What's Happening?
Greenberg Traurig has announced the addition of Molly Unterseher as a shareholder in its tax-exempt organizations and philanthropy practice, operating out of Philadelphia and New York. Unterseher brings extensive experience in advising high-net-worth individuals, private foundations, and public charities on the formation, governance, and operation of philanthropic vehicles. Her expertise includes navigating complex rules related to private foundations, such as grantmaking, endowments, and program-related investments. Unterseher joins Greenberg Traurig from Nixon Peabody, enhancing the firm's capabilities in providing legal counsel to philanthropic entities.
Why It's Important?
The recruitment of Molly Unterseher signifies Greenberg Traurig's strategic focus on strengthening
its tax-exempt and philanthropy practice. Her expertise in advising wealthy clients and philanthropic organizations is crucial as these entities navigate increasingly complex regulatory environments. This move reflects the growing demand for specialized legal services in the philanthropy sector, where compliance with tax laws and effective governance are critical. By bolstering its team with a seasoned expert, Greenberg Traurig positions itself to better serve clients seeking to establish and manage philanthropic initiatives, thereby enhancing its competitive edge in the legal market.
What's Next?
With Unterseher's addition, Greenberg Traurig is likely to expand its client base among high-net-worth individuals and philanthropic organizations. The firm may also develop new service offerings tailored to the evolving needs of the philanthropy sector, such as advising on impact investing and sustainable philanthropy. As regulatory scrutiny on charitable organizations intensifies, Greenberg Traurig's enhanced capabilities could lead to increased involvement in shaping industry standards and best practices. The firm's growth in this area may also prompt other law firms to similarly invest in their philanthropy practices.
