Goldstein announced his move at a partner retreat last weekend, saying he was not going to stand for re-election and was leaving to become joint managing director of property client Heron International.
Goldstein, whose term ends in April, has been chief executive of Olswang since 1998, having joined the firm in 1992. In that time he has become one of the City’s best-known law firm leaders after taking Olswang’s helm while still in his early 30s.
Olswang will now kick off the process of finding a replacement, with a formal election to take place in the coming months. Although the firm has indicated that it hopes to find a successor largely through consultation with partners, rather than face a potentially divisive contested election, a number of names have already been mooted as potential contenders.
Partners within the firm suggest that candidates could include head of property Tim Westhead and head of litigation and international strategy David Stewart, while banking head Moni Mannings and media, communications and technology head David Zeffman have also been touted as possible candidates.
Partners at the firm were quick to concede that Goldstein has epitomised the Olswang leadership for the last nine years, but said they were not surprised by his decision. One commented: “He is very driven and we all knew he would move into the commercial arena sooner rather than later. It was just an itch he needed to scratch.”
Goldstein told Legal Week: “I think I have done a pretty good job, but the opportunity arose at a time when I was thinking about whether to continue for the next three years. I would like to think that I have left a firm that we have collectively built on sound footings, with good people that are all treated well. It has a strong sector focus, and I do not expect that that will change. I am sure the firm will continue to be very successful.”
Senior partner Mark Devereux said: “He is still only 40 so it looks like he still has two more careers in him.”
Goldstein is widely regarded as a key force behind Olswang’s rapid expansion from 1980s upstart to established City practice. He was instrumental in securing the takeover of DJ Freeman’s property team, which successfully diversified the firm from its core technology media focus into real estate, as well as forming an alliance with
See legalweekblogs.com/editorsblogs (5 February).