Tag Archive for: Big Law

Women’s History Month Offers an Opportunity to Reflect on the Importance of Women Leaders

,

Laura MartinBy Laura Keidan Martin, National Chair of Katten Muchin Rosenman’s Women’s Leadership Forum and member of the firm’s Board of Directors and Executive Committee

In honor of Women’s History Month, it’s important we take the time to celebrate our accomplishments and the progress we have made as working women but also to reflect on the work that lies ahead so women in all professions, particularly in the legal field and others that are traditionally male dominated, can achieve gender parity and equity – especially at the leadership and partnership levels.

At Katten, women attorneys are making a mark. Women are represented at every leadership level from practice head and office managing partner to the board of directors and the executive committee, which oversees all governance activities and sets policies for the firm.

This year, not only are Katten’s female attorneys garnering accolades for their hard work and many achievements, but the firm has also been recognized for its efforts to support the career advancement of women and improve diversity and inclusion in the workplace. Katten secured spots on the 2018 lists of Working Mother’s 100 Best Companies and 60 Best Law Firms for Women, as well as Yale Law Women’s Top Ten Female Friendly Firms. Katten also achieved Gold Standard certification from the Women in Law Empowerment Forum and is among National Association for Female Executives’ Top Companies for Executive Women.

But make no mistake: there are still more gains to be made as the number of women attorneys advancing to higher levels is sluggish among law firms in general. And the rate of female minorities ascending to positions of power has lagged even farther behind in the legal profession.

As National Chair of Katten’s Women’s Leadership Forum and a member of the firm’s Board of Directors and Executive Committee, I have a personal commitment to advancing and retaining women attorneys through mentoring, external networking, internal relationship-building and career development programs. We want to see women rise to the top at Katten. That’s why as leaders we aim to do more and to do better by offering firm programs and policies to help women climb the career ladder and develop the skills they need to advance to leadership roles.

Women leaders are integral to the success of empowering all women at all stages of their careers. And that’s why Katten’s female leaders are so vested in the development and implementation of programs and policies that help women reach their professional goals. We believe that women’s upfront involvement is critical to getting these initiatives right and vital to our success.

Our women leaders also serve on the firm’s National Mentoring Panel, which is made up of 17 successful female partners recognized as leaders in their fields. These women serve as role models and share their professional and personal experiences as a means of helping their colleagues. But the objective is to be more than just a mentor. Fellow board member Nadira Clarke likes to remind us, “Women leaders can impact how women get business, how they are compensated, whether or not their work is recognized, or whether or not they get promoted.”

Katten leaders continue to work hard to identify the next generation of female leaders at the firm and provide the tools they need to succeed, including diversity-focused initiatives, in which female attorneys of color participate. Such programs can assist in building leadership skills, developing client relationships and generating substantial books of business, which can go a long way toward a greater likelihood of career advancement – and it’s simply good business sense for the firm as well.

Katten is also committed to dedicating resources to set women on successful career paths. We want to empower our female attorneys at various stages in their careers so they see an attainable, upward trajectory at Katten.

And most importantly, we know we can’t achieve greater gender-balance alone. That’s why we collaborate with organizations at the forefront of generating innovative ideas and solutions that will assist us with improving the retention and promotion of our female attorneys. By working together we learn from each other’s best practices so that we can continue to create positive change.

That’s why we teamed with Diversity Lab’s Women in Law Hackathon, which brings together law firms across the nation to create solutions to boost the retention and advancement of women in law, and pledged our commitment to the CEO Action for Diversity & Inclusion initiative, dedicated to advancing diversity and inclusion within the workplace.

That’s why we signed on to the Mansfield Rule initiative (a winning idea from the 2016 Hackathon). It was a major milestone when Katten achieved certification for meeting Mansfield Rule standards by ensuring that women and attorneys of color make up at least 30 percent of the candidate pool for firm leadership and governance roles, equity partner promotions and senior lateral positions. This year we are also participating in the Mansfield Rule 2.0 which expands our agreement to be even more mindful of diversity by tracking roles in client pitch meetings, including LGBTQ+ lawyers as part of the diverse candidate pool, and making sure that appointment and election processes are transparent to all lawyers.

