In this Spotlight, Keith Kearney, Linda Chatman Thomsen, Nora M. Jordan and Eugene Gregor share entertaining stories and memorable reflections on landmark transactions past, their first days at Davis Polk and life as a senior counsel now. While their stories show how technology has changed the day-to-day practice of law, they also demonstrate that the core experiences and values that make Davis Polk what it is remain true.
Keith Kearney
Keith joined the firm as an associate in 1977. He became a partner in the Capital Markets practice in 1985 and has been a senior counsel since 2010.
What is your most memorable transaction?
My most memorable transaction at Davis Polk was the initial public offering of Apple Computer in late 1980, representing Morgan Stanley, Hambrecht & Quist and the other underwriters. It was a high-profile transaction, and I was also excited because, for about the first time, I would have a younger associate assigned to help me with logistics, including picking up dinner checks, handling tips and renting (and driving) the rental car.
The younger associate assigned to me was John Ettinger, later managing partner of the firm (1999-2011). On the plane out to San Francisco for the first meeting, John regretfully informed me that he had left his wallet at home and that, in any event, his driver’s license had expired. I knew right away that John was destined for greatness.
The organizational meeting included the Apple team (led by Steve Jobs) and both Bill Hambrecht and George Quist, who were already legendary in Silicon Valley. Apple was represented by Larry Sonsini and the Wilson Sonsini firm. We went effective on Friday, December 12, with gross proceeds of $110 million – a huge IPO at the time – and closed on Monday, December 22. Just before the closing, we had a deal celebration at a restaurant in San Francisco. The evening concluded with Morgan Stanley managing director Jack Wadsworth dancing a soft-shoe on top of the bar to music provided by the harmonica-playing Steve Jobs – 25 years old and, at $22 a share, holding about $165 million worth of Apple stock.
What has occupied your time since you became a senior counsel?
This question had me stumped, so I asked a friend to follow me around for a bit and help me figure out what to say. After three days, he said “I can’t help you – I don’t know what you’re doing either.” So instead, I’ll give three little bits of retirement advice:
- Spend as much time with your kids and grandkids as you can,
- Naps are fine, and
- When you get involved with community organizations, never, ever tell them you’re a retired lawyer unless you want to be told “Great!!! You can be secretary and keep the minutes.”
Linda Chatman Thomsen
Linda joined the firm as an associate in New York in 1979 and transferred to the Washington DC office the next year. From 1983 to 1985, she was an Assistant U.S. Attorney for the District of Maryland, after which she returned to the firm. In 1995, she moved to the Enforcement Division of the Securities and Exchange Commission and served as that division’s Director from 2005 to 2009. She returned to Davis Polk as a partner in the White Collar Defense & Investigations practice in 2009 and has been a senior counsel since 2019.
Do you have a particular memory from your first day at the firm?
I arrived at the firm in the fall of 1979. The offices were downtown at 1 Chase Plaza, which also housed Cravath and Milbank – we were warned NEVER talk business in the elevator. On my desk the day I arrived was a black rotary dial phone, a beige Dictaphone, and a very intimidating “face book” – essentially a book of photos of all the firm’s lawyers with biographies. The partners were included in the book in order of their admission to the partnership, and I remember turning many pages before I came to Lydia Kess, the first (and at the time, the only) female partner at Davis Polk. She had been admitted to the partnership in 1971 – one of the first women partners at any major New York firm. I felt intimidated, awed and inspired – feelings I often had throughout my career at the firm.
What has occupied your time since you became a senior counsel?
My husband and I have been very fortunate to be able to enjoy lots of travel. Not exactly adventure travel but very active travel. Last year we did a 10-week cross-country drive focusing on national parks, baseball, and lots of friends and family. We have now been to every continent, with more highlights than I can mention. Our hiking boots are wearing out, and our bucket list keeps growing.
Nora M. Jordan
Nora joined the firm as an associate in 1983. She became a partner in 1995 and headed the firm’s Investment Management practice for over 20 years until becoming a senior counsel in 2020. She is currently on the board of a large asset management company, is vice chair of the board of the American Skin Association, and is on the board of the Hotchkiss Library of Sharon (Connecticut).
What is your most memorable transaction?
As a young associate I was assigned to a deal for Church’s Fried Chicken with partner Jack McAtee, who had a reputation as a raconteur. What I did not know is that in addition to being a good storyteller (which indeed he was), he created good stories. On a trip to a board meeting in Atlanta we flagged a cab at the airport, and on the way to the hotel Jack asked the driver to name his favorite fried chicken place. The driver responded that it was KFC. Jack expressed outrage and told the driver to take us to a Church’s Fried Chicken, which Jack said clearly had the best chicken. (Jack had actually never been to one at that point.) When we arrived at Church’s, Jack told the driver that we would buy him dinner and also pay for his time. The driver looked a bit wary, but agreed. We went in, ate dinner together, talked about how great Church’s was and had a grand time. The Church’s board loved this story (of course as told by Jack with embellishments).
What has occupied your time since you became a senior counsel?
Since retiring I have joined two corporate boards and two nonprofit boards. The board work has caused me to learn a lot about, among other things, China, the hospitality business and investing, and the work has brought me to, among other places, Beijing and Singapore. The board work has been very engaging, and I love leaving meetings with others being responsible for all follow-up and drafting! I also have been traveling for pleasure (everywhere from New Orleans to Hong Kong), doing a lot of reading (I am in two book clubs), playing tennis, pickleball and paddle (depending on the season and weather), and spending as much time as possible with my children and grandchildren. I have been a guest lecturer a number of times at Duke Law School and also have spoken at other law schools. I highly recommend retirement when the time comes!
Eugene Gregor
Eugene joined the firm as a corporate associate in the New York office in 1987. He later transferred to the Tokyo office and spent approximately 15 years there and seven years in the Hong Kong office. He became a partner in 1996 and has been a senior counsel since 2017.
What is your most memorable transaction?
Over decades in the firm’s Tokyo and Hong Kong offices, I particularly enjoyed working on novel legal issues and clashing business and cultural expectations arising in connection with first-time global securities offerings from Asian markets. Securities offering procedures in local markets can involve practices which differ from expectations in global securities distributions. The lawyers on these deals need to tease out the problems and solve them in advance. I always found this exciting.
We also played an important role in setting standards designed to facilitate regular capital market access for issuers across Asia. Some of the large, first-time global offerings that I remember include Korea Development Bank, Korea Electric Power, CITIC, China National Petroleum, Sinopec, Bank of Ceylon and the Socialist Republic of Vietnam.
What has occupied your time since you became a senior counsel?
Since returning to Northern California in 2017 as a senior counsel, I have been expanding my range of activities to take better advantage of the favorable Bay Area climate and natural setting. At present I am prioritizing saltwater fishing, birding, reading, opera and symphony, Left Coast traveling, masters swimming, nonprofit board work, gardening and socializing with friends and extended family.