Upon leaving the White House, Mr. Connaughton practiced law at Covington & Burling, where he specialized in appellate litigation. In February of 1997, he joined Jack Quinn at Arnold & Porter, where they formed a Public Policy Practice that served a number of their current clients. Between 1983 and 1987, Mr. Connaughton worked in the public finance departments of Smith Barney, Harris Upham & Co. and then E.F. Hutton, Inc., where he served as senior managing underwriter of more than $500 million of tax-exempt bonds. Mr. Connaughton is a 1981 graduate of the University of Alabama. In 1983, he received his M.B.A. with honors from the Graduate School of Business of the University of Chicago. He is a 1994 graduate of Stanford Law School, where he served as Senior Article Editor of the Stanford Law Review and was named to Order of the Coif. In 1994, he was a clerk for then-Chief Judge Abner Mikva of the United States Court of Appeals for the D.C. Circuit.