All of these efforts combine to help push male-dominated industries to focus on creating diverse teams and to snuff out bias, whether intentional or unintentional. They help put more women in the room and at the table when key business decisions, promotions, or job offers are being made. They help transform what leadership looks like today and what it should look like tomorrow. They help encourage the next generation of women to pursue careers in these fields because they see more and more women represented in the industry.

This Women’s History Month, let’s celebrate the affirmative impact of women in the legal profession and renew our commitment to diversity, innovation and greater gender-balance in the workplace. We all have a role to play, to lean in, lead the way and be the change agents. Our careers, businesses and society will be stronger for it.

/by

Voice of Experience: Sandra Bang, Chief Diversity and Talent Strategy Officer at Shearman & Sterling LLP

Sandra Bang“When it comes to diversity and inclusion, we have to continually find many ways to talk about it openly, even if this involves having difficult conversations,because although it may feel challenging, the end result will be worth it for everyone“ states Sandra Bang, Chief Diversity and Talent Strategy Officer at Shearman & Sterling LLP.

She continues, “Having dialogue, listening to each other’s stories about how we learn, develop, grow,and achieve career successes – hearing a diverse range of perspectives – will help support everyone better, and create a more inclusive environment.

Ms. Bang started her legal career as a litigator in Toronto, Canada. She also spent a year as a provincial prosecutor stating, “This was an incredible learning experience for me because I had to think on my feet every day, not always knowing what cases I was going to handle on a given day, nor which cases would settle or proceed.”

Bang then went into legal recruitment and professional development, and moved to New York City in 2004 where she continued her work in the legal talent management space with firms such as Weil, Gotshal & Manges and Chadbourne & Parke before joining Shearman and Sterling in 2008.

She continues, “Diversity and inclusion has always been an inherent part of the legal talent recruitment, development and management work that I’ve done. I am excited about my current work as it allows me to spend the majority of my time on diversity and inclusion. And this work is about engaging people, and strategically creating an inclusive work environment where everyone can feel like they belong and do their best work and advance their career. The business case is clear: the research and data show that better results are achieved when you have both an inclusive environment and diverse teams.”

She is enthused about diversity and inclusion as an integral part of the firm’s business strategy and sees that clients are also committed to moving the needle on diversity and inclusion. She comments,

“I think the efforts being made in the legal industry on the diversity and inclusion front has moved up a notch as the benefits of collaborating on this topic are evident. It is exciting to work closely with clients and having dialogue around how we can help each other create change from both a business and organizational perspective.”

Feeling Engaged and Feeling included

As an executive who has spent several years in professional development and is a certified coach, Bang feels that talking to people, particularly those from diverse backgrounds, about their career path – listening to what people want to achieve, giving them feedback that will help them get to where they want to go, and providing opportunities to achieve new experiences and success – is both a business imperative and the right thing to do. She shares,

“Having a sense of belonging in our work environment and feeling understood is essential. If you are are in a business environment and you constantly feel like you don’t belong, then you can’t do your best work. Coaching leaders and managers to lead and manage inclusively, and create diverse teams with members who feel included and understood in the workplace will not only help people achieve and serve clients better, but also produce better business results.”

When asked what career advice that she would give her younger self or to others, she says, ‘that it is more than ok to fail’ and recounts that the idea of perfectionism had a stronghold grip on her for a long time. She shares, “It wasn’t until recently that I realized that it’s ok to fail and fail fast. That’s how you learn. When you fail, you pick yourself up, and try something differently. Ultimately, it is about taking more risks.”

She is a strong advocate for encouraging people to ask for what they need and want to advance their careers, particularly women and people from diverse backgrounds. The subject of entering into conversations comes up, with Bang advising people to be smart and strategic around their asks, but to face their own fears by asking ‘the questions that we are afraid to ask’. She says, “You won’t get what you don’t ask for.”

Generational Change

Bang believes that Millennials will continue to have a significant impact on how the needle will be moved on the topic of diversity and inclusion in the workplace. “Millennials know that there is a business and competitive advantage to having a diverse team, where there is diversity in perspectives, thoughts and insights result in a better outcome.”

