Katherine Terrell Frank has fond memories of growing up watching the TV courtroom drama Perry Mason with her grandfather. At an early age, she says, she was inspired by the show’s drama and glamour to become a lawyer.
“As a result, I imagined the life of a lawyer as theatrical and dramatic, with cases neatly resolved within an hour,” Frank said.
Even as an undergraduate at Yale, that early dream of becoming a litigator still lingered.
“I loved mysteries, I loved to read and I was a theater kid. Litigation seemed like a natural fit,” Frank said.
Even as a 1L at Columbia and a summer associate at Vinson & Elkins, she remained wedded to the belief that she was “destined to be the best trial lawyer the firm had ever seen.”
But it was while she was with V&E that summer that she discovered something different while working in their capital markets and M&A practice.
“It turns out I really enjoy transactional work,” Frank said.
She’s now a partner at V&E and in her 13th year at the firm and she recently agreed to spend some time answering a few questions from The Texas Lawbook.
The following interview has been edited for length and clarity.
The Lawbook: What has your journey to becoming a lawyer been like?
Frank: I like the team-building and collaborative aspect of it. One of the most rewarding parts of my job is forging strong, long-term relationships with clients, truly understanding their corporate goals and helping them grow. I view myself as a business partner dedicated to finding solutions and helping clients to prepare for change proactively.
Lawbook: Who in the space were your role models or idols?
Frank: Other than Perry Mason? I have been very lucky to work with two longtime mentors at Vinson & Elkins. Alan Bogdanow, recently retired, and Robert Kimball, have shown me what it means to be practical, ethical, perpetually willing to learn and dedicated to my clients. I have been honored to be partners with them and one day aspire to be as well-respected as they are.
Lawbook: What kinds of clients have you represented throughout your career, and who do you primarily represent now?
Frank: I am primarily a public company lawyer specializing in capital markets transactions, SEC compliance and governance and M&A. Having spent my whole career in Dallas, my client base reflects the diverse industries in the Dallas-Fort Worth area. I have represented clients in biotech, manufacturing, retail, transportation, airlines, financial services and the energy industry. My experience spans companies of all sizes, from smaller reporting or emerging growth companies in the IPO stage to Fortune 500 corporations.
Lawbook: What initially attracted you to join V&E, and what has enticed you to stay?
Frank: I’m a lifetime Vinson & Elkins attorney. I summered here for both my 1L and 2L years and have practiced here ever since. I attended law school in New York (Columbia class of 2012) but knew I wanted to return home to Texas. I graduated college during the 2008 and 2009 financial crisis, so stability and commitment to Dallas, along with sophisticated clients and attorneys, were among my top priorities.
With deep Dallas roots, Vinson & Elkins is involved in some of the most prestigious transactions both inside and outside Texas, and my first impression of the firm was that it was welcoming and collegial and had incredibly knowledgeable attorneys committed to training the next generation of legal talent. I have stayed because all of that has remained true.
As I have worked through the years with our offices across the firm, I have found good friends, strong mentors, and wonderful partners who are all experts in their respective fields and take on some of the most interesting and sophisticated legal work. I’ve been lucky to work with some really great clients and build strong relationships to help them grow their businesses.
Lawbook: What deals are you the most proud to have worked on during your career?
Frank: It’s really hard to pick just a few. I particularly enjoy working on transformational transactions for my clients. I’m proud of the work we did with one longtime biotech client. We represented them from their IPO through their multi-billion-dollar sale seven years later after they received FDA approval for their treatment of a rare and debilitating disease. I’m also proud of the capital-raising work we did for a major airline at the onset of the COVID pandemic in 2020, when the macroeconomic future was incredibly uncertain. Lastly, we’ve worked with a longtime energy client with several transformational acquisitions over the last few years. It’s amazing to see how the business and legal teams work together to achieve challenging and significant goals.
Lawbook: What have been some of your biggest wins, and what have been your biggest challenges in your career?
Frank: I consider my family both my biggest ‘win’ and biggest ‘challenge.’ I am a mom of three kids, ages seven, five and two. If you do the math, you’ll note that in 2020, the year I was up for partner, I had a two-year-old and a six-month-old. Honestly, I’m not really sure how my husband, who is also a lawyer, and I managed through the pandemic. I’m pretty sure we didn’t sleep. Throughout my career, I’ve seen a growing number of ‘corporate law partner moms’ who support each other in figuring out how to balance it all, and some have been great mentors to me. I strive to pass that support on and be a helpful resource to young parents in my firm who are also navigating the demands of this job alongside their important roles at home.
Lawbook: What do you feel separates your approach in advising and working with clients versus other attorneys out there who are working within the same industries you are?
Frank: I’m practical, knowledgeable and collaborative. I understand that the vast universe of securities laws can sometimes feel contradictory and incomprehensible to clients. I work to be a good listener and prioritize understanding my client’s needs and goals, using my expertise to navigate toward the best solution for my clients. I’m also a mom of three kids. I’m used to chaos, and it’s hard to scare me, so I can provide calm, timely advice even in the midst of a corporate storm.
Lawbook: What are your expectations for M&A and capital markets for the rest of 2025?
Frank: While we had anticipated a surge in IPOs this year, recent market volatility has dampened our expectations. We are seeing the continuation of a high number of debt refinancings and bond offerings, which is to be expected given the strong offering activity in 2020 and 2021 and the fact that many of those issuances are nearing maturity. However, the current market uncertainty makes predictions very difficult. We will have to wait and see what happens on a macroeconomic level.
Lawbook: What is keeping you busy lately?
Frank: Since the beginning of this year, our Dallas team has facilitated several debt offerings and refinancings, hosted the inaugural Vinson & Elkins Dallas IPO conference in February and authored an article regarding the differences between Texas and Delaware law. Recently during 10-K and proxy season, I also helped my public company clients navigate the changes brought by the new administration.