Ex-Skadden Chair Friedman Retiring, to Join Legal Tech Boards

Eric Friedman, who led Skadden for 15 years as its chair and executive partner, is retiring from the law firm where he practiced for 35 years.

A mergers and acquisitions partner, Friedman took the helm of Skadden in April 2009, amid the worst financial crisis in decades. The firm, known for its work on the largest corporate transactions, was the first to cross the $1 billion revenue mark in 2015. It has since been surpassed on that score by a handful of firms, including Kirkland & Ellis and Latham & Watkins.

Jeremy London, a New York and Washington-based partner, succeeded Friedman as executive partner in April.

In an interview, Friedman said he was proud of the accomplishments of the firm during his tenure, noting it is “bittersweet” to leave a firm that he’s called home for more than three decades.

Eric Friedman

Skadden

“Skadden is in a position of strength right now,” Friedman said. “We’ve achieved a lot and I have great confidence the firm is really well-positioned to go forward and be a leader in the profession.”

In retirement, Friedman will join the boards of directors for two legal tech companies, Litera and Ironclad, using his knowledge of the business of law to help them advance their products and boost adoption of their tools.

Friedman also serves on boards for the Leadership Council for Legal Diversity, the University of Pennsylvania’s law school, and the Mount Sinai Health System.

Litera is a maker of legal tech products including tools to help draft legal documents, AI-powered contract review, knowledge management, and financial, pricing and analytics offerings.

Ironclad focuses on automating contract processes, including for legal, sales, procurement and IT professionals at major companies.

Friedman said the legal industry is “evolving faster than people anticipated” with the introduction of generative artificial intelligence. As he considered retirement, he started looking for opportunities to participate in the AI transition at law firms.

“AI is here to stay,” he said. “It’s going to help law firms produce quality work more efficiently, to harness their experience better to serve clients, and to win more business.”

He added: “I don’t see a scenario where AI is replacing judgment and critical analysis.”

Friedman had well-developed views on AI and legal tech more broadly, the company’s chief executive officer, Avaneesh Marwaha, said in an interview.

“He’s able to talk directly from the seat of a managing partner from one of the largest firms in the world, and it’s helping us move a lot faster,” Marwaha said.

Jason Boehmig, CEO at Ironclad, said Friedman would help guide its leadership team during a “time of transformation.”

“His deep industry expertise, combined with his genuine thoughtfulness and commitment to nurturing a strong culture, will be invaluable to our growth,” Boehmig said in a statement.

Friedman’s tenure running Skadden coincided with vast industry changes, including star partners switching firms more frequently and soaring compensation.

He said those changes make it more challenging to build a strong culture that keeps partners invested in their firms.

“There is no room for complacency in Big Law,” Friedman said. “That hasn’t changed, it has just gotten more pronounced.”

(Bloomberg Law also sells legal research tools and contract management, including some that make use of GenAI.)