Gibson Dunn: Leading With Clarity And Compassion

Meet Hilary Holmes, the Co-Chair of Gibson Dunn’s Capital Markets group and a member of the firm’s Securities Regulation & Corporate Governance, Mergers & Acquisitions, ESG, and Energy & Infrastructure practice groups. Hillary serves as co-partner-in-charge of the Houston office and as a member of the firm’s Executive Committee. Hillary advises corporations, investment banks, and institutional investors on long-term and strategic capital raising. She counsels boards of directors, special committees, and financial advisors in M&A transactions, taking on private and complex situations. She also regularly advises companies on securities laws, corporate governance, and ESG issues.

The Steadfast Leader

Hillary has always believed that the best leaders lead by example with clarity, consistency, integrity, and a genuine commitment to those around them. Hillary focuses on creating an inclusive environment where every individual feels valued and empowered to grow. This process starts with attentive listening. Whether it pertains to a junior associate finding their voice or a client facing a challenging situation, she makes it a point to be present, comprehend their perspective, and help them to move forward with confidence.

Hillary possesses a collaborative spirit, yet she is also resolute. She believes in establishing high standards and subsequently offering the necessary support and trust for individuals to achieve them. This equilibrium has proven beneficial for her, particularly in the energy sector and dealmaking, where the pace is rapid, stakes are high, and the need for steady, thoughtful leadership is constant.

Empowering Next Generation Leaders

Mentorship has had a significant impact on Hillary’s personal and professional journey, prompting her to prioritize giving back. She not only provides guidance but also creates opportunities. This includes inviting younger lawyers to participate, encouraging their contributions, and allowing them to witness the decision-making processes.

Hillary has taught them not to hesitate in seeking opportunities when they recognize their potential to contribute. She empowers them to recognize their potential and to confidently pursue growth. By openly sharing the challenges she’s faced, including being the only woman in the room, finding her voice, and overcoming self-doubt, Hillary provides a candid, relatable blueprint for navigating the legal profession.

Evolving with Changing Economic and Regulatory Shifts

Hillary and the Houston-based oil and gas team have adopted a more strategic approach. This involves providing counsel to clients at an earlier stage in the process, assisting them in new opportunities, and critically evaluating timing, structure, and long-term positioning.

Her role extends beyond transactional execution; she plays a pivotal part in shaping the very foundation of deals. In today’s complex and fast-changing regulatory environment, clients need advisors who can navigate both the legal landscape and its implications in the boardroom and investor relations. Hillary meets this need with a rare blend of legal acumen and business insight.

Assisting Clients to Navigate Challenges

In the current landscape, raising capital involves more than merely timing the market; it requires articulating a compelling narrative, fulfilling expectations, and steering clear of expensive errors. Investors seek insight into how companies manage risk, demonstrate responsible leadership, and build long-term, sustainable value. This adds significant complexity to an already high-stakes process for numerous firms, particularly in the energy and infrastructure sectors.

Hillary plays a critical role in helping companies navigate this challenge. She advises clients on the full spectrum of capital-raising strategy—from selecting the optimal transaction structure to developing investor-ready messaging that resonates in competitive markets. She works closely with boards and management teams to ensure they are prepared, aligned, and positioned to secure capital when the timing is optimal for both the business and the market.

The Changing Capital Market Landscape

Investment banks play a pivotal role in shaping the capital markets’ landscape. They have extended their influence beyond merely executing transactions. They are often strategic partners to company CEOs and top executives. They provide insight into investor behavior, guide storytelling, and help position companies in a crowded, fast-paced environment. The best bankers bring not only technical ability but also a sharp understanding of how deals align with a company’s long-term vision.

Institutional investors have become powerful drivers of market behavior, not just in terms of capital allocation, but in shaping corporate priorities. Their influence has expanded beyond returns to include how companies govern themselves, manage risk, and operate responsibly. They are asking tougher questions, demanding better disclosure, and holding boards accountable in new ways.

For companies, this evolving landscape demands a proactive approach. Hillary partners with organizations to anticipate investor expectations, design robust governance frameworks, and articulate clear, credible visions that withstand scrutiny. Her work empowers companies to not only meet their capital demands but also to build trust and drive sustainable growth.

As the relationship between companies, investment banks, and institutional investors continues to evolve, it is raising the bar for everyone involved, pushing the global capital markets toward greater accountability, long-term value creation, and innovation-driven progress.

It’s About Strategic Alignment

Hillary emphasizes that mergers and acquisitions (M&A) are no longer driven solely by the pursuit of scale—they’re increasingly focused on strategic alignment. Today’s most forward-thinking companies are leveraging M&A to position themselves for long-term success in the evolving energy landscape, targeting assets that support decarbonization, operational resilience, and digital transformation.

“There is significant momentum surrounding transactions that involve grid modernization, water optimization, infrastructure growth, nuclear, and energy storage, and just generally innovation that leverages the capital and intelligence of the traditional oil and gas sector,” she notes.

These investments are not ESG initiatives; they are fundamentally robust opportunities that correspond with the direction of market trends and regulatory developments. Companies are taking more adaptive approaches to growth, embracing carve-outs, joint ventures, and portfolio rationalizations to sharpen their focus and manage risk effectively. Meanwhile, private equity and infrastructure funds are playing an increasingly influential role in the space. Their involvement is mostly focused on value creation and operational discipline, accelerating innovation and bolstering efficiency across the energy ecosystem.

Navigating Increased ESG Scrutiny

As scrutiny of companies’ environmental, social, and governance (ESG) claims grows, many businesses are rewording or removing certain statements and working to provide stronger evidence and clearer explanations. The goal: greater transparency and credibility.

Some companies are weaving ESG principles into broader descriptions of their business strategy, without always using the ESG label. As Hillary noted from her early experience in the energy sector, energy companies were already embracing ESG values long before the term became popular; they just called it good business.

Future Roadmap

“The most significant growth prospects for Gibson Dunn in Houston stem from the firm’s ongoing strategy of aligning itself with clients’ evolving needs – offering innovative legal counsel that delivers results and builds lasting trust. As companies face industry consolidation, energy transition, technological disruption, and shifts in capital markets and regulatory landscapes, they encounter unprecedented opportunities and complexities. In response, Gibson Dunn’s Houston office remains committed to serving the industry with excellence, discipline, and ambition.”