniel Benson. The firm will now be known as Kasowitz Benson Torres due to New York ethics rules. Big Law Business has the details:
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David Friedman (Photo by Win McNamee/Getty)
Despite sensitivity over Kasowitz’s connection to Donald Trump, who has been a client of the firm for over 15 years, the name change had nothing to do with politics, according to nameplate partner Daniel Benson.
Reached by phone, Benson stated that the firm was thrilled at the appointment of Friedman, and that the name change was required to meet New York Rules of Professional Conduct, which stipulate that law firms cannot include the names of a living, non-employed lawyer in their trade name. Friedman has been with Kasowitz since 1994.
A name partner isn’t the only thing the firm has lost since its close affiliation with Trump was revealed. According to the Am Law Daily, in 2016, the firm’s gross revenue decreased by 7.5 percent to $217 million, its net income decreased by 10.5 percent to $72.5 million, and its headcount decreased by 6.7 percent, dropping from 282 to 263. This is the second year in a row that the firm’s financial metrics have declined.
Nevertheless, Kasowitz says the reaction within the firm to Friedman’s elevation to the ambassador position was “hugely [ed. note: YUGEly?] positive.” Per an announcement on its website, the firm will continue to “focus on complex commercial litigation and sophisticated real estate transactions” in Friedman’s wake.
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Congratulations to David Friedman on the ambassadorship. What an accomplishment! The Trump administration will now have at least one “superior legal mind.”
Kasowitz Benson Chops Off the Friedman [Big Law Business]
Kasowitz Reports Down Year; Trims Firm Name as Ex-Partner Assumes Ambassador Post [Am Law Daily]
Earlier: Lawsuit of the Day: Ex-Kasowitz Associate With ‘Superior Legal Mind’ Sues the Firm for $77 Million
Staci Zaretsky is an editor at Above the Law. She’d love to hear from you, so feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.
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