From 6 p.m. on, just call him 'Rick'. Federal Judge Richard Holwell, who presided over the insider trading case of the Galleon founder Raj Rajaratnam, is stepping down from the bench to set up his own law firm.  In an interview, Holwell, 65, said he is resigning effective 5 p.m. on Tuesday, and starting his new firm at 6 p.m. Holwell Shuster & Goldberg will be a far cry from White & Case, where Holwell had been a longtime litigation partner.  In 2002, he was nominated by President George W. Bush to serve on the bench, which he did, from 2003 to present.  He said that while in many ways being a judge was the best job that lawyer could possibly have, there were some downsides. “I’ve had a great time on the bench.  But I had an opportunity to start a firm and it’s something every lawyer dreams of doing. I wanted to stretch my legs."

“It’s an extremely rewarding job but can also be an extremely isolating job and that can be challenging. Your role is to stand away from the fray. No one sends you e-mail or calls you on the phone. It’s a fact of life and every judge feels that isolation.”

During the 6-day Rajaratnam trial, Judge Holwell was an unobtrusive, almost dour presence at times, rarely inserting himself into the proceedings.  Judge Holwell seemed wary of the media attention during the Rajaratnam trial, often holding closed-door sessions in his chambers outside the presence of the press.  On Tuesday, he said that his intention during the case was to maintain a low profile. Other judges involved in the insider trading prosecutions have taken a more active role on the bench.  Take, for example, Judge Jed Rakoff.  He readily fires off witty one liners and jousts with the lawyers on both sides of the case. Judge Rakoff even posed for a photograph in Vanity Fair, which is featured in the current newsstand issue with a brief write-up on the judge. New Firm. The new firm brings Holwell, a graduate of Columbia Law School, together with former White & Case partners - Michael Shuster and Daniel Goldberg.  The firm is styling itself as a litigation boutique with a focus on complex commercial litigation and a specialty in antitrust, bankruptcy, and securties law work.  Mr. Shuster and Mr. Goldberg most recently worked at Kasowitz Benson Torres & Friedman.  Dorit Ungar Black, another former Kasowitz Benson partner, will also join the new firm, which will have offices in Midtown Manhattan. Many judges retain the honorific “Judge” or “The Honorable” after they turn in their robes. Would Judge Holwell continue to go by “Judge Holwell” once he returns to his roots as an advocate?   “I’m going back to Rick,” Judge Holwell said. [DealBook, 2/7/12]