He’s saying farewell to this position.
Nathaniel Cullerton, a 45-year-old partner who made headlines for being spotted with a junior associate in Central Park, has officially parted ways with Wachtell, Lipton, Rosen & Katz, as reported on Thursday.
A spokesperson for the firm confirmed that “Wachtell Lipton and Mr. Cullerton mutually agreed to part ways.”
After being filmed kissing 29-year-old associate Kelsey Borenzweig on a park bench in a viral TikTok, Cullerton had been on leave while the firm looked into their relationship, according to insider sources.
The public embarrassment of the situation seemed to raise concerns within the firm, primarily about the noticeable gap between Cullerton’s senior role and Borenzweig’s junior status.
It remains unclear if Cullerton was receiving pay during his leave or what effect the situation had on Borenzweig’s job.
The fallout from the kissing incident appears to have halted his transition to Gibson Dunn, as sources have indicated it cost him that lucrative opportunity.
Wachtell, known for its innovative legal strategies, faced additional strain this year with a series of notable departures.
Earlier in July, Bill Savitt, a leading litigator at the firm who notably assisted OpenAI in a case against Elon Musk, left for Gibson Dunn’s New York office. He was accompanied by five partners, which included Sarah Eddy, Anitha Reddy, Randall Jackson, Ryan McLeod, and Brad Wilson.
Cullerton was expected to join them, but plans changed after the TikTok incident gained attention.
Savitt’s own departure was under scrutiny due to reports linking him romantically to Eddy during their time at Wachtell. Their relationship reportedly began after Savitt separated from his wife, with Eddy having been divorced for about a decade. Interestingly, Eddy was not beneath Savitt in terms of rank.
The pair ended their relationship around the same time they left for Gibson Dunn.
Wachtell does not have a formal policy opposing consensual relationships among colleagues.
Recently, Linklaters announced the hiring of Mark Gordon, another prominent partner who exited Wachtell this year.
In April, Joshua Feltman, Wachtell’s previous head of restructuring, moved on to Kirkland & Ellis, signing a deal reportedly valued at $80 million.
A few younger partners have also made the shift to Latham & Watkins.
The legal industry seems to be in the midst of intense competition, with firms offering rich pay packages to attract partners from established firms.
Savitt’s move to Gibson Dunn supposedly came with a staggering $96 million contract over three years, averaging around $32 million each year, although a source close to the situation disputed that claim, saying it’s “not even in the ballpark of close.”
Wachtell is recognized as one of the higher-paying legal firms and is among the few maintaining a lockstep pay structure, which ties earnings more to tenure than performance. Reportedly, its partners earn more than those at any other firm in the U.S., according to the Financial Times.
