In a discussion with Reuters’ Practical Law, Co-Head of Capital Markets Bob Downes offered an overview of the biggest challenges facing securities lawyers, and discussed recent market impacts on his practice and the importance of mentoring and teaching the next generation.
Bob noted ways in which increased expectations around technological change can challenge securities lawyers: “[t]he rapid pace of transactions, facilitated by technology, leads to the need for quick decision-making.” More specifically, he highlighted the potential impact of AI going forward. “While it is natural to say that predictive AI is a change on the horizon, I think it will serve as an additional resource and not a substitute for the capital markets process.” In terms of market developments, “the increased burden of SEC rulemaking has had a significant impact on my securities practice,” he said.
When asked about career advice for younger lawyers, Bob highlighted the importance of meeting and interacting with the people you work next to, including clients, bankers and attorneys. Mentoring is another important element for him, as he discussed S&C’s formal and informal mentorship opportunities. “[Our] mentoring programs not only allow us to provide input to attorneys on career paths within the firm but also give attorneys a touchpoint, which hopefully they feel can be used candidly to discuss wellness matters and broader life opportunities,” he said.
Read: “Checking In with Robert W. Downes, Sullivan & Cromwell LLP”