Exec to form his own management company

Splitting one of Hollywood’s major management companies in half, Rick Yorn has left the Firm, which he ran jointly with Jeff Kwatinetz.

Yorn and Kwatinetz parted company officially over the weekend.

Yorn will form his own management company shortly, taking with him a client list that includes Martin Scorsese, Leonardo DiCaprio, Benicio Del Toro, Justin Timberlake, Cameron Diaz and singer Pete Yorn, who’s his brother. According to sources, all of the clients have been informed and will follow Yorn.

Julie Yorn, who is his former sister-in-law, will leave the Firm and join Yorn in the new venture. She ran the film production division of the Firm, whose latest picture is “Max Payne,” the Mark Wahlberg starrer that topped the weekend box office.

Rick Yorn and Kwatinetz first joined forces in 2002, when the latter acquired Artists Management Group from Michael Ovitz and Yorn, with the latter staying on along with Julie Yorn.

At the time, Kwatinetz made no secret of the fact that he would like to become the next Ovitz, merging his music assets with the Yorns’ film clients and expertise to build a powerhouse company that represented talent ranging from touring bands to movie stars, with a thriving film production unit.

Their personal styles were very different, however. While Kwatinetz is fast-talking and hyperactive, Yorn is much more laid back. Indeed, he is known for being slow to return phone calls.

Kwatinetz founded the Firm in 1997 and built it to prominence primarily with musical acts.

Also joining Yorn is Jennifer Killoran, who runs DiCaprio’s production shingle Appian Way and in addition to co-managing DiCaprio and Timberlake, reps directors Richard Kelly and Robert Schwentke and writer John Orloff. She has been Yorn’s right hand person for a decade.

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