Tag Archive for: working mother

Allison Yacker: Partner and Co-Chair, Investment Management and Funds, Katten

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Allison Yacker“From the moment I joined Katten, the attorneys most keen to invest in me — both personally and professionally — quickly became my mentors,” says Katten’s Allison Yacker.

“Reflecting on that moment, not only were those mentors some of the smartest and hardest working attorneys at Katten, but more importantly they were the ones who realized this was a two-way street.” Years later, Yacker now co-chairs the firm’s Investment Management and Funds practice and is based in New York.

Yacker offered insights on her journey to becoming a firm leader, and being recognized as a great mother and a go-to legal counsel for some of the largest global financial institutions.

Pivoting to Make Her Own Path, and Rising to Leadership at Katten

Throughout her 18 years at Katten, Yacker continues to rise through the firm ranks: from being selected as a summer associate, to becoming one of the youngest capital partners in the firm, to acting as a co-chair of the New York Financial Markets and Funds practice group and serving as a member of the firm’s Board of Directors.

“I knew Katten was a great place to work, and by the time I was a third-year associate I had solidified a terrific roster of mentors who happened to be all men,” Yacker said. “As I thrived in my career, I was determined to make capital partner by the time I was 40 and to serve in a leadership position at the firm because I wanted to prove to myself that it was possible and to help create a similar path for other women in the firm.”

And she did just that.

Yacker began her career at Katten in the corporate group, handling general securities work and mergers and acquisitions. She credits this experience with providing her the skillset that would serve as the foundation for her current practice. 

Soon Yacker was presented with the opportunity to be seconded to a major financial institution, where she gained practical legal experience in the derivatives and private funds market. Yacker relished the experience, and quickly found that the clients she enjoyed working with the most were traders and key decision-makers at hedge funds and private equity funds.

When she returned to the firm from her secondment, she quickly realized that she was one of only a few associates who could handle complex derivatives and structured products transactions for both the buy and sell sides. These types of transactions were regularly handled by the Financial Markets and Funds group, so when practice leaders invited her to join the group she knew it would provide her the platform needed to expand upon this niche. She jumped at the opportunity.

But in 2008, when the Dodd-Frank Act was enacted, she quickly realized that the complex derivatives transactions that she had spent a significant amount of time on were essentially regulated out of business. Good lawyers anticipate future risks; great lawyers identify it and pivot. It was at that moment Yacker decided to move away from derivatives and toward refocusing her practice on fund formation and investment management. There she found success faster than anticipated, and her clients quickly came and continue to rely on her to serve as their outsourced general counsel. Later on, she would pivot again – this time toward representing sophisticated investors looking to make investments in hedge funds, private equity funds, and other alternative financial products.  

Today Yacker represents hedge funds, private equity funds, commodity pools and managed account platforms that engage in a wide variety of strategies, including quantitative trading, private credit, distressed debt, futures, litigation finance, securitized products, affordable housing, renewable energy and carbon credits, to name a few. She also advises clients with regards to seed and early stage investment opportunities and global regulatory issues that arise in connection with investments in funds and managed accounts.

“You need to be able to work dynamically within your industry to find a practice that makes sense for you — one in which you respect and like the client base, and, most importantly, one that you enjoy,” Yacker said. “Do not be reactionary when it comes to your career, be proactive, take the reins and make the tough decisions.” 

Being Her Personal and Professional Self

In 2018, Yacker was named Katten’s Working Mother of the Year by Working Mother magazine. The article profiling her pointed out how integration of personal and professional self is only growing in importance. 

“Personal and professional—the lines become blurred when you’re predominantly working from home in New York City and raising two children who are remote learning,” she said. “It’s definitely a challenge to shift back and forth between the mom hat, the teacher hat, and the lawyer hat,” says Yacker. “When it comes to my kids, I make every effort to do so with love and respect, and of course a sense of humor, which I know resonates with my children.”

All joking aside, she remarked that her career often dictates that she be deliberate and efficient with her time, and that she create boundaries for herself and her children so that no aspect of the services she provides to her clients is impacted. To that end, she noted that she periodically goes to Katten’s mostly empty midtown Manhattan office when she has an intense work day planned, and joked that she never thought she would enjoy going to an office as much as she does now.

