Goodwin Procter's M&A practice already has three co-chairs. So why does the firm need a global chair of M&A?

Partner and firm vice chairman Stuart Cable, who was named to newly created position Monday, said it sends a message about the firm's commitment to the practice and to its clients. And according to Goodwin chair Rob Insolia, the new position underscores the firm's focus on growing the scope and geographic reach of its M&A and corporate governance work.

"It's typically a title you find at an investment bank," said Cable, a 40-year veteran of the Boston-founded firm. He said he'll use his four decades and over 300 deals worth of experience to be both a player and a coach for Goodwin moving forward.

"I still have a fully functioning practice," he said. "But [firm managing partner Mark Bettencourt] thinks at this stage in my career it's a good role for me. I can help the next generation fulfill their potential."

Cable, based in Boston, said he will be focusing his efforts on the three primary areas that Goodwin considers its strengths in the M&A space: technology, life sciences and real estate.

He has extensive experience in all three areas, including advising on the $5 billion sale of PAREXEL to Pamplona Capital Management, representing the Sprint Transaction Committee in its pending $59 billion merger with T-Mobile and working with Lennar in its $9.3 billion merger with CalAtlantic.

"With his depth of experience at the intersection of capital and innovation, Stuart is the ideal choice for this new global role," Insolia said in a statement. "We are thrilled that Stuart will serve as Goodwin's first global M&A chair."

Cable, when asked why the title was necessary, pointed partly to the signal it sends.

"I may not always be part of the day-to-day deal team," he said. "But I think the title will denote a certain degree of breadth that the client can view favorably. It shows that Goodwin cares enough about the client to put their most senior person on the deal."

The firm's M&A practice ranked second in total number of deals announced through the first three quarters of 2019, with 369, according to Refinitiv, and $5.9 billion in total deal value.

Cable seemed confident that the deal-making will continue into the new year and into 2020 and wasn't too concerned about the 2020 election having an effect.

"As long as interest rates remain low and equity valuations remain high, I don't think politics really plays that much of a role," he said.

|

Read More:

Deal Watch: Warren Goes After PE, Apple Buys Modems, International Snacks Make Moves

Goodwin Creates New Client Development Role, Hiring From Allen & Overy