Most pyramid schemes don’t lead to any good. But here’s one creative use of a financial pyramid with a happy ending. This year the legal department at insurance conglomerate ACE Limited put together a novel program that leveraged contributions from in-house lawyers into a $200,000 donation for three public interest groups. According to ACE general counsel Robert Cusumano, the ACE Rule of Law Fund is the first privately funded corporate legal foundation.
The idea originated with Cusumano, who joined ACE three years ago after 25 years as a litigator at Simpson, Thacher & Bartlett. He was looking for a way to bring together his in-house lawyers and outside counsel to make a “tangible difference” in their legal communities.
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