Shearman & Sterling is taking all of this into consideration as it takes its diversity and inclusion strategy to the next level. With recommendations resulting from an inclusion diagnostic, the firm has created a new global Task Force, headed up by the firm’s Senior Partner, and will take a data driven approach to designing and rolling out initiatives and programs to better help everyone achieve career success at the firm. Shearman continues its close work with clients on co-hosting diversity and inclusion education and awareness programs, as well as advancing know-how and networking opportunities on topics such as Blockchain and the FinTech industry generally.

“It’s exciting to be working collaboratively with both internal and external clients,” says Bang, “to create learning and advancement opportunities for women and people from diverse backgrounds and experiences in particular. Using data and client driven approaches, that align with business strategy, to advance diversity and inclusion initiatives, is what it is all about.”

Renewal and Life outside work

Outside of work, Bang enjoys spending time and traveling with her family. She comments that traveling provides so many opportunities to learn and share — including the diverse communities within and outside the US, and of different perspectives and experiences.

“Traveling with my kids always presents tremendous learning opportunities for me. I love hearing their perspectives on things we do, places we explore and people we meet. They remind me that there is great optimism to be had because people remain curious, and as the world becomes increasingly more connected, there is a greater sharing of culture and stories.”

/by

Voice Of Experience: Amanda Segal, Partner, Katten Muchin Rosenman LLP

Amanda Segal
There’s no set path to success, says Amanda Segal, head of Katten’s Distressed Debt and Claims Trading practice.

“Everyone’s professional journey is different, and for a planner—as many attorneys are—it can feel unsettling when the road starts to twist and turn. But one of the best things you can do is be flexible, patient, and let your trajectory develop organically.”

When Segal started her career, she thought she would progress up the ladder as a bankruptcy litigator, but her career path took a different course as dynamics in the financial market helped steer her towards attractive new opportunities. “You will be better equipped as a professional if you are open-minded and able to adapt to the evolving needs and priorities of your clients and employers.”

Building a Career Unique to Her

For Segal, that approach has led her to a successful career. After law school, she joined Kramer Levin Naftalis & Frankel LLP as a bankruptcy associate. Three years later, with the financial crisis looming, she saw an opportunity to parlay her experience into a more transactional practice in the area of distressed debt at Richards Kibbe & Orbe LLP. She spent ten years at the firm, where she secured the requisite expertise and experience to make the move a little over a year ago to head Katten’s Distressed Debt and Claims Trading practice.

At Katten, she leads a team of attorneys advising clients through the acquisition and sale of distressed assets, including trade claims against bankruptcy estates, litigation claims, bank loans, and a variety of other investments. Her team—well versed and deeply immersed in financial services—works with related practice areas, including bankruptcy, commercial finance, tax, private equity and more, to provide the firm’s clients with tailored legal advice and transactional support in a wide range of circumstances. Segal believes this will be increasingly important as volatility in the financial market continues to rise.

“Because our practice integrates the talents of so many dedicated attorneys and professionals across the firm, we have the unique ability to look at large bankruptcy cases across multiple sectors. This will enable us to offer ‘big picture’ guidance as our clients navigate the next distressed cycle.”

For attorneys just starting their career, Segal highlights the importance of being empathetic to clients and colleagues. “When you are able to put yourself in someone else’s shoes and view an issue from multiple perspectives, it helps make you a more relatable professional and leader and, ultimately, a more effective advocate.”

She also advises young attorneys to “play the long game.” “Surround yourself with trusted advisors and mentors; use every occasion to network, and work hard to maintain and build upon relationships. Over time, those relationships will provide the backbone for a more productive and fulfilling career.”

Finding Balance in the Workplace

Segal points out that even though law firms have become far more open and accepting of work/life balance, there is no one-size-fits-all solution. “Every woman’s professional and personal needs are different, so there’s no formula. Each woman must determine what works best for her and her family—sometimes simply through trial and error. The end result won’t look the same for everyone.”

