Updated 5:02 p.m.
Karl Racine, managing partner of Venable for the past six years, is stepping down to resume his white-collar and commercial-litigation practice, the firm announced on Monday.
Racine previously served as an associate White House counsel under President Clinton, advising on civil and criminal investigations. His practice focuses on high-profile civil and criminal matters.
Replacing Racine will be Lindsay Meyer and Robert Waldman, who will split the responsibility as co-managing partners. The firm also announced that Brian Schwalb has been named vice chairman. In this new role, Schwalb will support firm chairman James Shea.
Meyer, a Washington-based partner, is head of the international trade practice and co-chairman of the Foreign Corrupt Practices Act and anticorruption practice. For the past 15 years, she has been the administrative partner in the Washington office.
Baltimore-based Waldman, a tax partner, chairs the firm’s business division and has served as a senior manager for several years. Together, Meyer and Waldman represent two important practices and geographic locations within the firm.
“In creating our management structure, we wanted to make sure we reflected the diversity and structure of our firm,” Waldman said. “The overall theme is that as the firm has grown and become more complex, management challenges continue to grow.”
Splitting the responsibility of managing partner, Meyer said, will allow both attorneys to “continue with our practices and shepherd the robust growth that we’ve seen at Venable.”
The National Law Journal reported last week that the firm’s revenue for 2011 topped more than $355.5 million, marking a 5.3 percent increase over the year before.
“We have the benefit of coming off a very strong year and we’re looking to continue that growth and expansion,” Meyer said. “We are very excited about this new opportunity and structure.”
Photo by The National Law Journal's Diego M. Radzinschi.
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