Expert resume of Kimberly Summe
Chief Operating Officer at Sequoia Capital Global Equities
Kimberly Summe is the Chief Operating Officer at Sequoia Capital Global Equities; former General Counsel and Member of the Management Committee at Partner Fund Management LP; former General Counsel International Swaps and Derivatives Association, Inc.; former Managing Director Barclays Capital and a Lecturer at the Stanford Law School (USA)
Partner Fund Management, L.P. San Francisco, CA
General Counsel and Member of the Management Committee 03/2009-present
Responsible for legal, regulatory and operational aspects of multi-billion dollar investment advisory business.
Engaged in management of trading and operational compliance systems.
Established and co-chair (non-market) Risk Management Committee.
Lehman Brothers, Inc./Barclays Capital, Inc. New York, NY
Managing Director 01/2008-03/2009
Led re-engineering initiative relating to the legal structure of the firm’s $2 billion prime brokerage business.
Managed process of addressing client concerns relating to broker-dealer credit and related issues.
Developed new suite of contracts for use with global prime brokerage clients.
Harmonized prime brokerage contracts with OTC derivatives, repurchase transactions, futures and cross-margining and netting contracts.
Worked with global hedge fund credit department to address documentation deficiencies for certain counterparties.
Developed new process for integrating client services, legal and sales functions, as well as a new electronic storage system and related policies.
International Swaps and Derivatives Association, Inc. New York, NY
General Counsel 09/2001-12/2007
Assistant General Counsel 07/2000-09/2001
Responsible for the development of global, industry standard contracts and related trading practices for the $600+ trillion notional swaps and derivatives market. Managed industry’s legislative and regulatory action in 52 jurisdictions. Achieved significant results during explosive industry growth period in terms of increasing legal productivity and responding rapidly to new product development, global market events and legislative issues.
Managed staff of six direct reports and an additional six shared direct reports.
Supervised 81 law firms in 48 jurisdictions; fixed annual legal budget required aggressive negotiation of all fees.
Responsible for drafting and publication of 110 industry standard contracts in five years, as compared to a total of 56 industry standard contracts published in the 15 years spanning 1986 to 2000.
Increased legal productivity four-fold between 2000 and 2005 as compared to period between 1996 and 2000, without any increase in fixed annual legal budget between 2000 and 2005.
Responsible for development of consensus positions among global trading and legal community for existing products, new products, trading practices and settlement standards.
Legal and Regulatory
Developed the 2002 ISDA Master Agreement; the ISDA Master Agreement is used as the base contract in over 90% of trades in the OTC swaps and derivatives market.
Developed industry standard contracts and practices for a variety of product areas, including credit derivatives, commodity derivatives, equity derivatives, foreign exchange and interest rate swaps.
Responsible for aggressive push into the physically-settled commodities market, including European and North American gas and power markets, as well as the publication of new contracts for developing energy products such as coal, emissions, freight and weather.
Managed the submission of amicus briefs in litigation of interest to the global OTC swaps and derivatives industry.
Subject to various subpoenas and depositions relating to litigation involving an ISDA contract.
Responsible for assessing anti-trust, compliance and ethics legislation in multiple jurisdictions, including Sarbanes-Oxley and the Patriot Act in the U.S.; the Market Abuse Directive in the European Union; and similar legislative efforts in other jurisdictions.
Responsible for global regulatory and legislative issues in 52 jurisdictions. Used common, civil and Shari’a law skills to address a diverse range of regulatory and legislative issues in North America, Europe, Asia-Pacific, Latin America, Africa, the Gulf Region, the Caribbean, India, Pakistan, Russia, the People’s Republic of China, Japan, Australia and New Zealand.
Consulted by various legislatures and parliaments in Central and Eastern Europe, the former Soviet Union, Latin America and the Caribbean as it related to the development of model insolvency laws.
Managed global market response to closure of various exchanges on and after September 11, 2001, focusing on pricing of commodity and equity derivatives contracts.
Led industry discussions following Enron’s bankruptcy filings in the U.S. and other jurisdictions in December 2001 to assess settlement of various OTC derivatives contracts.
Led industry discussions to assess Argentina’s $81 billion bond default, the largest Sovereign default to date, in December 2001.
Coordinated trading solution for multiple products in the OTC derivatives and bond markets as a result of the June 11, 2004 closure of various exchanges due to the death of former U.S. President Reagan.
Led industry discussions after Parmalat’s bankruptcy filing, the largest European bankruptcy to date, in December 2004 as it related to settlement of credit derivative trades.
Led ISDA’s initiative to develop an industry solution to develop auctions for settlement of credit derivative transactions.
General corporate responsibilities included: employment law issues (including two incidents of alleged sexual harassment); immigration law issues for over a dozen nationalities; intellectual property issues, including copyright and trademark issues and related litigation matters; licensing agreements; real estate leases; privacy issues; and assorted vendor contracts and joint ventures.
Reported to the ISDA Board of Directors and senior management at leading financial institutions globally.
Pillsbury Madison & Sutro San Francisco, CA/New York, NY
Corporate Associate 1997-2000
Worked on a variety of mergers and acquisitions.
Sullivan & Cromwell New York, NY
Banking Associate 1996-1997
Assisted in development of Group of Twenty’s foreign exchange payment and settlement system, considering banking, bankruptcy, broker-dealer, securities collateral, tax and immigration laws.
Worked on a variety of securities transactions.
Deloitte & Touche Austin, TX
Led business re-engineering initiative on Medicare reimbursement process for Puerto Rico’s Department of Health and identified and realized savings of $6 million in four months.
Performed operational reviews, cost analyses and implemented business re-engineering plans for public sector clients, including six public hospitals, three urban school districts and several state agencies.
The University of Chicago Law School Chicago, IL
Juris Doctorate 1994-1996
The University of Chicago Law School Foundation Academic Scholarship
Cambridge University Cambridge, UK
Master of Arts in Law; Bachelor of Arts with Honours in Law 1992-1994
Moot Court Finalist; International Rotary Scholar
The London School of Economics London, UK
Master of Science in International Relations 1990-1991
Montague Burton Academic Scholarship
Oklahoma State University Stillwater, OK
Bachelor of Arts in History; French minor 1987-1990
Leadership/GPA Awards: Top Ten Senior; Outstanding Graduate, Arts and Sciences College
President, Student Government Association (first female)
Co-Chair of the American Bar Association’s Financial Products and Services Committee (2004-2008).
Member of the California and New York State Bar Associations.
Member of the Association of the Bar of the City of New York.
Board Member, Center for Traditional Music and Dance (2001 to present).
Board Member, Court Appointed Special Advocates (2007 to present).
Board of Governors Member, Opportunity International (2006 to present).
Published thirteen articles in various international legal journals.
Contributing author to Ending Government Bailouts As We Know Them (Hoover Institute Press) 2010.
Lecturer in Law, Stanford Law School (September 2009 to present).
Hoover Institute Working Group on Financial Reform (September 2009 to July 2010).
Vice-Chairman / Board Member of Court Appointed Special Advocates (2007 to present); Former volunteer in the Bronx Family Court, handling 40 foster care cases (October 1999-2007).
Board Member, Center for Traditional Music and Dance (2005 to present).
Board of Governors, Opportunity International (2006 to present).
Established non-profit, Paladin Connect, to match pro bono services of leading law firms with microfinance institutions.
Successfully represented two Liberian families petitioning for political asylum and handled other asylum related petitions.