Positive Vibes and Being the Difference

Yacker is most energized about her work when her clients commend her skillset, style and work ethic when it comes to servicing their needs.  

“My clients often remark that they see me as a true counselor — a person that they know will give them not only insightful legal advice and the answer under the law, but also an answer that will work for their businesses,” she says. “My clients know that I am not a scrivener, and that I don’t stop at ‘no you can’t’ when they have a difficult issue — I’m here to solve their problems, to be creative, and to use the resources of my firm to find the best possible solution to any problem they have and to get the deal done.”

Yacker primarily attributes her professional integrity and intense work ethic to her grandfather, whose first job after arriving in America after surviving the Holocaust was that of a janitor who made 65 cents an hour. Through incredibly hard work, her grandfather eventually built a successful business. Both of her grandfathers were incredibly hard workers but family came first to them. To Yacker, every day that she puts in a hard day at work is a testament to her grandparents and an attempt to honor their memory.

Learning Along the Way

Yacker gained valuable insight while ascending to become one of the firm’s youngest capital partners.

She recommends that young lawyers work with and learn from as many different lawyers as possible. 

“You learn different ways of thinking, different ways of networking, different analytical abilities, and different techniques for maintaining relationships and running a practice,” she observes. “I think that’s been critical to my success.”

Yacker also says that she has always worked hardest for the people who were fully invested in her.

“Seek out mentors who are looking to invest in you personally and professionally,” says Yacker. “And take those relationships as seriously as possible. And then, give back to younger associates in the same regard.”

And most importantly, she encourages young lawyers to take ownership of their careers — not to wait for an opportunity to be handed to them, but rather to take the initiative in building a successful practice and to think proactively and deliberately about their goals. 

Networking and Outreach

Yacker stays connected with her clients and colleagues — even in pandemic times. Whether it be a virtual group wine tasting, hosting socially-distanced cocktails and meals on her terrace, or virtual tea with clients in London, Yacker tries her best to proactively stay in touch with her clients both professionally and personally.

She has found it particularly fulfilling to work on pro bono matters,  providing legal counsel through the Small Business Legal Relief Alliance to small businesses in New York that are struggling during the global pandemic. 

Yacker also sits on the steering committee and national mentoring panel of the Katten Women’s Leadership Forum, which supports the growth of Katten’s women attorneys with professional development events, networking and practical advice. 

She is also one of the founding members of Katten’s Women in Finance Initiative, which seeks to build a strong community of women within the firm with a view toward driving cross-selling opportunities and driving more business to this community.

She is an Angel Member of 100 Women in Finance, an organization dedicated to empowering women in the finance and alternative investment industries through meaningful connections, high-impact programming and initiatives that help build the pipeline of future leaders in the industry.

Also close to her heart is the new Parents Affinity Group at Katten—a virtual support group for attorneys and business professionals to connect with each other and discuss approaches to navigating work and family responsibilities. 

Crowing Achievement

As committed as she is to her professional success, she views her crowning achievement as the balance she has struck between being a successful lawyer and being a successful mother.

“My children know that mommy’s business means I have to be available to my clients almost all the time, so I work a lot. I think they respect me for how hard I work at my job, but they 100 percent know that they come first and they always will,” Yacker said. 

Yacker’s “work hard, play hard” attitude has always resonated with her sons Jackson and Ashton, ages 8 and 12 respectively. She revels daily in how resilient they are, how kind they are to each other, and how hard they work to do their best in school, even under these extraordinary circumstances. Yacker said she finds inspiration from her kids, who make her want to be the best at anything she is doing.

Her most cherished daily moment is the time when it’s just her and her boys — whether they are on the baseball field, cuddling in bed, or laughing together in hysterics on the couch. Those are the moments she is most grateful for.

By Aimee Hansen

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Being a Working Mother During COVID-19

Nicki Gilmour“What are you reading currently?” I was asked this week by someone who I was executive coaching. I laughed and said if I am lucky, I get to read magazine articles online late at night. Because, as many of you know, reading a whole book would be a pipe dream for any working mother during COVID-19, particularly a parent of small children in this stay-at-home, work-at-home, school-at-home era that will clearly last the rest of 2020 and probably into 2021. Small children need you in a way older children do not and therefore as much as we wish to ignore this fact, babies and anyone under eight or nine are the working parent’s career disabler this year.

