Stephen M. Cutler ’85, Partner, Simpson Thacher & Bartlett LLP
(From left) Michael S. Solender ’89, Roberta Romano ’80, Stephen M. Cutler ’85, Dean Heather Gerken, and Robert J. Giuffra, Jr. ’87
At the presentation of the award, which took place in 2022 due to disruptions caused by the COVID-19 pandemic, Robert J. Giuffra, Jr. ’87, Co-Chair of Sullivan & Cromwell LLP and Chairman of the Center’s Board of Advisors, noted that Steve Cutler is “one of the most distinguished and respected graduates of Yale Law School during the 1980s,” having led, with great equanimity, in both the public and private sectors during times of extraordinary turbulence. As Director of Enforcement of the U.S. Securities and Exchange Commission from 2001 to 2005, “Steve was at the center of some of the biggest corporate frauds in American history – Enron, WorldCom, Adelphia, Tyco, and HealthSouth. Steve was widely praised for how tough, but fair he was. Steady, methodical, and not a grandstander. He was respected by all.” After becoming General Counsel of J.P. Morgan Chase, “Steve had to navigate the 2008 financial crisis. Our financial system was at risk; some big banks did not survive. J.P. Morgan not only survived but thrived. Throughout the financial crisis, Steve was unflappable. We are delighted to honor you with the Simeon Baldwin award.”
Michael S. Solender ’89, General Counsel, Ernst & Young, added:
“I first met Steve when I was a partner in private practice and he was Deputy Director of Enforcement at the SEC. It was quickly apparent to me that, unlike…many members of our profession, Steve was not full of himself. He was not arrogant. He was thoughtful, he listened. Don’t get me wrong. Steve was not lacking in confidence. And, he was clearly tremendously able. But, unusually, Steve didn’t feel the need to prove that to the whole room.” After Steve joined J.P. Morgan Chase as General Counsel, “[w]e were now 40-something GCs of large financial institutions and quickly developed a kinship as we worked through the issues confronting those firms in the early part of this century…Of course, unbeknownst to us, we were on a raft heading towards the abyss. When the financial crisis hit, Steve and I found ourselves navigating some of the most challenging moments of our professional careers…Steve was a steady presence in a swirling storm. While all around us were losing their heads, he never overreacted, at least that I saw. His reason and common sense never abandoned him. Steve was the same thoughtful, wise, and perceptive lawyer that I had always known…For those seeking to learn about crisis management, Steve is a master and should be their first stop… I can think of no one in our profession more deserving of the Simeon Baldwin Award than my friend Steve.”