Josh Zelig

Partner, Cahill Gordon & Reindel LLP

40 Under 40 Category: Legal Services

Josh Zelig is a partner at Cahill Gordon & Reindel LLP. Josh’s practice is principally focused on representing leading commercial and investment banks in leveraged finance and asset-based lending transactions, including bank financings and leveraged buyouts, recapitalizations, bridge lending and loan commitments and debt and equity offerings.  Josh has experience practicing in a variety of industries including healthcare, financial services, media and communications, retail and food services, energy, and technology.  

Josh is recommended as a leading finance lawyer by the IFLR1000 and The Legal 500, and as Up and Coming by Chambers USA for Banking & Finance in the New York region.

Josh earned his J.D. from Brooklyn Law School in 2006 and holds a Bachelor of Arts from the University of Pennsylvania. Josh lives in Westchester, NY with his wife and two children and is an active member of the community, serving on the board of directors of the local Little League.

What advice do you normally give to the junior talent you mentor?

”Know what you don’t know” I always tell junior associates. It’s advice I live by as well. Individuals who have advanced to this level of banking, finance and law are all highly credentialed – everyone got “A’s” in school. It’s no longer possible simply to rely on raw intellect to advance and much of what we do was not taught in law school. This is a lesson I learned firsthand. Having no finance background prior to coming to Cahill, it seemed as if I knew nothing about the job. Everyone around me seemed to speak a different language. So, it’s vital for a junior associate to understand that learning is their most important task and to ask questions.  The continued quest for knowledge and experience is what drives any good associate or partner.  Particularly in our practice, clients seek out the legal teams that are deeply informed about the market – what are the latest developments in terms and conditions for a particular product. That means not only knowing your own documents front to back, but also seeking out information on deals market-wide and then tracking those constantly evolving terms. It means discerning why the terms of one transaction were different than another similar deal – recognizing the risk factors, weighing the market’s interest.  Junior associates must soak up as much of that as possible, a learning process that should continue until retirement. 

What is the best professional advice you have been given and how have you implemented it? 

One of the most important lessons an early mentor taught me was the importance of professionalism – the need to stay composed and focused at all times.  It’s not just enough to know the substance, a successful lawyer also needs to act in a way that instills confidence in clients.  In our practice, given the large financial interests and high stakes involved, there are times when negotiations can get heated. I always strive to stay above the fray, not let my emotions get the better of me and represent my client in a composed manner. I have found that clients genuinely respect and appreciate an attorney that can keep cool under pressure. 

What is your definition of success?

I ask myself one question - was my client happy with the outcome? Success as an attorney is ultimately defined by the answer to that one question.  And there is only one way to achieve it: putting in the work. There’s simply no shortcut in our practice. Rather, it’s vital to know the various products and current deal terms inside and out. To get the best terms for my clients, I’ve got to stay informed and work to understand the marketplace. A successful transaction requires taking that knowledge and applying it to meet the needs and concerns of the client.  

How do you define a good leader?

Above all, a leader is adaptable. Not every situation is the same and, in order to lead, you have to be flexible and approach each task with a fresh approach. There are certain times when it’s important to step in and be hands-on and others where a more relaxed approach will accomplish the task. A leader has to recognize the appropriate action to take and then trust the team members to execute.  This is particularly important in the legal profession where we work collaboratively on teams for each transaction. In order to ensure a successful transaction, a good leader must set appropriate goals and be willing to adjust on the fly to get the job done.