It is hard to be everywhere at once. Can we truly have a professional career this year and school and care for our kids at home? Are men having to ask themselves the same question, or is it primarily women who are being adversely affected? That is the litmus test for equality. An important caveat is there are really great men who are stay-at-home dads all of the time and should get more recognition than they do, same as stay-at-home mothers. Both roles deserve a medal, but to also say that this not about what went before in an imperfect world, but about the impossible pressure points of the new reality of the dual roles of full-time employee and full-time parent at once.

The New York Times writes that COVID’s sociological effects may even have scarred a whole generation of women and the underlying conditions such as the motherhood penalty versus the fatherhood bonus and good old fashioned ongoing wage and promotional gaps, along with the continued implicit belief that men belong at work or as leaders whereas women are there by choice somehow, has no doubt created the perfect storm.

The double bind for women lies in too much work to get humanly done in one day. Then there is the other tricky side of the coin, which shows that women are getting furloughed or fired in bigger numbers, and not hired this year at the same rate (for example in STEM jobs and technology firms) in the first place, leaving them helpless to a “whoever works gets priority to be-left alone to work” paradigm. Default career of teacher then begins for so many women who just feel that they are damned if they do and damned if they don’t in this new decade of unplanned disruption.

But, for those who are dual career households with kids, some men in super liberal as well as conservative neighborhoods are still playing golf in the afternoons in couples where women are putting in double or triple shifts between their job and kids. This is not a political-party-led values divide for once, because the inequality of the division of labor and the mental load continues for republicans and democrats alike when it comes to working women and specifically working mothers. Women’s work has returned as the elephant in the room, turning back the clock to gender roles we thought we had ditched. Some advice columns implicitly suggest this is the way it is and to accept it, while others – which is the camp I am in – suggest this is a good time to rebalance it. Eve Rodsky, author of Fair Play: A Game-Changing Solution for When You Have Too Much to Do (and More Life to Live) and one of the leading thinkers on this topic, suggests the following tips in her Harper’s Bazaar article:

1. Make the Invisible Visible
2. Believe All Time Is Created Equal
3. Focus on Your Why
4. Make Time for Planning
5. Own Tasks From Start to Finish
6. Focus on Fairness, Not 50/50
7. Modeling Matters (Including Out of Office Responses)
8. Burn Guilt and Shame
9. Be a Cultural Warrior (Care About Care)

Sociologist C. Wright Mills famously said, “Private troubles. Public issues.” Any issue that has appeared on our radar this year or ever, when it comes to experiencing what seems like personal or interpersonal challenges, is debated as individual choice or character traits, when it is always systemic and societal. The Lean In book and movement is a great example of how it was interpreted as a choice to do so, and completely missed the social constructs piece altogether.

Of course, the one choice that you do have is to collude or not collude with the way it has been. However, if it was that simple, we would all start the revolution today at work and home.
Sexism, much like racism, is a personal behavioral choice, but it is the other person and actually the system (how it runs) that has to mostly change for complete change. Flawed systems are not just based on sexist or racist people.

But, in the interest of looking at what you can do today, start with you. The organizational psychologists amongst us would argue Lewinian theory that states behavior is a function of both your personality and the environment you are in. Understand what works for you and map out not the world, but your world to understand the levers of getting other people to do better. What are the norms in your house or office around how things get done and who does them?

Now for the big stuff: deconstructing all the elements that have led to most women having massive amounts of internalized misogyny. Developmental psychologists Kegan and Lahey, in their book Immunity to Change, explore “mental complexity” and the holding of very competing beliefs at the same time (easier said than done, as cognitive dissonance is real and worldview is strong and unshakeable by mere facts) to understand that your truth is just your subjective truth based on the incumbent ideas of what is what. Whether at work or at home, the genome starts somewhere. Check your constructs, what have you been told that has been molded into your core beliefs?

How is that working out for you? No one says you have to keep doing it this way.

Nicki is our Head Coach and organizational psychologist. She will be guest coaching (virtually) at Working Mother magazine’s annual Multicultural Women’s National Conference this year. If you want a free exploratory session with Nicki, book here.

