Lifetime Achievement Award: Martha McGarry
Her work as a dealmaker, leader and mentor have greatly benefited the business and legal community, and her collaborative approach has greatly benefitted her law firm of nearly 40 years.
October 18, 2019 at 11:04 AM
5 minute read
At a firm long-known for its M&A prowess, Martha McGarry has been a leader in driving Skadden's reputation for high-end, complex dealmaking.
Her success is rooted in her calm, influential demeanor. This, along with her innate business intelligence, are among the reasons many of the world's leading corporations have long relied upon her to manage their most important deals.
In addition to her role as a client confidant and dealmaker, many in the legal community know Martha as an inspiration, and I count myself among those who are honored to call her a friend.
Anyone privileged to have worked with Martha has undoubtedly been struck by her leadership. This is among the qualities behind her success at Skadden—notably, she was the first female partner in the firm's renowned M&A practice.
Martha is a steely and unwavering advocate for her clients in negotiations. As witness to many of these negotiating sessions, I am impressed by Martha's ability to represent her client in the highest stakes M&A situations while maintaining a calm and even tone. Her combination of graciousness and resolve is a hallmark of her approach.
Martha also brings those traits to bear in advising boards of directors. She is an invaluable advisor to public company boards of directors in their most critical transactions, on activism defense matters and other governance issues. She shoots straight, gets to the point and provides boards with advice based on decades of practical experience and judgment.
One of Martha's finest qualities as a leading M&A attorney—near and dear to me as her long-time tax partner—is her attention to regulatory issues—tax, antitrust, CIFIUS and the like—that impact her client's transactions. She is the first one to encourage the regulatory experts' direct engagement with client C-Suite executives, rather than guarding the client relationship in a manner that limits that exposure. Martha is genuinely glad to share the spotlight, seeing the potential to enhance client representations by providing the best advice in the most efficient way.
Martha demonstrated an early talent for business development. Over the years, she has generated as clients numerous iconic brands, including The Coca-Cola Company, The Hershey Company, Caesar's Entertainment, Wal-Mart and The Clorox Company. In addition, she has regularly advised American Express, Lockheed Martin, Frontier Communications and Criteo on numerous transactions and other matters.
Through Martha's introductions, many of these clients have become regular clients of the firm, engaging Skadden in many different practice areas. As a result, Martha became an obvious choice to head Skadden's global business development committee and we've also been deeply fortunate to have her leadership on our governing body, the firm's policy committee.
Outside of Skadden, Martha continues to be recognized as a trusted business counselor and leader. To name just a handful, she was honored by Chambers USA in its first-ever Women in Law Awards as "Corporate/M&A Lawyer of the Year;" named a "Top Female Deal Maker" by another leading legal publication; invited to participate for years in the Fortune Most Powerful Women Summit; and selected for Harvard Law School's first-ever International Women's Day Installation, celebrating the contributions of women to the legal profession. The Harvard Law School recognition cited Martha as a leading practitioner who "sets an example for others and conducts herself with integrity and poise."
A media profile summed-up Martha's rise to prominence and leadership by stating: "McGarry was one of the few women to rise through the ranks of mergers and acquisitions practitioners during the rough-and-tumble, male-dominated world of corporate finance in the 1980s, aided by her facility with complex work, her discipline and her steady demeanor."
While Martha has always led by example, she is passionate in mentoring others and works hard to create opportunities for women. Along with a number of women CEOs, she is a founder and long-time board member of W.O.M.E.N. in America (WOMEN OPTIMIZING MENTORING, EDUCATION AND NETWORKING) which serves as a professional development and mentoring organization. As a trustee for the Committee on Economic Development, she has advocated for increasing the representation of women on corporate boards.
Martha is someone we can all look to and aspire to be. As noted with this well-deserved Lifetime Achievement recognition, her work as a dealmaker, leader and mentor have greatly benefited the business and legal community, and her collaborative approach has greatly benefitted her law firm of nearly 40 years.
Anyone who knows Martha, would surely say that her best accomplishments are yet to come—and I'm excited to see what's next.
David M. Rievman is a partner at Skadden, Arps, Slate, Meagher & Flom.
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