Fried Frank Harris Shriver & Jacobson has named a new chair to succeed veteran David Greenwald, amid a wider leadership change that has also seen the top 70 US firm create managing partner and vice chair roles. 

Kenneth Rosh will take over as Fried Frank’s chair 1 March 2024 from Greenwald, who has led the New York-based firm since 2014. 

In a first for the firm, Fried Frank has established a “client-focused leadership team, in which each member of firm leadership will combine management duties while remaining fully immersed in their active practices”.

To that end Steven Epstein, co-head of the firm’s M&A practice, has been named as managing partner while Scott Luftglass, co-head of the securities and shareholder litigation practice, has been made vice chair. Like Rosh the duo are based in New York and will step into their new roles on 1 March. 

As chair, Rosh will oversee all firm matters and will shape Fried Frank’s strategic direction, including a commitment to grow while fostering broader diversity and inclusion. Epstein will focus on strategic initiatives as well as firmwide client development and lateral hiring, while Luftglass will focus on the day-to-day running of the firm. He is also expected to work closely with Rosh and Epstein on strategic firm matters.

Rosh leads Fried Frank’s private equity funds group and is a member of its governance committee. A veteran of the firm of 35 years, he has worked with clients including Bain Capital, Goldman Sachs and KKR and will remain head of the practice while serving as chair.

“I am honored to work with Steve, Scott and other senior firm leaders to take our firm into this new era,” Rosh said. “We will be focused on delivering growth through continued outstanding client service and talent acquisition across our core strengths.”

Greenwald’s decade at the helm of Fried Frank saw the firm grow revenue from $460m in 2014 to $958.4m in 2022, according to data from The American Lawyer. The firm said that profits tripled also over that period, though in 2022 profits per equity partner dipped 15% to $3.6m amid rising expenses and a slowdown in transactional work. 

Greenwald began his legal career at Fried Frank in 1983, working principally with private equity clients on M&A transactions. He joined Goldman Sachs’ legal department in 1994, rising to become international general counsel and deputy general counsel before rejoining Fried Frank in 2013.  

As chair, Greenwald’s strategy focused on growing the firm’s four largest practices – M&A/PE, asset management, real estate and litigation. He is set to retire after standing down and will focus on his role as co-chair of the board of trustees of Columbia University, Fried Frank said.  

“I am immensely proud of the firm and of what we have accomplished together over the last 10 years,” Greenwald said. “As I pass the torch to Ken and this great leadership team, I am confident that they embody a vision of growth and innovation.”

Another Big Law firm to announce a change of leadership recently was Cooley, which last month named San Francisco corporate practice head Rachel Proffitt as its first ever female CEO. She will take over 1 January from Joe Conroy, who has led the firm since 2008.

Also last month Winston & Strawn named global litgation co-chair Steve D’Amore as the successor to veteran chairman Tom Fitzgerald, who will step down in June 2024 after almost two decades at the helm of the Chicago-based firm.