Michael Siegel, the former powerhouse boutique lit agency owner who merged his heady client list with Creative Artists Agency two years ago, will leave the percentery to form his own literary management firm, the agency confirmed Tuesday.
Siegel could not be reached for comment about the move, but sources said he will work out of his Los Angeles home repping clients as a manager and possibly producer for projects.
It was unclear which of his major clients would segue with him in the new company, including such lit luminaries as Elmore Leonard, Rafael Yglesias, Robert James Waller, Jay Cantor, Robert Olen Butler and the estate of Roald Dahl.
One source said all of the contracts Siegel had forged for them while at CAA would be maintained by the agency, even if the clients move with him.
“He’s in a funny spot,” one source said. “The contracts he made at CAA belong to them. He may have to leave some of them behind.”
Siegel came into CAA during the tail-end of the Michael Ovitz era. One source said that Siegel, who ran his own shop before, was never quite comfortable with the internal politics at the agency.
“He just wasn’t used to the restrictions of CAA,” another agent said.
CAA prexy Richard Lovett said: “Michael is a talented agent and a great friend. We know he’ll be very successful in his new endeavor and we give him our full support.”
Siegel started the Michael Siegel Agency in 1991. Before that, he worked at the former H.N. Swanson Inc.