It's no surprise that in September 2008, as the financial services industry faced its biggest crisis in decades, many of Wall Street's stalwarts turned to Sullivan & Cromwell's H. Rodgin Cohen. As one of the banking sector's leading M&A lawyers, Cohen had credibility with federal officials that proved to be invaluable as government-backed bailouts and quick regulatory approvals meant the difference between life and death for many financial institutions.
During a seven-month period in 2008, Cohen was involved in 17 banking M&A deals, many of which were shotgun combinations and hastily arranged rescue transactions. "We were right at the edge of the precipice, and if we had gone off, it is pretty difficult to contemplate what would have happened," Cohen recalls.
