In a significant move, high-profile attorney David Boies announced he will pass on the chairmanship of his law firm, Boies Schiller Flexner, to Matthew L. Schwartz, a former federal prosecutor based out of Manhattan. Schwartz, who has been overseeing the firm’s day-to-day operations for the past three years, is set to formally assume his new role in January 2025, according to a report from Bloomberg Law.
This decision was made by the firm’s executive committee during their annual retreat in Florida. While Boies, 82, will retain his title for one more year, Schwartz, who has been co-managing the firm with Sigrid McCawley and Alan Vickery since 2020, will eventually take over.
Prior to joining Boies Schiller Flexner’s New York office in 2015, Schwartz was known for his successful career as a federal prosecutor, where he notably worked on the case that exposed Bernie Madoff’s infamous $64 billion Ponzi scheme.
Boies, a renowned litigator since the firm’s establishment in 1997, spoke highly of the transition, stating that the firm is in excellent shape as it prepares for this leadership change.
The succession hasn’t been a straightforward journey, though. Two earlier succession plans fell through as potential successors left due to disagreements over relinquishing full control. This eventually led to a reshaping of the firm, which then shifted its focus on plaintiff work.
Despite stepping down from his position, Boies and his founding partner, Jonathan Schiller, will retain considerable influence on the firm’s direction. According to a partnership agreement viewed by Bloomberg Law, they will remain members of the executive committee for as long as they are with the firm.