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Transitioning into Life as a Working New Mother

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Guest contributed by Sydney Miller

Over the past decade, we have seen a significant increase in the number of working mothers.

Mothers are the primary money earners in 40% of households with children under 18 today, compared to 11% in 1960. Choosing to be a full-time working mother isn’t always an easy decision to make, but it’s often a necessary decision. With the cost of living on the rise, it’s important for families to plan for their best financial future. This is especially true for single mothers.

Recently, we’ve seen great strides made towards better maternity and paternity leaves globally. This allows more parents the ability to take the necessary time off postpartum. It’s crucial for new mothers to have time to bond with her newborn and recover. When this leave is over, it’s time for her to return to work. This transition can be very hard. She’ll need time to cope with the emotions of returning and getting her head back into the work mode.

Are you or someone you know a new mother who is planning to return to the office soon? If so, follow our tips for getting back into your comfort zone at work.

Talk to Your HR Department

When you have a confirmed date in mind for returning to work, ask to set up a meeting with your HR department. You’ll want to work out all the details and paperwork with them ahead of time. Ask them all your top of mind questions now so you’re prepared. They’ve most likely been through this before. Ask if your company allows for flexible hours or telecommuting. Also, ask them if they have a private room available to you for breastfeeding needs. They may also have benefits set up for new parents, so be sure to go over all the details with them.

Sit Down With Your Team

During your maternity leave, appoint a contact for yourself in your office. The two of you can remain in communication during your time off. They’ll be able to fill you in on any important news and projects that you’ll want to be aware of. Going back to work prepared shows your commitment to the job and your flexibility.

A week or two before you go back, arrange a meeting with this coworker and/or your supervisor. Grab a cup of coffee out or come into the office. At this meeting, you’ll want to sort out the details of your work when your back and what their expectations are for you. If there are any limitations to your return, make them aware of them at this meeting. For example, if there’s a day of the week you are unable to work or any physical limitations you may have.

Look and Feel Your Best

The best way you’ll be able to acclimate to your new life as a working mother is by being confident in yourself. It’s important for new mothers to take care of themselves. Even the simple idea of having time for a long shower goes out the window when a new baby arrives. Although, you must look and feel your best to be your best. This is true both at home and at work. Show your employer your commitment to your job by being the best version of you.

Do your professional clothes still fit you well? If not, shop for a few pieces that you’ll be able to make many outfits out of instead of spending more than you need to. If you’re breastfeeding, you’ll want to invest in a versatile nursing bra that works with your work outfits. You should feel comfortable in what you wear but also professional. Treat yourself to a new haircut or take a long bath the week before. You deserve to rest before your life becomes hectic again.

Plan and Organize

Organization will be helpful to you during this busy time. At the top of your to-do list, should be arranging for childcare. Pick a center or nanny that you trust. Do a practice run getting into the routine of taking your newborn to where they will cared for. Then head to your office. Time the whole process. This way you’ll know what to expect come the first day. You should also have a backup plan in case. If you’re stuck at work one night or your child is sick, who can pick them up? Find an emergency contact to fulfill this duty and be available if they cannot reach you.

Put everything down on a calendar. Whether it’s pickup schedules, working hours, or important events. You’ll want to be on the same page as your significant other. If you find there is overlap in schedules, this will be a great way to plan this out.

Find Your Support Team

You’re most likely aiming to be supermom, right? You want to spend as much time with baby as possible of course. But you also want to succeed at work all day, be a great friend/wife and then come home to cook and clean everything. However, this isn’t always realistic. There are so many hours in the day and you’re only one person. Take a deep breath. No mom or employee is perfect.

Find a support group that can help you through the difficult times. If there are other moms at your office that have small children, start a support group. They’ll be able to give you advice for acclimating back into work life because they’ve been there. These are the people who understand best what you’re going through. Set up playdates or much need girls nights.

Don’t be afraid to ask for help when you need it. Your family, friends, significant other, and supervisor will all be there for you. If you need a day off, ask for it. If you need a sitter to go to the store by yourself for once, ask for it. Never feel alone in this process, someone will be by your side to help.

Disclaimer: The opinions and views of guest contributors are not necessarily those of theglasshammer.com

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