Paul Rosen, the co-leader of Crowell & Moring’s national security practice, earned more than $1,000,000 in partner compensation as part of his nomination for a top U.S. Treasury Department position.
Rosen was nominated to serve as Assistant Secretary of the Treasury for Investment Security. He joined Washington, D.C.-based Crowell, in 2017, from the U.S. Department of Homeland Security. Rosen was previously the chief of staff to Jeh Johnson, Obama’s DHS head. He is now a partner at Paul, Weiss, Rifkind, Wharton & Garrison.
Financial disclosures are required public ethics filings for many U.S. agency nominations and top officials. They can provide a snapshot of compensation at law companies, law schools, and law firms. They track income from the previous calendar year to the filing. Crowell reported Rosen receiving $1,018,070.
Rosen’s disclosure revealed that he provided legal services for Crowell clients, including Amazon.com Inc., Barclays PLC. Raytheon Technologies Corp. Cardinal Health Inc. and HP Inc. He stated that he cannot disclose the names and addresses of four people who are under investigation by a non-public grand jury.
Federal agencies generally prohibit new attorneys from handling matters involving former clients for at most one year.
Rosen did not respond to a Monday message seeking comment. His nomination is pending before the U.S. Senate Banking Committee.
According to a report by The American Lawyer last year, Crowell’s revenue per lawyer, which includes more than 500 lawyers, was $1.1 million in 2020. According to the report, profits per Crowell partner were $1.6million. An assistant secretary at Treasury earns about $176,000.
Rosen, a former federal prosecutor would also oversee Treasury’s participation on the Committee on Foreign Investment in the United States, the interagency body that reviews U.S. transactions that involve foreign investments.
The post was created in the wake of a CFIUS overhaul and became the first to be held by Thomas Feddo, former Alston & Bird international trading partner. Feddo is now a senior adviser at financial strategy firm Capstone DC.
Rosen stated on the ethics agreement that was accompanied by his financial disclosure, that he would resign upon confirmation from California’s Association of Business Trial Lawyers as well from his position on the U.S. Anti-Doping Agency board of directors.