Maria Sagan

Partner, McMillan LLP

Maria Sagan is a partner in McMillan LLP’s Toronto office and is a member of the firm’s Financial Services practice group. She advises major banks, private equity firms and domestic and international corporations in connection with debt financings, including secured lending, asset-based lending, acquisition finance, syndicated lending, derivative and structured transactions, securitizations, and debtor-in-possession (DIP) financing. She has considerable expertise leading teams on cross-border financing transactions. Maria works with clients in a range of industry sectors, including pharmaceuticals, manufacturing and technology. 

Maria has been recognized as a rising star in the areas of financial services regulatory and banking by the IFLR1000 Financial and Corporate Guide. She served a secondment with the derivatives legal group of a leading Canadian bank. Maria’s articles on finance topics have appeared in several publications, including the Banking and Finance Law Review. Maria is a member of the Board of Directors of the Association for Corporate Growth, Toronto Chapter, a global community for middle market, private equity and M&A business leaders, and is the co-chair of its Young Professionals Committee. Maria was profiled in The Secured Lender’s Women in Secured Finance – April 2022 issue. 

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

I received my best professional advice a few years ago from one of my mentors. They advised me that I should be thinking about my work not only in terms of generating a great work product, but also in terms of how my work today will impact my future career goals. This has shaped how I have approached my work since then, and has empowered me to become involved in transactions relevant to my future goals and in line with the practice that I am building. The key takeaway from this is that you are the driver of your own career, and need to make sure that each day you are taking the necessary steps, no matter how small, towards building the future career you want.

How do you define a good leader?

A good leader is someone who leads from behind. Good leaders encourage and inspire their team to choose and take the best path to success. They are available to answer questions and provide guidance, but also allow their team the freedom to find solutions. They are patient, humble and lead by example. People trust good leaders to make decisions and they feel comfortable turning to good leaders when issues arise. Good leaders celebrate successes and create supportive working environments.

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

I advise my mentees to gain as much experience as possible in their first years of practice, to take on a variety of work and to work with different lawyers. Doing these things will allow them to make the best choices for their careers later on. I also advise them to speak up for themselves, and let others know about their career goals. I have learned that by telling others, especially managers and senior leaders, what you would like to achieve, you open yourself up to discussions about your career goals. When opportunities arise, those who know about your goals will be inclined to recommend these opportunities to you. Lastly, I tell my mentees to be resilient and not to give up! Things will not always go your way, but it is important to maintain focus and keep moving forward.

How would you encourage young professionals to become more involved in their community or volunteer? How have these activities outside of work helped shape your professional life? 

I would encourage young professionals to find out about industry organizations relevant to their work and interests, and to join these organizations and start attending events. One of the lessons I have learned is that quality is more important than quantity – it often makes sense to focus your efforts on one or two organizations rather than several different ones. This approach also makes it easier to start and keep up involvement, since you will not be overwhelmed by the number of commitments. These types of experiences are rewarding both personally and professionally, and offer a good way to meet others, make connections, and become involved in the community. 

My experience volunteering with organizations outside of work has helped me grow my network and has offered a good balance between my professional life and work life. It has also provided me with opportunities that I would not have otherwise considered, or even known about.