Mandelbaum Salsburg, P.C., Roseland, one of New Jersey’s oldest and most respected law firms, announced that William S. Barrett, 44, was named co-Chief Executive Officer at the firm, jointly managing the firm with Barry R. Mandelbaum.
Barrett, a resident of Mountain Lakes, was the firm’s Chief Operating Officer for the past three years. He has been a shareholder in the firm since 2003 and a member of Mandelbaum Salsburg’s executive management committee since 2006.
“This is one of those pivotal moments in the 86-year history of Mandelbaum Salsburg,” said Barry Mandelbaum, who has served as the firm’s CEO for the past 47 years. “Bill has been an asset to the firm since his first day in 1999, and has been an indispensible part of the firm’s evolution over the last 10 years. Bill represents the new generation of attorneys that we’ve brought in to ensure the firm’s future growth, and we look forward to his continued leadership.
“Bill has earned the respect and recognition from his peers as a talented lawyer who is thought of highly among clients, as well as a proven leader who has shown an ability to grow the firm,” Mandelbaum added.
Barrett’s appointment is another step in the firm’s overall succession plan, which includes recent revisions to the firm’s shareholder agreement and the corporate organization. Mandelbaum stated he has no plans to retire, and continues to be active in both leading the firm and as chair of the firm’s real estate practice.
According to Mandelbaum, Barrett’s rise within the firm is not unusual in that the firm operates as a meritocracy, with executive positions not influenced by seniority. “When someone produces as Bill has on a number of fronts – from client service, to firm leadership and growing revenue – it’s just natural to rise through the ranks,” he said.
During Barrett’s tenure as COO, Mandelbaum Salsburg has expanded the firm by adding innovative, cutting-edge legal practices in structured finance; cybersecurity and privacy; intellectual property; environmental; elder law; and special needs; as well as expanding its healthcare, life sciences and employment law groups. The firm added 12 attorneys in these new and expanded practice areas in the last 12 months.
“When Richard Salsburg passed away in 2010, I realized that the firm needed a succession plan, but just as importantly, I realized we needed to ensure each of our practice areas was positioned for the future,” said Mandelbaum. “We set out to recruit the next generation of talented attorneys across a wide range of skills and disciplines, and since then, Bill and other members of the executive management committee have worked continuously to make sure we remain young and relevant.”
Barrett also spearheaded Mandelbaum Salsburg’s December 2014 move from its long-time West Orange offices to new offices in Roseland. The firm had outgrown the West Orange building it occupied since 1984. Additionally, earlier this year the firm relocated its New York City offices to 3 Park Ave.
Barrett will continue to chair the firm’s Corporate Law and Professional Practice Transitions groups. His clients include commercial organizations and entrepreneurs in varied industry such as manufacturing, professional services, banking, finance, construction, real estate development and healthcare. Barrett counsels clients on corporate issues such as mergers and acquisitions, private equity placements, commercial finance transactions, and intellectual property matters. He also advises on employment law compliance, structure of executive compensation programs and agreements, as well as business succession and related planning.
“A large part of my role at the firm is to build on the great foundation that Barry has created, and continues to enhance,” said Barrett. “As proud as I am of the firm’s past, I’m just as confident about the firm’s future. We’ve expanded strategically into new practice areas and been able to attract young, dynamic talent to continue to meet the needs and challenges of our growing roster of clients.”
Barrett began his career at Shearman & Sterling, in New York City, practicing there as an associate in 1998-1999 before joining Mandelbaum Salsburg.
Barrett is active within the community, serving, since his election in 2015, as a Borough Council member in Mountain Lakes. Additionally, he is a member the Metro Business Alliance, and the New Jersey and New York bar.Related Articles: