Since 1999, Florence Davis has been at the helm of one of the largest private foundations in the United States. As President of The Starr Foundation and a member of its Board of Directors, Ms. Davis has overseen the Foundation's successful grants to organizations and institutions across the globe, in areas ranging from medicine, healthcare and human needs, to education, public policy, culture and the environment. Founded in 1955 by insurance entrepreneur Cornelius Vander Starr, The Starr Foundation today boasts assets of approximately US$ 3.5 billion.
After graduating New York University School of Law, Ms. Davis began her legal career in 1979 as an associate in the New York office of Sullivan & Cromwell LLP. After S&C, in 1986 she joined Morgan Stanley & Co., Incorporated, serving in many capacities including as a Principal and the Director of Worldwide Regulatory Affairs. In 1995, Ms. Davis left Morgan Stanley to serve four years as Vice President and General Counsel of American International Group, Inc. (“AIG”), a company which also owes its founding to Cornelius Vander Starr. Her work at AIG made Ms. Davis an ideal choice to lead The Starr Foundation, where she continues to thrive today.
As fulfilling as her career has proven to her, Ms. Davis wouldn’t have guessed when she entered law school where her juris doctor was to lead her. Ms. Davis attended NYU as a recipient of the prestigious Root-Tilden Scholarship, which recognizes students for their dedication to public service, among other factors. As a student of law in the mid-1970s, “I was going to help save the world,” she explained.
No doubt, Ms. Davis’ work as President of The Starr Foundation is helping to do just that, but her professional interests changed course as she delved deep into the law school curriculum. “I became fascinated with a course in Corporations, and I decided I wanted to work on Wall Street,” she said. That she did, beginning with a seven-year tenure in S&C’s litigation department, where “I was assigned to fascinating cases,” Ms. Davis reminisces.
While Ms. Davis is happy with the path she has pursued after her law firm experience, she remains grateful for her time at S&C. “It was great working with very smart people all the time,” she noted.
Moreover, Ms. Davis cites the skills she learned as an associate at S&C as playing a key role in helping her meet the challenges of running a major foundation. Noting that “foundations and not-for-profit organizations are under close scrutiny by the government today,” Ms. Davis credits her ability “to read and assimilate a vast amount of information very quickly” and “to know the right way to do things” as essential for helping The Starr Foundation achieve continued success.
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“Go to Sullivan & Cromwell first.” This was the advice Erious Johnson received as a law student who was very eager to embark on a career as a trial attorney. Mr. Johnson chose to follow this advice, and he doesn't regret it for a second. Since leaving S&C in 2004, Mr. Johnson has served on the front lines as an Assistant Corporation Counsel (ACC) for New York City's Law Department, defending the city and its many agencies against high-profile tort claims. He is no stranger to the Law Department, having first worked there as a paralegal in the new Early Settlement unit. When he left the Law Department in 1999 to pursue his law degree at Howard University, Mr. Johnson was confident that he would return to the Law Department as an attorney after graduation. Return he did, but not until after completing two solid years as a litigation associate at S&C.
During his tenure at the Firm, Mr. Johnson delved deep into motion practice, document review, and other key pre-trial matters. He recalls the extraordinary resources that were made available to him as an S&C associate, describing them as a luxury he often misses today. “When you needed something, it was there,” he recounted. “At S&C, whatever you needed to be the best attorney you can be, you got it.”
When Mr. Johnson left S&C and returned to the Law Department, he was ready for the courtroom. “I wanted to do trials,” he explained. In his new role as a trial attorney for a major municipality, Mr. Johnson pointed out that his S&C background earns him a certain “legitimacy” when dealing with opposing counsel and others. “Once people learn that I was an attorney at S&C, it changes how they react to me,” he explained.
Mr. Johnson added that he believes S&C is an excellent starting point for people who, like him, are not necessarily aiming for a career at a private law firm. “I was skeptical about coming to a firm, but S&C taught me how to be a lawyer.”
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"I number among the outstanding days of my life the day I received a job offer from S&C." These are the words of former S&C litigation associate Judge Judith Kaye, who went on to become both the first woman to serve on the New York Court of Appeals and the first woman to be appointed its Chief Judge.
Starting a legal career at first seemed like an uphill battle. "For a woman NYU Law School graduate back in 1962, job searches were no fun," Judge Kaye recalled. "Rejections were rampant—it was hard even to get an interview." Indeed, when she joined S&C as an associate as the only woman in the litigation department, the department lunches would begin, "Gentlemen and Judy."
After a couple of decades practicing commercial litigation law in New York City, Judge Kaye explained that, like many litigators, she yearned to be on the other side of the bench. In 1983, Judge Kaye realized her goal when Governor Cuomo appointed her to the Court of Appeals, New York 's highest court. In 1993, Governor Cuomo appointed her as Chief Judge and Governor Spitzer reappointed her to this position in 2007.
Judge Kaye is pleased to have had many "great opportunities" to bring the State court system into the 21 st century. Most notably, she points to greater diversity, an improved jury system, and the creation of so-called “problem-solving” courts, including drug courts, mental health courts, and domestic violence courts. "As with every other life endeavor, the great challenge—and opportunity—is accommodating to change," she said. "I feel we have accomplished many of our shorter-term goals. It pleases me that we can now offer the business community an excellent forum in our first-rate commercial division and that we have reduced the agony for jurors." Judge Kaye adds that she has become increasingly interested in helping the tens of thousands of needy children and families in the New York courts. "All of us definitely could do a lot more to help them. They would have better futures—so would all the rest of us."
Judge Kaye explained that she wishes the public knew more about the courts and their role, noting that judges depend on the public's trust and confidence. "I thought I would most enjoy the judicial/decisional part of my job. I never imagined that so much of my time would be given over to administration of the court system, or that I would enjoy it so much," she noted.
As Chief Judge, every day is a new challenge. "My life is at a steady high. At a law firm there were lots of highs and lows," Judge Kaye explained. She added that she is thankful for her days at S&C, and that her experience at the Firm taught her the importance of "sparing no effort to put together a perfect product" and speaking up when she had something to say. "To this day, my time at S&C is a great credential, and a very fond memory," Judge Kaye recalled. "No one had a better start in the legal profession."
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Just a few years ago, Hans Keeling was an associate in S&C's Los Angeles office working on complicated capital markets and M&A transactions. Today, Mr. Keeling enjoys facing a new set of challenges as the Founder and Managing Director of Nexus Surf, a surf/adventure travel company that offers tourists the chance to experience top-quality surfing combined with the best of Brazilian nightlife and culture.
The first challenge Mr. Keeling experienced was making a shift in thinking from attorney to entrepreneur. "Whereas previously I was entrusted with ensuring that just the legal aspects of a transaction where properly taken care of, all of a sudden I was wearing numerous hats and taking care of all steps along the transaction cycle," he explained. "It took a while to untrain myself to focus so much on the details (as any good attorney must do) and instead step back and see the larger picture in terms of how any particular event or transaction would affect the larger landscape of my business from a strategic standpoint."
Mr. Keeling found that another main challenge in setting up shop in Brazil was adapting to life in a foreign culture and a new language. "Fortunately, I picked up the language pretty quickly, but small talk conversations and doing business are two very different things," he noted. Aside from the language and cultural differences, Brazil has a very different business environment, "unfortunately one that is much more bureaucratic and less efficient than what we're used to back in the U.S.," he said. This environment, he added, just drives him to be more creative and come up with new ways to streamline his efforts.
Mr. Keeling noted that the opportunities he has enjoyed in Brazil would not have come as easily in the United States, where he would have to compete against established giants such as major hotel chains and well-established specialty travel providers. "Real estate and development costs in Brazil are significantly lower than in the States, and there is a much more wide-open marketplace for just about everything in terms of business services—something I really saw an upside in as well," he explained. "They say a rising tide lifts all boats, and certainly Brazil as a country is really on the right track economically in addition to having a strong draw for foreign visitors and investors."
Today, Mr. Keeling continues managing his business with a careful eye toward navigating the fluctuations in the travel and leisure market as well as in the exchange rate. On a positive note, he pointed out that the surf travel industry has boomed and has been trending more upscale. Indeed, a recent Forbes Traveler article (which features Nexus Surf) noted this trend and cited his city of Florianopolis as one of the world's top 10 "luxury" surf destinations.
Although Mr. Keeling enjoys being his own boss, he pointed out that "running a business is no piece of cake." Fondly recalling the camaraderie of the S&C work environment, as well as firm outings and holiday parties, he added that "in reality, there is definitely something to be said for the structure, security and benefits of working for a big company. When you run your own business, the buck stops with you, on all things big and small, which means it's often much more demanding than being an employee."
Mr. Keeling's goal when starting his business was modest: he simply wanted to find a way to support himself in the place where he wanted to live. "Taking what I learned at S&C about hard work, professionalism and always doing your best, fortunately the hard work has paid off and we've managed to pass some important milestones in a fairly short time."
Indeed, Mr. Keeling has formed a business that creates waves, both literally and figuratively. In addition to the Forbes Traveler recognition, Nexus Surf was described as one of the "World's Top 10 Best Surf Resorts" by the surf industry press, an impressive feat given that the company hadn't yet reached its 1 1/2 year anniversary. "We were also taken on by WaveHunters.com, the largest surf travel broker in the United States, as their exclusive Brazil tour operator," he added. On a more personal level, Mr. Keeling takes pride in having succeeded in crafting a career around doing the things he enjoys.
Recalling his days at S&C, Mr. Keeling remembers working "with a really special group of people, many of whom I continue to be in touch with on a regular basis today. Regular events such as the barbecues, lawyer league basketball games and summer associate outings were highlights, but even just the general office camaraderie and respect among the professionals was special. I think the small office atmosphere of the Los Angeles office (only about 20 lawyers, plus a fantastic support staff) really contributed to the close-knit feeling in the office," he explained.
"Working at S&C affords one the opportunity to do cutting edge work in a fast-paced environment, and to work alongside some of the best and brightest minds in the business (any business for that matter)," Mr. Keeling said. "While it may not have been the exact training ground the experts might recommend for someone looking to get into my current line of business, I wouldn't trade it for the world."
Mr. Keeling notes the "tremendous S&C work ethic of always striving to get the job done right, on time and in a professional and ethical manner," which still serves as a motivator for him in his current role. "This kind of goes without saying at S&C, that exceptional results are what you should expect of yourself on a daily basis, and I definitely took that with me when I left the firm."
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Just five years ago, Rebecca Li was finishing her impressive six-year tenure as an associate at S&C, where she handled complex securities matters for the New York and Hong Kong offices. Major companies such as China Mobile, China Telecom and China Unicom have Ms. Li, among others, to thank for helping to take them public. Today, Ms. Li is the Principal of Media Vision China, LLC (“MVC”), a company she co-founded in 2003 with a single focus: “to facilitate the entry into the China media sector by U.S. media companies, investors and creative talents.” Given her long-standing interest in the Chinese and American consumer markets coupled with her vast experience in cross-border transaction”s in the media, telecom, and technology sectors, it’s no wonder Ms. Li enjoys what she does. Just this year, MVC has advised on the funding and strategic partnerships of several new media companies, the sale of a domestic media business and the financing of two films. MVC is currently working on the foreign investment in a major state-owned media conglomerate, among other transactions. Between leaving S&C and founding MVC, Ms. Li worked for J.P. Morgan in Hong Kong, focusing on investment banking in China. She also worked briefly as counsel for O’Melveny & Myers LLP’s China and Media/Entertainment practices after founding MVC, then returned to dedicate all her time to MVC.
Ms. Li believes she is “definitely more confident” in business thanks to the very challenging nature of her work at S&C. “There’s the high standard and discipline that you get used to when working at S&C,” she said. After leaving S&C, Ms. Li forged her own path through the business world with a continued commitment to maintaining this high standard. “I mention my six ‘busy’ years at S&C to many of my U.S. clients, and I can instantaneously feel a higher degree of trust and confidence in me from them, she noted.
Fortunately for MVC, the Chinese consumer market has experienced explosive growth and “the media industry in China is very active now,” Ms. Li reported. She noted, however, that her company still faces challenges. “The highly sensitive nature of the Chinese regulatory environment makes it very restrictive of foreign investment,” she explained. “However, the regulatory complexity and diverse business practice have also made clients turn to us for advice,” she pointed out. Another major challenge is the ability to focus on deals that are likely to be seen through to closing and teams that can execute the deals. “Often, people have business plans that are well thought out, but only a small percentage of these plans can lead to successful transactions,” she said.
Asked whether her work as an associate helped prepare her for the leading role at MVC, Ms. Li replied that “there’s definitely some connection to what Im doing now.” In advising Chinese companies and dealing with several foreign strategic investors, Ms. Li noted that her experience at S&C “helps me pick winners.”
Ms. Li credits the network she developed in China as having “helped tremendously” in founding MVC, and noted that “some are S&C friends.” Ms. Li pointed out that “because of the level and quality of work at S&C, you meet so many bright minds. You really bond with some of the people you end up spending a lot of time with.”
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