There’s a group of people that I work with—the bank, because
most of the time I do represent the lender. The lenders I represent
typically are relationship lenders, so I may do a project today and
three months from now I may do a project for the same group of
people. So it is very team-oriented. I like that. I like working on a
Every deal these days seems to have problems. I like trying
to figure out creative solutions to get them done. I like to close
deals. I’m not one who likes to [pick] nits. I really do like to bring
people together to a closing. That’s fun. We pride ourselves on
trying to understand our client’s business. If you don’t understand
the business, you can’t figure out the solution. Some people view
transactional lawyers as filling in the blanks on the documents.
That couldn’t be further from the truth. You have to figure out how
to get to the solution.
Q: Of all the deals you’ve been involved in, does one stand out?
A: Back in 1999 and 2000, when Fleet National Bank acquired
Bank Boston. At that point, it became the seventh- or eighth-
largest bank in the U.S., but it needed to divest [about 300]
branches due to competitive reasons and regulatory requirements.
It may still be the largest branch divestiture in U.S. history. I was
in charge of the real estate portion of that divestiture. There
were two types of divestitures. One, on the real estate side, there
were owned real estate sites, so those sites had to be physically
prepared, title work done, and transferred. Then there were
a number of them that were leased, which meant we had to
negotiate with landlords and get landlord consents. It was all
done on a very tight time frame. That was a fun transaction: lots
of hours, lots of time involved, some creativity to move some
landlords who seemed to think there would be some hold-up value
in saying “no.”
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GAIL MCCANN ON HER APPROACH
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