(SAN FRANCISCO, Sept. 1, 2009)—Reed Smith LLP, one of the world’s 15 largest law firms, announced today that Molly J. Baier, former in-house counsel at Wells Fargo Bank, has joined the firm’s more than 200-attorney Financial Industry Group (FIG). Baier joins Reed Smith in San Francisco, where, since 2000, she has served as a key member of Well Fargo’s Commercial Loan Workout Group.
The addition is a natural fit for Reed Smith, which has represented banks for more than 130 years, and today advises 28 of the world’s 30 leading financial institutions in the United States, the EU, the Middle East and Asia. Baier’s experience in real estate loan workouts will support the current high demand for legal services in this area.
“As a senior counsel from a long-time client, Molly is a familiar face and trusted colleague, who adds immeasurable insider experience to our national and international financial services capabilities,” said senior Bay Area FIG partner Jack Nelson.
At Wells Fargo, Baier’s work focused on the restructuring of commercial and real estate loans, including loan documentation, workout strategies, pre-bankruptcy planning, and providing guidance through the bankruptcy process. She also handled insolvency issues with respect to letters of credit, deposits, merchant cards, equity investments, commercial mortgage-backed securities, vendor contracts, foreign exchange contracts, swaps and other structured products.
“These are very challenging times for financial institutions,” Baier says, “and some of the biggest challenges are in the area of workouts. The level of complexity is much greater than in previous recessions. When a customer with multiple products and relationships falls on hard times, it’s critical to understand how all the parts work together so that a global solution can be developed.”
Baier is also an international financial industry strategist, fluent in German and Russian. Her extensive work in Germany, including at the Westdeutsche Landesbank (WestLB) in Düsseldorf, and at Schön & Pflüger in Hamburg, will add value and support to Reed Smith’s platform in Munich and the European Union.
Additionally, Baier has written and lectured extensively on doing business in the former Soviet Union, and has organized seminars for Russian bankers on doing business in the United States. Prior to joining Wells Fargo, she spent two years in Kiev, Ukraine, as a legal advisor and project manager at Dames & Moore, and as a long-term advisor for the USAID Commercial Law and Bankruptcy Reform Project tasked with strengthening the Ukrainian legal system.
Between her stints in Germany and Ukraine, Baier worked in California for a number of years in private practice, handling business bankruptcy, real estate finance and commercial litigation matters, first at Severson & Werson in San Francisco, and then at Lempres & Wulfsberg in Oakland.
As a seven-year member of and advisor to the State Bar of California’s Insolvency Committee, Baier led the Committee’s effort to draft legislation that would enable renewal of personal property judgment liens. This effort culminated in the passage of State Assembly Bill 121, which is currently on its way to the governor’s desk for signature.
A champion of diversity in the legal profession, Baier served for two years on the Wells Fargo Legal Group’s first Diversity Council, and four years on the Employment Committee of the San Francisco’s Human Rights Commission. She is also a member of the Institute for International Education and World Affairs Council.
About Reed Smith
Reed Smith is a global relationship law firm with nearly 1,600 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises. Its lawyers provide litigation services in multi-jurisdictional matters and other high-stakes disputes; deliver regulatory counsel; and execute the full range of strategic domestic and cross-border transactions. Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, advertising, technology and media, shipping, energy trade and commodities, real estate, manufacturing, and education. For more information, visit reedsmith.com.
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