Former Goldman Sachs Investment Banking Chairman and California State Treasurer Joins Nationally Recognized Firm
Manatt, Phelps & Phillips, LLP, announced that Kathleen L. Brown has joined the firm as a partner. She will be based in Manatt's Los Angeles office, spending significant time in the firm's New York and San Francisco offices.
Brown has over two decades of experience in the financial services industry. She was most recently chairman for Investment Banking in the Midwest Region, at Goldman Sachs, Inc., a global investment banking and securities firm. Brown will focus her practice on business counseling, government and regulatory affairs - particularly as they relate to the healthcare, energy and financial services industries.
"Kathleen has a distinctive and unique background," said William T. Quicksilver, Manatt's Chief Executive Officer and Managing Partner. "Her leadership for one of the world's largest financial services firms and the country's largest state gives her a deep understanding of business and government and the interplay of the two with the healthcare, energy and banking sectors - all areas where Manatt excels."
Brown has worked with healthcare institutions in California and the Midwest in an investment banking capacity and most recently in strategic advisory roles, with a particular focus on navigating through the challenges and opportunities of healthcare reform.
William Bernstein, Chair of Manatt's Healthcare Division, noted that Brown would immediately provide value to the firm's clients. "This is a transformative time for healthcare in the U.S., with wholesale changes from the structure of hospital systems to the service model itself. The complexity of reform requires an integrated, holistic approach to challenges, particularly in the area of healthcare finance. Kathleen brings a practical understanding of finance and the interplay of state and federal regulations, and the ability to craft strategic solutions. She joins and strengthens a Manatt healthcare team second to none on issues related to reform. We are thrilled to welcome Kathleen to the firm."
Brown has also worked extensively with municipal utilities in California, including work on their efforts to meet California's renewable energy standards. She has participated in over $5 billion of water and power bond financings.
"She is one of a kind," said George David Kieffer, Chair of Manatt's national Government and Regulatory Policy Division. "Her ability to bring practical solutions to real-world challenges is a perfect fit with our culture and strategic priorities."
At Goldman Sachs, from which she retired in June of this year, Brown served in senior leadership roles for over 12 years. Prior to her Midwest posting, Brown was managing director and head of the firm's Western Region Public Sector and Infrastructure Group. From 1995 to 2001, she served in senior positions with Bank of America, including as president of the Private Bank. As California State Treasurer from 1991 through 1995, Brown was responsible for managing a $25 billion bond portfolio and overseeing a $32 billion cash management fund. She served on the boards of CalPERS and CalSTRS, two of the largest pension funds in the nation. Brown was the Democratic nominee for California governor in 1994.
Brown said, "I've worked with Manatt lawyers in the financial services and government arenas during my career and have always been impressed with the firm's quality and innovation in legal and consulting services. And, beyond Manatt's capabilities in the banking, energy and healthcare sectors, I'm struck by their deep and long-standing commitment to pro bono work and public service. I look forward to collaborating with my new colleagues across the country."
Brown earned her bachelor's degree from Stanford University and her law degree from Fordham University Law School.
About Manatt, Phelps & Phillips, LLP
Manatt, Phelps & Phillips, LLP, is one of the nation's leading law firms, with offices strategically located in California (Los Angeles, Orange County, Palo Alto, San Francisco and Sacramento), New York (New York City and Albany) and Washington, D.C. The firm represents a sophisticated client base - including Fortune 500, middle-market and emerging companies - across a range of practice areas and industry sectors. For more information, visit www.manatt.com.