Evolution of Agile Lawyering In-House Counsel as a Strategic Asset

Paul Petta, General Counsel for Global Businesses, Mastercard, USA

In-house counsel faces a new reality and challenge. The world and business have gone from analog to digital. Innovation, speed, digital technology and the internet have transformed how to manage and derive value for organizations – including the role of in-house counsel. In this dynamic landscape, the Mastercard legal department has adopted the strategies and techniques of Agile Management to add strategic value to the organization. Traditionally, in-house lawyers have focused on how to avoid or minimize risk. However, in this digital age, lawyers have more information than ever before about how businesses operate and what risks and opportunities exist. For businesses, it is time to rethink and create new and expanded roles for in-house counsel. The quest is to capitalize on the strategic and business knowledge that counsel offers for a competitive advantage. Mastercard’s legal department has employed this strategy with success and can share some of the lessons learned in adopting Agile Lawyering for other companies.

Paul G. Petta is Chief Franchise Officer at Mastercard. In this capacity, Mr. Petta has responsibility for the full suite of global franchise functions for Mastercard. He and his team enable new and existing business at scale through licensing, registration, brand standards and exploring new ways to leverage our brands, platforms and network and have full accountability for supporting healthy business growth by preventing, detecting, and remediating undue risk. Prior to assuming this role, Mr. Petta served as Executive Vice President, General Counsel, Global Businesses. He was responsible for leading the Global Businesses Legal Team consisting of 80+ lawyers and legal professionals located around the globe. The team was tasked with providing integrated world-wide legal support to Mastercard’s full suite of businesses, mergers & acquisitions, public and private partnerships, intellectual property matters, technology operations, franchise operations and all products and services, including: Fintech & Digital Products, Core Consumer & Commercial Payments, Loyalty Solutions, Advertising, Marketing, Communications, Operations and Technology, Enterprise Security Solutions, Processing, the Advisors Data Services & Consulting Business and the Mastercard Labs innovation incubator. Throughout his tenure, Mr. Petta has also served as Group Executive, Senior Associate General Counsel, Group Head, Global Markets Managing Counsel and Vice President, Managing Global Key, U.S. Regional, Key and National Accounts Counsel. Before joining Mastercard, he was an associate in the Mergers & Acquisitions Department at Simpson Thacher & Bartlett, an international law firm located in New York City, where he represented clients in connection with public and private company mergers, stock purchases, asset purchases, spin-offs, venture capital investments, joint ventures, and public and private securities offerings. Mr. Petta graduated, cum laude, from The College of the Holy Cross and received a Juris Doctorate, magna cum laude, from the University of Pennsylvania Law School. He was elected to the University of Pennsylvania Law Review, where he served as editor, and to the Order of the Coif at Penn. Mr. Petta is a member of the Bar in New York and Connecticut. He is also an active member of the New York State Bar Association, the American Bar Association and the American Corporate Counsel Association.

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.