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In 2015, David Kanarek’s CLO at American Express asked for volunteers to craft a vision and mission statement for the company’s legal department. Kanarek, who is now SVP and managing counsel for the company, still isn’t sure why he raised his hand to join the working group. It’s always been his way.
A decade later, Kanarek and that vision and mission statement the working group created remain a constant. That’s how you make an impact on an organization with the size, scale, and reputation of American Express.
Today, Kanarek tackles securities regulation, corporate governance, and capital markets at the financial heavyweight. Over his tenure with the company, he has advised on more than fifty quarterly earnings reports, two dozen annual meetings and investor days, and over $150 billion in capital market issuances.
“David is a stellar lawyer with impeccable skill in handling American Express’s most groundbreaking matters,” says Francesca Odell, a partner at Cleary Gottlieb Steen & Hamilton. “We have had the honor of working with David for many years on American Express transactional and securities law engagements and greatly appreciate his guidance, support and outstanding leadership.”
The Opportunity to Grow
Kanarek is fascinated by the area of law he practices. The attorney jokes that he has to regularly check himself in meetings.
“I don’t think everyone is always as fascinated by securities law history as I am. Sometimes, I need to remind myself that I don’t need to take a strategy discussion all the way back to the adoption of the Securities Act of 1933,” the SVP says, laughing.
Education has been a theme in Kanarek’s life. His interest in securities law began when a speaker from the SEC visited his college in his sophomore year. He earned his MBA from Rutgers and JD at Columbia. That passion for knowledge has fueled his rise at AmEx.
The SVP says part of the reason he’s remained at American Express is because the education never stops. Whether it’s exposure to new and challenging legal work, leadership development opportunities, or a new and interesting puzzle to solve at a company with wide-ranging and complicated matters, AmEx provides endless learning opportunities.
“What initially attracted me here was the sophistication of the securities practice,” Kanarek explains. “We operate in a complex, global regulatory environment and support a variety of activities to finance and grow the business.”
But over time, Kanarek realized that his enthusiasm was just as much, if not more, about the people he worked with and the company’s storied brand as the work itself. When he talked about his work to friends and neighbors, they never wanted to talk about securities law. Instead, they’d share anecdotes about AmEx assisted them when they needed it the most, such as helping them with issues on a trip abroad.
“David’s knowledge of the securities laws is extraordinary, as is his deep understanding of American Express as an institution,” says Rob Moyle, a partner at Orrick, Herrington & Sutcliffe. “He leads and inspires with his expertise and commitment to excellence, playing a critical role in the success of the capital markets transactions that we work on together.”
Kanarek’s internal practice has evolved. His expertise includes public company reporting, corporate governance matters, SEC and NYSE compliance, and treasury transactions. The SVP is on AmEx’s disclosure committee, corporate sustainability steering committee, and AXP PAC board. He is an advisor to the American Express Foundation—the company’s philanthropic arm—as well as the Center for Community Development.
“Be curious and don’t be afraid of hard work. You never know what opportunities will open the next door.”
David Kanarek
Recently, the SVP assumed responsibility for the company’s corporate secretarial function, once again expanding his governance practice. It was an interesting moment of leadership development for the lawyer.
“Taking on that responsibility was a leadership challenge because I couldn’t lawyer it all by myself,” Kanarek explains. “I needed to lead by listening to my team and providing opportunities and growth for them.”
In preparation, Kanarek had been taking advantage of all of the leadership resources the company had to offer, including participating in an accelerated leadership development program. It was a chance to put knowledge to work in the real world.
Be Curious
The SVP is also intent on cultivating the next generation of securities attorneys. He is a faculty member of the Practicing Law Institute (PLI)’s SEC Institute, where he has conducted workshops on Form 10-K, Form 8-K, and MD&A reporting essentials. He’s also regularly appeared on podcasts and speaking engagements on SEC and ESG reporting for the PLI, the Conference Board, and the Society for Corporate Governance.
“I love teaching,” Kanarek says. “Every time I prepare something, I’m always taken back to the fundamentals of my own practice. I feel like I come out of each session having learned or at least reminded myself of something important.”
Kanarek’s colleagues at AmEx have benefited from his teaching, albeit indirectly. The SVP says he regularly fields highly technical, specific questions, many of which are top of mind from his own teaching.
When speaking with younger lawyers, Kanarek frequently recommends they find a chance to say yes to something new. “That might be working on pro bono opportunities, or that might be saying yes when your CLO asks for volunteers to write a mission statement,” the lawyer says. “Be curious and don’t be afraid of hard work. You never know what opportunities will open the next door.”
