Dear Clients and Friends,

Since our firm’s inception nearly 30 years ago, we have faced a number of economic calamities. The 1991 recession, the 2000 dot-com bubble, 9/11, and the Great Recession. Given the events of the past few months, the COVID-19 pandemic may likely have the largest impact of all.

As with prior shocks, Stout is relentlessly committed to serving our clients in all circumstances. We have the tools and experience across all corners of the market so that our professionals can deliver sound guidance amid growing uncertainty. Our efforts are evident through several advisory articles on business interruption claims, impairment testing, lessons from 2008, and more. These analyses are just a small sampling of our knowledge of the pandemic’s potential financial impact. No matter your location worldwide, we can help your organization navigate these fluid moments.

We have expanded our global footprint in recent years, and we were pleased to announce the launching of our new London location in January. With London, we welcomed many investment banking veterans with extensive market familiarity in the United Kingdom, mainland Europe, and beyond. We recently spoke with several of them about many topics, including investment opportunities in the U.K., the outlook for transaction activity, Brexit, and COVID-19.

As new talent broadens our firm’s expertise, long-tenured employees have also driven our success. Stout Managing Directors Christina Carroll and Michele Riley and Director Nadine Pizarro share their thoughts on being female leaders in the financial services industry. They discuss their careers, demographic changes in the sector, and improvements that could allow for more equity in the playing field.

Also providing a fresh perspective is Stout Managing Director Fotis Konstantinidis on the future of artificial intelligence. Stout Managing Director Jeff Mordaunt talks about his track record as a transaction disputes expert. In addition, we analyze trends in trade secrets litigation, which summarizes our updated comprehensive report for 2020. Furthermore, we feature multiple articles on timely topics from our Complex Securities, Financial Reporting, Valuation Disputes, Trust & Estate, and Management Consulting teams, among others.

In this issue of The Journal, we want to ensure that we provide the most relevant insights on important issues. At Stout, all hands are on deck to deliver for our clients, and I hope that our analyses and commentaries can offer some comfort in these difficult times.

Craige Stout