Katten hosts a Women’s Leadership Forum that she has found valuable for building relationships across the firm, and also provides skill building, internal and external networking, mentorship and professional development. “Katten has consistently been recognized as a top firm for women, which I have been fortunate to experience first-hand,” she says.

With five-year-old twin daughters, Segal prioritizes a balance between work and family time, running marathons and maintaining a healthy lifestyle, and cheering on the basketball team of her alma mater, Duke University.

/by

Voice of Experience: Emma Maconick, Partner, Shearman & Sterling

Emma MaconickWhile you can’t choose your circumstances, you can choose how you react to them, says Shearman & Sterling’s Emma Maconick.

“If I could, I would tell the junior version of myself to focus on relationships because they will all matter in some way,” she says. “Giving without expecting anything in return will do more to enhance your career than anything else. The act of being a helpful, useful person in your network is an incredibly valuable skill.”

Seizing Opportunities Provides A Strong Foundation

“Meandering.” That’s how Maconick describes her career, which began in England in the mid- 90s. Back then, she was doing computer and tech work for corporate entities and capital markets. And the more she heard about private equity investing in the then-new “internet,” the more interested she became in the sector.

Thanks to a contact she made at a casual party, she ended up working for an Australian law firm’s Auckland, New Zealand office, which in retrospect she believes was an excellent career move. She found herself traveling up the career ladder, becoming a big fish in a little pond with tremendous exposure to a host of smaller tech companies.

Later on, thanks to a former colleague in the San Francisco Bay Area who knew she was interested in transactional law, she came back to the United States to work at Davis Polk. She worked there for several years before moving to Shearman in June.

While Maconick has spearheaded a variety of impressive technology projects, product launches and fascinating deals over the years, she is most proud of the teams she’s built throughout her career. “My legacy isn’t as much what I personally will do, but what the people I have managed will do,” she says. “I tend to give them a lot of rope to venture out on their own, but I am also there to catch them before they fall. My job is to make them not need me, but always want me,” she says.

Her current work is focused on data, sitting at the intersection of intellectual property, cybersecurity and governance. While an Economist article had famously stated that “data is the new oil,” Maconick goes a step further. “I think it’s even more elemental; it’s the new carbon,” she says, adding that everything will be data-driven, which is why issues around artificial intelligence and ethics and how we build the upcoming digital world are so crucial.

Standing Out To Get Ahead

Maconick recommends that professional women develop an indispensable set of skills, and put their own spin on it.

She says it’s imperative to find out what’s valued in a particular organization — whether it’s culture, sales, creativity or something else — and focus on that. “Nothing magnifies your voice more than being able to generate work for your team.”

As women move up in the corporate world, Maconick believes women can take advantage of their inherent disposition for being relationship and empathy-focused. As computers take over manual tasks, interconnectedness, an area where women excel, will be a real value driver, allowing them to understand clients and their business challenges.

“These skills can shift the balance of power in your favor,” she says.

Professional women can help uplift others through tiny, incremental changes. For instance, if there is a spot open on a key project, suggest it be staffed with a woman capable of doing the job.

Shearman places a lot of importance on diversity. The firm provides skill-building sessions such as “practice your pitch,” and encourages associates to take the time to participate in conferences. It also holds monthly meetings featuring new opportunities or support with professional growth.

Finding Balance With Varied Interests

Maconick is active with the national group Ellevate, as well as Shearman’s WISER (Women’s Initiative for Success, Excellence and Retention) group. She also sits on the board of Upward Women, which focuses on elevating senior-level women. “The key is to find or form your own stiletto network or book club or whatever works for you, as a way to connect with other professionals.”

Most of her time outside work is devoted to her two sons, ages three and seven. Although her schedule is limited, she also enjoys ceramic arts and pottery, which provide both a mental and creative boost.

A travel junkie, Maconick is proud of her 6 x 8 foot map covered in pins marking all the places she’s been. “My life is oriented toward the next cool trip,” she says, adding that her kids are becoming highly adept travelers as well. She continues, “I traveled a lot as a kid and love other cultures, food and languages; whether we seek them in the next state or on the other side of the world, I find it enormously enriching.”

/by