Michael Rich “fell into” the specialty finance industry during law school, but he quickly found his stride at Otterbourg P.C. Drawn by the firm’s “cradle-to-grave” approach to finance work, Rich immersed himself in sectors ranging from staffing and trucking to government and sponsor finance. While his early years were defined by a strict focus on legal mechanics and documentation, his perspective has since evolved to prioritize commercial realities. “Over time, I’ve learned to step back, focus on commercial realities and prioritize what the client needs to get the deal done,” Rich says.
As a partner at the firm, Rich views himself as a problem solver rather than a roadblock. He recently demonstrated this “get the deal done” philosophy while managing a high-pressure financing arrangement for a new finance provider entering the space. Tasked with a tight funding deadline and the need to develop new forms from scratch, Rich navigated a challenging dual-track process. He counseled the client on operational standards while simultaneously negotiating with prospective borrowers to ensure a timely launch. “Seeing a new entrant successfully launch in this space, and knowing I played a role in that, was rewarding,” he notes.
Rather than following a single mentor, Rich has built his expertise by taking “bits and pieces” from everyone he interacts with, including partners, clients, opposing counsel and junior associates. This broad perspective reinforces his belief that specialty finance is, at its core, a service industry.
He focuses on aligning his objectives with his clients’ goals, understanding their specific pain points and prioritizing the issues that truly impact their success. “No one cares if you ‘win’ a negotiation point that doesn’t actually matter to the client,” Rich explains, maintaining a practice dedicated to efficient, goal-oriented service.
