Washington, D.C., April 9, 2009—Patton Boggs LLP has snared one of Wall Street’s top financial services lawyers, strengthening the firm’s ability to counsel businesses faced with an array of new government regulations.
Thomas A. Russo joins the firm as senior counsel in its New York City office where he will blend his vast knowledge of market structures with his strategic litigation experience to help clients address the numerous regulatory changes that are expected from executive branch agencies and Congress.
Before joining the firm, Mr. Russo was vice chairman of Lehman Brothers Inc. and chief legal officer of Lehman Brothers Holdings.
Mr. Russo brings a unique blend of business and legal acumen to the firm, said Thomas Hale Boggs Jr., who has known Mr. Russo for more than three decades.
“Tom Russo has one foot in the legal world and another on Wall Street,” Mr. Boggs said. “That experience combined with his extensive tenure in Washington will prove pivotal to clients trying to sort out the multitude of new regulations that are coming. We are delighted to have someone with such deep knowledge of both worlds join the firm.”
Routinely labeled by National Law Journal as one of the “100 Most Influential Lawyers in America,” Mr. Russo has extensive experience in both the private sector and government.
Prior to joining Lehman Brothers in January 1993, Mr. Russo was a partner and member of the management committee at the Wall Street firm of Cadwalader, Wickersham & Taft where he specialized in securities and commodities enforcement as well as regulatory advice covering the areas of broker-dealer transactions, hedge funds and derivative trading.
Mr. Russo also provided counsel at the Commodity Futures Trading Commission where he served as deputy general counsel and then as the first director of the agency’s Division of Trading and Markets.
Fresh out of Cornell University, where Mr. Russo earned both his law degree and masters in business administration in1969, Mr. Russo worked at the Securities and Exchange Commission as an attorney in the Division of Trading and Markets.
“Patton Boggs is ideally suited for my legal background, government expertise and experience in the financial markets,” Mr. Russo said. “This gives me the opportunity to provide pragmatic counsel to clients regarding the financial regulatory transformation that is taking place at rapid speed in Washington.”
A frequent lecturer on financial market issues, Mr. Russo has repeatedly testified before Congress on the market conditions and written over 75 articles and books about the commodities, securities and banking fields.
Mr. Russo co-authored a book on the federal securities laws entitled, Regulation of Brokers, Dealers and Securities Markets. Mr. Russo also wrote a two-volume treatise on federal commodities laws entitled the Regulation of the Commodities Futures and Options Markets.
Mr. Russo holds board positions with numerous nonprofit groups including the executive committees of the March of Dimes; the Institute for Financial Markets; and the Institute of International Education (IIE), which administers the Fulbright Scholarship Program. He’s a co-founder of the IIE’s Scholar Rescue Fund. And he serves on the United States Council for International Business.
Until December 2008, Mr. Russo was a member of the Board of Governors of the Financial Industry Regulatory Authority (FINRA). He is a member of the Cornell University Council; The Economic Club of New York; the Federal Reserve Bank of New York’s International Advisory Committee; and the Committee on Capital Markets Regulation. He is also a member of the Fellows of the Phi Beta Kappa Society.
Mr. Russo frequently lectures on financial market issues and is an adjunct professor at Columbia University’s Graduate School of Business. Mr. Russo is an inaugural inductee into the Futures Industry Association Hall of Fame. And he has received leadership awards in 2005 and 2006 from the Securities Industry Association, Bond Market Association and the Chicago Board of Trade.
Mr. Russo is a Phi Beta Kappa graduate of Fordham University. He and his wife, Marcy, live in New York City with their 13-year-old son. They have twin 19-year-old daughters in their freshman year at Amherst College and the University of Pennsylvania.