If 2021 were a song, The Rolling Stones' "You Can't Always Get What You Want" may best capture a year full of promise often unfulfilled as the pandemic's impact continued to reverberate.
After a year of unprecedented change, upheaval and uncertainty in 2020, we had all hoped 2021 would mean the end of lockdowns and the return to some semblance of normalcy. Instead, we faced another year of pandemic-related challenges. But while we didn't always get what we wanted, we certainly did try hard and maybe we even got what we needed — as Mick Jagger urged in that classic song.
Settled into the rhythm of doing business remotely, we were able to help our clients take advantage of extraordinary market conditions and navigate the continued effects of the pandemic they faced — from evolving COVID protocols and their impact on employees to unprecedented supply chain issues and worsening court backlogs. We were able to put action behind 2020's pledges to address critical social justice issues, in our firm and our community. And an increased focus on wellbeing became imperative for us as we all realized that keeping our attorneys and business professionals healthy — physically and mentally — enables the best service and performance for our clients. In short, 2021 brought more awareness, more wellness, more humanity and stronger client service.
Client-Centered, Superior Service Approach
Last year we were prepared to help our clients capitalize on what was by all accounts a dealmaking frenzy. The exceptionally hot deal market kept our transactional, finance, financial services, real estate and regulatory practices busier than ever before. We took a leading role with more than 60 other large law firms in issuing a joint statement that raised concerns about litigation aiming to regulate special purpose acquisition companies (SPACs) as "investment companies." And we added new talent to meet client needs, including stronger support for business development companies and regulated funds.
Activity in other areas roared back to life in 2021, necessitating the addition of more than 80 new lateral attorneys across our practice areas and the elevation of 16 new partners from within our ranks. You can expect to see new faces on calls and, hopefully, in person as we continue to grow our busy practices.
We have long taken pride in our firm's ability to work across practice areas to find holistic solutions for our clients. During the pandemic, we learned to tap into the depth and breadth of Katten's talent well even more quickly. This team approach proved effective for clients still struggling mid-pandemic and those in need of new approaches to old and new problems. The results came in the form of important client wins, from litigation successes for clients like Mylan and Windstream to powerful joint ventures on behalf of real estate funds like Blue Vista and initial public offerings for SPACs such as Thrive Acquisition Corporation.
We are continually fine-tuning ways to stay connected with our clients and to offer insight to business challenges they are facing. A new Capital Markets Compass newsletter is keeping clients up to date on developments with capital markets and corporate governance matters. Our Health Care and Cryptocurrency & Blockchain teams are among the first of our practices to embrace a new tool we're rolling out to more quickly share news and insights. And our core practices kept on top of legal developments and trends by hosting more than 80 programs for clients on topics of importance to them and producing authoritative whitepapers and new industry surveys in the private credit and SPAC sectors that offered market intelligence as well as analysis. In total, we shared more than 65 advisories, including the gold-standard year-end estate planning advisory produced by our Private Wealth team and a comprehensive annual review of litigation and enforcement trends predicted by our Financial Markets and Funds authorities.
Building a Culture of Belonging
In 2021, we deepened our commitment to diversity, equity and inclusion. Our country's racial justice issues are multifaceted and complex. There is no single solution nationally, locally or internally at Katten. We've had an opportunity to reflect on the calls for action in 2020 and are making progress through internal initiatives and pro bono work.
Our public service-oriented attorneys took on projects fighting anti-Asian hate, battled housing discrimination, and identified ways to implement needed police reforms to address abuses of power. Our pro bono work fundamentally improves the lives of others and we were especially proud that this commitment was recognized by partnering organizations, including by the American Bar Association as an "ABA Free Legal Answers" pro bono leader and by the Chicago Lawyers' Committee for Civil Rights as its 2021 Pro Bono Honoree. Our attorneys are representing Katten in the new Alliance for Asian American Justice. After a six-year legal battle, Katten secured a significant settlement for a Black realtor and two Nigerian college students who were denied housing in the Chicago area because of their skin color. And several regional offices joined together to conduct research as part of a multistate Police Accountability Project spearheaded by the Lawyers' Committee for Civil Rights Under Law.
When attacks on Asian Americans were becoming distressingly widespread, we held a firm-wide town hall to better understand the multilayered aspects of discrimination faced by Asian American Pacific Islander (AAPI) communities. We followed up with closed dialogue sessions aimed at supporting our professionals who identify as AAPI.
We are also addressing our own inequities. Firms industry-wide struggle to retain and advance women and other underrepresented attorneys. We are proud to have achieved Mansfield Certification Plus status, which recognizes that Katten has exceeded benchmarks for inclusion and reached at least 30 percent underrepresented attorney representation in a notable number of leadership roles. In partnership with Diversity Lab, the organization that founded the Mansfield Rule program, we also signed on to the revitalized OnRamp 200 effort to return 200 women to the legal profession by 2025. The Mansfield certification and being named by the Human Rights Campaign as being among the best places to work for LGBTQ Equality are measures of our recent progress, and we intend to do more.
Talent development and mentoring is a critical part of current and future success for our diverse attorneys, so we began piloting Kattalyst. This sponsorship program is focused on retaining and advancing underrepresented attorneys with high potential by offering training and coaching to help enhance their leadership and business development skills. Held over the course of a year, Kattalyst participants are matched with practice leaders, managing partners and even our Chair and CEO, all of whom take ownership of the development and success of the attorney they are paired with. The Women's Leadership Forum also wrapped up its successful six-part boot camp series, which provided actionable business development training and support for women attorneys in various stages of their careers.
We know actions speak louder than words, so as we tune in, we will continue to build on our successes to create a firm-wide culture of belonging.
Being Well Becomes an Imperative
Wellbeing, both physical and mental, is top of mind. The COVID-19 pandemic is the great disruptor, mixing unhealthy doses of change and uncertainty. This recipe for stress reached a boiling point and the burnout so many have felt is a real risk to our teams and our industry. It's critical that we work together to help one another reduce stress and foster a culture that values a good quality of life. As we see it, client service — the bedrock of our business — can only be at its best when the individuals delivering it are at their best.
Over the summer, we formally launched KattenFlex, our remote-to-hybrid work approach, which enables most attorneys and business professionals to choose when they need to be in the office to meet team and client demands, and when they are better served working remotely. We rely on our team leaders to make the call about when and where team members need to be to produce high-quality work. And the flexibility this allows has been a relief to our community, letting our people stay safe, productive and happy.
To reinforce the importance of wellbeing, Katten attorneys and staff were offered sessions focused on mindfulness and mental health awareness, and webinars were conducted on topics such as prioritizing self-care and ways to adopt a healthy lifestyle. Additionally, all employees were given a stipend to use toward self-care activities and items.
As a founding member of the Institute for Well-Being in Law, we are committed to developing an inclusive, flexible workplace with opportunities for personal and professional growth. This commitment is one reason for the high marks we received in Law360 Pulse's Lawyer Satisfaction Survey, in which Katten placed sixth on a list of 45 firms that keep their attorneys happy.
Looking Ahead
The days and months ahead are sure to throw us more surprises. One positive of the last two years is that we are readier than we've ever been to tackle the unexpected and face what's next.
So what will 2022's theme song be? Will it be another year, "Under Pressure?" Or will we remember it as "A Beautiful Day?"
Either way, we've got you covered.
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