Page 99 - NYLJ Professional Excellence 2021

INNOVATION AWARDS

Fellowships. We’ve also extended
our Caregiver Relief benefit, which
offered three months of 80% work
at 100% pay for team members who
couldn’t rely on outside care because
of heightened health risks in their
families. There is a clear correlation
between self-care and high performance,
and we’re proud to support our teams
through these programs and continue
to build a best place to work culture at
Orrick. We believe these changes will
make a difference—and we’re always
looking at what else we can do to inno-
vate in this area. Stephen Fraidin and Greg Patti

What, if any, obstacles stood in the PARTNERS AT CADWALADER, WICKERSHAM & TAFT
way of your innovations, and how
did you overcome them? It can
be difficult to support a large team Q&A What are some of your securities exchanges and regulators—to
with changing needs during a chal- proudest achievements ensure that the implications of changes to
lenging time. In designing these pro- from the past year? During the last traditional structures were understood and
grams, our focus is on listening to our year, despite unprecedented obstacles, any follow-on issues from those changes
teams to understand how we can help the entire Cadwalader team worked were identified and addressed. 2020 was
them be successful at Orrick, in their seamlessly to help a number of forward- absolutely “The Year of the SPAC,” and we
family lives and within their com- thinking clients achieve their business think the future is bright for bold organiza-
munities. We know that is ultimately objectives. Whether the matter involved tions committed to conceiving and lead-
the key to staying and thriving in a Pershing Square’s largest SPAC ever (at $4 ing innovative, challenging transaction
highly demanding service profession billion), or the Thoma Bravo largest first structures to accomplish client objectives.
like ours. SPAC without warrants, or the beginning
I am extremely fortunate to work with of the development of a new type of blank What is the best advice for younger
a leadership team that is both incredibly check acquisition company (a SPARC), as attorneys looking to advance their own
supportive and encouraging of innova- well as a variety of other ground-breaking innovative ideas or visions? Younger
tive ideas on how to manage, support SPAC, private equity and corporate control attorneys should understand that even
and develop talent. matters, there was one common element: if they are part of a large institution, such
the Cadwalader culture. As we advised on as a law firm, corporation, or academic
What is the best advice for younger important work on behalf of our clients, we institution, they are also independent
attorneys looking to advance their received incredible support from lawyers professionals. Innovative ideas in law
own innovative ideas or visions? in various practice groups who contrib- arise based on a foundation of knowing
Don’t be afraid to share your innovative uted in innumerable ways as we success- and understanding what constitutes the
ideas! fully helped consummate important, mar- law—constitutions, statutes, cases, rules,
Young attorneys bring a wonderful ket-leading transactions for our clients. articles and speeches, as well as practice
new perspective and set of experiences and precedents. It is often tempting for
to law firms, and we can greatly benefit What, if any, obstacles stood in the young lawyers to focus merely on the task
from your input. If you’re not sure where way of your innovation, and how did at hand and to pay more attention to prec-
to start, share your ideas with your men- you overcome them? We knew that we edents and less attention to these other
tor or team leaders so they can help were challenging conventional thinking and factors. But it is both more satisfying for
you figure out how to move your vision breaking new ground for our clients. Doing the professional, and more valuable for
forward. so required a comprehensive understanding his or her institution or client, to provide
of SPAC and other transactional structures advice that results from a thorough knowl-
and a high degree of coordination with oth- edge and understanding of these other
ALMExperts: www.almexperts.com er participants in SPAC transactions—finan- factors in ways that can impact or change
cial consultants, auditors, underwriters, market practice and precedent itself.

Photos: Cadwalader | October 2021 97