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Name And Title: Adam B. Frankel, senior managing director and general counsel Age: 39 Boutique Bank: Evercore Partners Inc. is a boutique investment bank that advises multinational corporations on financial transactions, mergers and acquisitions and restructuring, and manages private equity investments and a venture capital fund. It works with some of the largest companies in the world on a variety of critical transactions � for example, it advised First Data Corp. in its recent sale to Kohlberg Kravis Roberts & Co., a $27 billion deal. The company was founded in 1996 by Roger C. Altman and Austin M. Beutner, who serve as co-chief executive officers. Altman previously worked at Lehman Brothers and The Blackstone Group, and served as assistant secretary of the U.S. Treasury from 1977 to 1981 and as deputy secretary from 1993 to 1995. Beutner formerly ran The U.S. Russia Investment Fund, a $440 million private investment fund backed by the U.S. government. Evercore operates on the principle that a small and focused firm can offer objective advice to clients over the long term, without the potential for conflicts that larger banks might suffer. Frankel was hired to establish the company’s law department in July 2006, just a month before the bank went public. The company, with more than 250 employees, has offices in New York, Los Angeles, San Francisco, London, Mexico City and Monterrey, Mexico. Its sales for 2006 topped $216 million, and it experienced a one-year sales growth of more than 72%. “We’ve had a really great growth trajectory in terms of expanding business overseas and hiring,” Frankel said, adding that the growth coincides with a lot of additional work, since his tasks include overseeing new hires’ compensation arrangements. Route To Current Position: Frankel received his undergraduate degree in economics at Brown University in 1989 and his law degree at Stanford Law School in 1993. While at Stanford, he worked on the Stanford Law Review and the Stanford Law and Policy Review. He clerked U.S. District Judge Anna Diggs Taylor of Michigan’s Eastern District. Frankel started at New York-based Simpson Thacher & Bartlett in 1995 as a corporate transaction attorney, working on a variety of mergers and acquisitions (M&A) and securities transactions in the New York and London offices. “I wanted to try corporate work and private practice,” he said. While at Simpson Thacher, he worked closely with Ford Motor Co., which eventually invited him to come in-house. He worked there from 1999 to 2003, doing M&A joint ventures and, later in his career, handled regulatory and securitization work for Ford Motor Credit Co. Frankel then was hired to create the law department at Genesee & Wyoming Inc., a publicly traded railroad. The company was worth $500 million when he got there, and more than $1 billion when he left. “It was a great opportunity to be general counsel of a rapidly growing international company,” Frankel said. The job also provided a solid background for his later work launching the law department at Evercore. In addition to his day job, Frankel sits on the board of Picis Inc., a Wakefield, Mass., company that provides medical-record and management software to hospitals; a Genesee & Wyoming director had recommended him for the position. The company recently considered going public, but decided not to. “Being on the other side, as a director of the company, has been fascinating, and helped me develop my practice as a general counsel,” he said. Legal Team And Outside Firms: Frankel is the sole attorney in the legal department. Three compliance officers report to him, and he in turn reports to Altman and Beutner. Evercore still relies on a variety of outside firms for different activities, he said. Simpson Thacher helped advise the company during its move to go public. Frankel said that Evercore employs “a mix of top-tier firms” to help with M&A activity, matters related to being a public company and broker-dealer and investment-adviser issues. He declined to mention any of the other firms by name, however. With the company’s initial public offering (IPO) about to take off when Frankel arrived at Evercore, he had his work cut out for him from day one. “It takes a combination of making sure that the disclosure is bullet-proof and that we’ve also got all of the transaction-related documentation in place,” Frankel said of launching an IPO. “It was an interesting time,” he said. “Taking Evercore public will always be a career highlight for me.” At around the same time, Frankel found himself involved with a more unusual task. Evercore partner Jonathan A. Knee was publishing a memoir of his experiences at other investment banks. Because of the strict rules governing discussion of a company before it makes a public offering, Frankel had to vet the material to make sure it wouldn’t come across as gun jumping. “I had to read manuscript galleys of book proofs, various New York Times book reviews, and editorials,” Frankel said. Daily Duties: Frankel reviews potential compensation arrangements for new hires; prepares for disclosure of the quarterly report, making sure that it accurately describes results and expectations; and advises the board on corporate governance issues, among other responsibilities. According to Frankel, the key to successfully establishing an in-house law department is to understand one’s clients. “The basic thing is just try to embed yourself into the business,” he said. “Really try to understand the issues that your client is tackling and think of different ways you can help � and they don’t just have to be legal. Think like your client thinks, so you can understand what their challenges are, then draw upon your experience.” Personal: The New York native lives in Greenwich, Conn., with his wife, Stephanie, and their children. “I have two daughters, 4 and 7, and I spend a lot of my time with my family,” he said. Frankel enjoys tennis and reading. Last Book And Movie: Frankel likes to read two books at a time and just finished State of Denial, by Bob Woodward, and The Last Tycoons: The Secret History of Lazard Fr�res & Co., by William D. Cohan. His last movie was Nancy Drew, which he viewed with his daughters.

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