Inside Zach Podolsky’s Big Move to Latham
Sonia Hickey, LawFuel contributing writer
M&A star Zach Podolsky is now a star at Latham & Watkins after leaving Wachtell Lipton, where he led some of the biggest deals in the country. His switch is a major win for Latham but an equally big loss for Wachtell.
Known for his work on major energy deals, Podolsky led Wachtell’s team on APA’s $4.5 billion buy of Callon Petroleum, among other top deals, making him one of the most recognized names in mergers and acquisitions.
In 2024, he ranked second globally by MergerLinks for advising on nearly $70 billion in transactions, including the ConocoPhillips acquisition of Marathon Oil and Diamondback Energy’s purchase of Endeavor Energy Resources.
The Financial Times said he was the ‘$210bn dealmaker’.
Wachtell, Lipton, Rosen & Katz is one of the major deal-making law firms in the US, despite numbering only a few hundred lawyers with a single New York office.
It is unusual for the firm to lose lawyers, particularly given the commanding pay deals they receive at the firm.
Podolsky is the second Wachtell partner to join Latham this year, following John Sobolewski. The high profile moves of such legal stars signals Latham’s ambition to dominate the M&A field and adds firepower to its global team.
Client Relationships
Podolsky’s ability to bring clients with him is a hot topic among lawyers. Some question if he can move enough business from Wachtell’s powerful brand to make a real impact at Latham. Others point to past examples, like Ed Lee’s move to Kirkland, as proof that top dealmakers can shift client loyalties.
An important point about Podolsky is that he is a leader not just for his deal volume, but for his strategic thinking. His work has set standards in the energy and corporate sectors, and he is often cited as a go-to lawyer for complex, high-stakes transactions.
Podolsky is known for mentoring younger lawyers and building strong teams. His collaborative approach has helped shape the next generation of dealmaker
Personal Background
While there is no public record of direct family ties to other notable Podolskys in law or business, the Podolsky name is prominent in Chicago real estate and New York commercial property.
For example, Podolsky Northstar Realty Partners in Chicago is led by Randy and Steven Podolsky, who merged family businesses and built a regional powerhouse. The Podolsky name is well known in business circles and Zach Podolsky is known for his sharp intellect and his knack for making clients feel secure in turbulent, high stakes deals.
Big Deals, Big Impact
Podolsky’s work on major energy deals has reshaped the industry. His leadership on the ConocoPhillips and Diamondback transactions alone has moved billions in assets and set new benchmarks for M&A lawyers.
In 2023 he co-lead a dozen lawyers representing Hess in its agreement to be acquired by Chevron in an all-stock transaction valued at $53 billion, also pulling off ‘dealmaker of the year’ from American Lawyer alongside colleague Karessa Cain.
His move to Latham is more than a job change, but also a signal that the old ways of law firm loyalty may be shifting. As lockstep models at elite firms face scrutiny, Podolsky’s decision is a case study in modern legal careers.
The legal pay ‘arms race’ that we have reported on earlier indicate the money and profile that is at risk with these major deals among big-league players like Podolsky and others.
Pay scales are changing and so are remuneration methods. Being called a partner once meant you were an owner of a business, but all that is changing in law firms and a ‘partner’ can mean anything from ownership, partial ownership or no ownership at all.
High profile moves like this are ones that also reshape how big law operates and how they remunerate their top stars. The moves are seismic in terms of their impact upon the firms that lose/gain such high level players.
Think of Podolsky as the LeBron James of M&A: a star player whose every move is watched, whose presence can change the balance of power in the league.
Podolsky doesn’t just close deals, but also opens new chapters for the firms he joins.
Really interesting move by Podolsky! Does anyone think that his ability to bring clients over to Latham will set a new trend for how big law operates? Keen to hear thoughts.
So Podolsky moves and suddenly it’s a game changer? Seen this story a dozen times. Clients stick where their interests are best served, not just follow a name. But hey, good PR for Latham, I guess.
Podolsky’s significant influence in energy sector M&A is undeniable. His leadership on the ConocoPhillips deal alone speaks volumes about his strategic vision. It’ll be fascinating to watch how his expertise amplifies Latham’s market positioning.
Do you think Podolsky’s move might inspire more big deal lawyers to switch firms, aiming for bigger impacts?
interesting move for zach podolsky. wonder how it’ll shake up the market. anyone got more insights on how this might affect the smaller players?
Let’s not jump to conclusions about the impact of Podolsky’s move on Latham’s client portfolio. It’s more about the synergy between his expertise and their existing capabilities. Real value comes from leveraging that, rather than just name-dropping.
Interesting perspective, Neal. Do we have any precedents or data showing how similar moves have affected firms’ revenues or client bases in the past?
Sarah, while exact data is rare due to confidentiality, industry patterns suggest that while some clients follow star lawyers, the firm’s broader capabilities & cultural fit are just as crucial. It’s a complex equation.
To everyone discussing Podolsky’s potential impact at Latham: Remember, the true measure of such a move can only be gauged by the long-term retention and growth of client relations. It’s past successes, not just the immediate buzz, that define a successful transition.
Absolutely, Frankie. It’s all about the long game. Quick wins are great, but sustainable growth comes from consistent performance and adaptability. Historically, how have such transitions impacted firms after the initial year?