As the American Bar Association (ABA) Business Law Section’s Mergers & Acquisitions Committee marks its 40th anniversary, the evolution of women’s leadership in M&A is inseparable from the contributions of Leigh Walton. Women have long been underrepresented in the field, but Leigh’s early engagement helped change the trajectory. In 1986, she stepped in to attend an ABA conference in place of a male colleague and quickly became involved in shaping practice-oriented guidance for M&A lawyers. Over time, that initial opportunity grew into sustained leadership, culminating in Leigh becoming the first woman vice chair and then the first woman chair of the ABA M&A Committee, a milestone that broadened access to visible leadership roles for women dealmakers.
Leigh’s impact extended well beyond her own tenure. Alongside other senior leaders, she helped launch the Women in M&A Task Force, which evolved into the Women in M&A Subcommittee in 2013. The Subcommittee took a data-driven approach to addressing gender disparities, conducting biennial studies and developing initiatives such as law school outreach to encourage early exposure to M&A practice. These efforts have coincided with meaningful progress, including a significant increase in women’s participation in M&A over the past decade and rising female leadership within the Committee itself.
Leigh’s journey – from seizing an unexpected opportunity to shaping a lasting institutional framework – illustrates how early exposure and visible leadership can drive cultural change. Her example continues to influence a new generation of women in M&A, reinforcing that leadership not only advances individual careers but also creates pathways for others to follow.
Leigh’s contributions to the M&A Committee were featured in an article written by current vice chair of the Women in M&A Subcommittee, “40 Years of the M&A Committee: The Rise of Women in M&A,” that was published by the ABA on April 13 an is available online.