Post by jannikki on Sept 30, 2006 19:11:00 GMT -4
Top Partner to Leave Pillsbury for SEC Job
Wednesday September 27, 2:55 am ET
Petra Pasternak, The Recorder
Senior corporate and securities partner Michael Halloran is leaving Pillsbury Winthrop Shaw Pittman to become deputy chief of staff and counselor to Securities and Exchange Commission Chairman Christopher Cox next month.
After having been at Pillsbury on and off for more than 30 years, the 65-year-old Halloran will relocate to Washington, D.C., and start with the SEC on Oct. 16.
Known for his contribution in the drafting and adoption of the Private Securities Litigation Reform Act of 1995 -- on which he worked with Cox -- Halloran has been both a rainmaker and a trusted adviser at Pillsbury.
"He's truly a legendary lawyer," Chairwoman Mary Cranston said.
Partners turned to him not only for advice in securities law, Cranston said, but also in internal management and policy matters, such as the development of Pillsbury University, a firmwide, computer-aided attorney development program.
"He was a pioneer for the utilization of the securities laws in venture financing and private equity financing. In addition, he was a completely well-rounded corporate securities lawyer, always seen both inside and outside the firm as a true scholar," she said.
Halloran was the lead securities lawyer for most of Pillsbury's largest clients, Cranston added, including Bank of America -- where he was general counsel from 1990 through 1998 -- Chevron and AT&T.
Cranston declined to disclose the value of Halloran's book of business, but said he is one of the firm's "more successful rainmakers."
Halloran said he is taking a "substantial pay cut" in his government post.
"The SEC is widely known as one of the best government agencies," he said. "They're smart and they work hard."
A legal staff of about five lawyers will report to him, helping to address a gamut of matters, from Sarbanes-Oxley and hedge fund regulations to shareholder access. He also will work closely with Cox to assist the chairman in management of the commission.
Halloran said he hadn't sought the job, but rather that Cox called him. "He talked me into it," Halloran said with a laugh. The Pillsbury partner's ties to Cox date back about 15 years, he said, and include working together on the establishment of rules regarding so-called stock drop suits, in which class actions are brought on a drop in stock price.
Stock option backdating enforcement actions are among the biggest undertakings currently on the SEC's plate. Though he has done backdating-related work at Pillsbury, Halloran said he isn't at liberty to discuss it.
"Obviously I can't work on anything on which I've worked here at the firm, I'm recused from that -- nor will I. But in terms of looking forward, yes, I would imagine that I would be involved in policy issues related to that matter," he said.
Morrison & Foerster corporate securities partner William Sherman, who practiced with Halloran at Pillsbury from 1972 to 1987 and has since worked with him across the table on deals, said Halloran is a true expert in his field.
"Mike's probably forgotten more securities law than I know, and I know a lot," Sherman said.
While it reflects well on the firm for one of its key lawyers to join such a high-profile government agency, Sherman said it's not likely to bring it more business. "If he were a young partner, yes," he said.
But because Halloran will be at least 67 years old by the time he leaves the commission -- and revolving door rules restrict lawyers from cashing in on their knowledge and ties while in the SEC -- extra work for the firm is not likely, Sherman added.
Halloran's 31-year career with Pillsbury has included the founding of its Washington, D.C., office, which he led until 1983. He is also past president of the board of directors at Boalt Hall School of Law at UC Berkeley, where he received his LL.B. in 1965.
biz.yahoo.com/law/060927/337b136f7e55095259f7889195a6964c.html?.v=1
Wednesday September 27, 2:55 am ET
Petra Pasternak, The Recorder
Senior corporate and securities partner Michael Halloran is leaving Pillsbury Winthrop Shaw Pittman to become deputy chief of staff and counselor to Securities and Exchange Commission Chairman Christopher Cox next month.
After having been at Pillsbury on and off for more than 30 years, the 65-year-old Halloran will relocate to Washington, D.C., and start with the SEC on Oct. 16.
Known for his contribution in the drafting and adoption of the Private Securities Litigation Reform Act of 1995 -- on which he worked with Cox -- Halloran has been both a rainmaker and a trusted adviser at Pillsbury.
"He's truly a legendary lawyer," Chairwoman Mary Cranston said.
Partners turned to him not only for advice in securities law, Cranston said, but also in internal management and policy matters, such as the development of Pillsbury University, a firmwide, computer-aided attorney development program.
"He was a pioneer for the utilization of the securities laws in venture financing and private equity financing. In addition, he was a completely well-rounded corporate securities lawyer, always seen both inside and outside the firm as a true scholar," she said.
Halloran was the lead securities lawyer for most of Pillsbury's largest clients, Cranston added, including Bank of America -- where he was general counsel from 1990 through 1998 -- Chevron and AT&T.
Cranston declined to disclose the value of Halloran's book of business, but said he is one of the firm's "more successful rainmakers."
Halloran said he is taking a "substantial pay cut" in his government post.
"The SEC is widely known as one of the best government agencies," he said. "They're smart and they work hard."
A legal staff of about five lawyers will report to him, helping to address a gamut of matters, from Sarbanes-Oxley and hedge fund regulations to shareholder access. He also will work closely with Cox to assist the chairman in management of the commission.
Halloran said he hadn't sought the job, but rather that Cox called him. "He talked me into it," Halloran said with a laugh. The Pillsbury partner's ties to Cox date back about 15 years, he said, and include working together on the establishment of rules regarding so-called stock drop suits, in which class actions are brought on a drop in stock price.
Stock option backdating enforcement actions are among the biggest undertakings currently on the SEC's plate. Though he has done backdating-related work at Pillsbury, Halloran said he isn't at liberty to discuss it.
"Obviously I can't work on anything on which I've worked here at the firm, I'm recused from that -- nor will I. But in terms of looking forward, yes, I would imagine that I would be involved in policy issues related to that matter," he said.
Morrison & Foerster corporate securities partner William Sherman, who practiced with Halloran at Pillsbury from 1972 to 1987 and has since worked with him across the table on deals, said Halloran is a true expert in his field.
"Mike's probably forgotten more securities law than I know, and I know a lot," Sherman said.
While it reflects well on the firm for one of its key lawyers to join such a high-profile government agency, Sherman said it's not likely to bring it more business. "If he were a young partner, yes," he said.
But because Halloran will be at least 67 years old by the time he leaves the commission -- and revolving door rules restrict lawyers from cashing in on their knowledge and ties while in the SEC -- extra work for the firm is not likely, Sherman added.
Halloran's 31-year career with Pillsbury has included the founding of its Washington, D.C., office, which he led until 1983. He is also past president of the board of directors at Boalt Hall School of Law at UC Berkeley, where he received his LL.B. in 1965.
biz.yahoo.com/law/060927/337b136f7e55095259f7889195a6964c.html?.v=1