Sullivan & Cromwell’s H. Rodgin Cohen: On The Lawyer’s Role with Banks

In a lunchtime speech at the inaugural Big Law Business Summit, Sullivan & Cromwell’s senior chairperson H. Rodgin Cohen described the banking industry as a challenged industry that faces challenging times, and he laid out a vision for the role and responsibilities of the lawyer representing banks in this environment.

Cohen began by acknowledging that capital and liquidity levels have never been stronger at many banks. Nonetheless, he suggested the industry faces a raft of crippling challenges to its continued health, including low-interest rates and a harsh regulatory environment. Cohen described cybersecurity as the greatest threat, and called for the creation of a new ...