Slaughter and May, Allen & Overy (A&O), Clifford Chance (CC) have all picked up advisory roles in the UK government’s £11.8bn sale of buy-to-let mortgages from failed lender Bradford & Bingley. Continue reading “A&O and CC take spots as Bradford & Bingley loans sold by Slaughters Treasury client”
‘Times have moved on’: City firms shrink office space as new leases down 50%
According to CBRE’s fifth Law in London report, the largest 100 firms in the City have made ‘significant changes’ to their real estate over the last five years, notably through a decrease in space per fee earner. Continue reading “‘Times have moved on’: City firms shrink office space as new leases down 50%”
City elite reduce partnership rounds as Slaughters makes up seven and Macfarlanes three
After making its first ever lateral hire in London last month, Slaughter and May has strengthened its London bench with five new partners, including three women. Macfarlanes also made up three partners in the City earlier this week. Continue reading “City elite reduce partnership rounds as Slaughters makes up seven and Macfarlanes three”
NatWest SME law firm report warns lock-up a concern although business climate positive
With an average revenue growth of 5% in 2016, the business climate for small to medium size (SME) firms with income under £123m in the UK has been generally positive, according to the latest NatWest Legal Benchmarking report out today (30 March). Continue reading “NatWest SME law firm report warns lock-up a concern although business climate positive”
‘A different direction’: Addleshaws GC Callander departs for role at Supergroup
Addleshaw Goddard‘s general counsel (GC) Simon Callander is leaving the firm for a role as GC and company secretary at UK fashion retailer SuperGroup. Continue reading “‘A different direction’: Addleshaws GC Callander departs for role at Supergroup”
Fried Frank London leadership to move to Mifsud as veteran White retires
Fried, Frank, Harris, Shriver & Jacobson‘s London managing partner Graham White is to retire later this year with asset management partner Mark Mifsud taking up the role of London head. Continue reading “Fried Frank London leadership to move to Mifsud as veteran White retires”
Norton Rose Fulbright reshuffles Asia management with three appointments
Norton Rose Fulbright (NRF) has made a series of new management changes to its Far East offices, with new managing partners for its Hong Kong and Singapore offices and the appointment of project finance partner Nick Merritt as head of Asia business strategy. Continue reading “Norton Rose Fulbright reshuffles Asia management with three appointments”
Moving up: RSA group makes Cope head of legal for UK and international business
RSA Group has appointed Jonathan Cope as head of legal for the insurer’s UK and international business. Continue reading “Moving up: RSA group makes Cope head of legal for UK and international business”
Guest post: More evidence piles up on the role of in-house counsel in preventing scandal
News of Tesco’s Deferred Prosecution Agreement promises me another day combing through meticulously negotiated documents to see if in-house, or outside, lawyers were involved in the latest corporate scandal. Continue reading “Guest post: More evidence piles up on the role of in-house counsel in preventing scandal”
‘Not a smooth process’: The legal profession opines on the Brexit negotiations to come
City lawyers have voiced their concerns as today (29 March) prime minister Theresa May has started the process of triggering article 50, launching a complex two-year negotiation before Britain leaves the EU in 2019. Continue reading “‘Not a smooth process’: The legal profession opines on the Brexit negotiations to come”
Freshfields and DLA announce Brexit hires as May triggers article 50
Freshfields Bruckhaus Deringer and DLA Piper have announced high-profile Brexit hires as British Prime Minister Theresa May triggered article 50 today (29 March). Continue reading “Freshfields and DLA announce Brexit hires as May triggers article 50”
‘No justiciable defence’: Cleary, NRF and Quinn to go another round in $3bn Russian bond dispute
Partners from Cleary Gottlieb Steen & Hamilton, Norton Rose Fulbright and Quinn Emanuel Urquhart & Sullivan are set to go another round as Ukraine has vowed to appeal a pre-trial decision over a $3bn Russian bond repayment. Continue reading “‘No justiciable defence’: Cleary, NRF and Quinn to go another round in $3bn Russian bond dispute”
‘Implications across the board’: Supreme Court clarifies professional negligence rules in landmark BPE Solicitors case
City partners have reacted positively to a Supreme Court ruling which found a firm was not responsible for the entire costs of a client’s failed property transaction. Continue reading “‘Implications across the board’: Supreme Court clarifies professional negligence rules in landmark BPE Solicitors case”
‘It could still fall apart’: Freshfields client Tesco takes DPA after two year SFO investigation
Tesco has agreed to pay the Serious Fraud Office (SFO) £129m in fines relating to a 2014 profit misstatement, avoiding prosecution after a two-year investigation. Continue reading “‘It could still fall apart’: Freshfields client Tesco takes DPA after two year SFO investigation”
‘You don’t need to do this in-house’: Pinsents takes 20% stake in New Law outsourcing start-up
As general counsel continue to face pressure over costs, Pinsent Masons has acquired a 20% stake in New Law outsourcing business Yuzu, which was founded in January by former Colt group general counsel Robin Saphra. Continue reading “‘You don’t need to do this in-house’: Pinsents takes 20% stake in New Law outsourcing start-up”
Simpson and Latham in the driver’s seat as Aston Martin launches £530m two-part high-yield bond
Simpson, Thacher & Bartlett and Latham & Watkins have taken lead roles as Aston Martin has launched a new high-yield bond for £530m equivalent, as the car manufacturer moves to expand its range of vehicles in order to boost profitability. Continue reading “Simpson and Latham in the driver’s seat as Aston Martin launches £530m two-part high-yield bond”
Hogan Lovells makes major Silicon Valley play with Weil Gotshal corporate team
While the transatlantic firm has repeatedly stated its aim to bulk out its corporate weight, Hogan Lovells is expected to land a veteran team of former Dewey & LeBoeuf partners to its Silicon Valley office following a partnership vote. Continue reading “Hogan Lovells makes major Silicon Valley play with Weil Gotshal corporate team”
Be an Entrepreneur: Barbara Mayer-Trautmann
I come from a strong corporate background and never imagined becoming a lawyer. I had done an apprenticeship at a global company before beginning my studies and planned to go back afterwards – you know, make it up to the board someday. At school, I was torn between engineering and the law, but decided to go with what made me happy. The law classes were much more fun and interactive.
I stayed with the company part-time and, after graduation, asked to be relocated to London. They said they would do it after another year in Germany. That wasn’t fast enough, so I asked my brother, who was studying law at Oxford, to recommend a firm that had offices in London and Germany. Clifford Chance had been recruiting there the night before, so that was his suggestion. I interviewed a week later and got an offer the same day. The deal was: three months in Germany, then two years in London.
I started on the M&A team but, after moving to London, discovered that finance law is more transportable. The documents are more commercial and, therefore, less affected by local governing law, so I switched to acquisition finance. I’m definitely in the right field. My practice is connected to living companies, and I enjoy working with high-profile clients and making things happen. I also love the independence of being a partner, aligning my own strategy with the firm’s and figuring out how to be successful.
One thing I’ve learned is that you will never get there alone. No one does everything well, but as a team, you can do it all. I find it easy to develop client relationships and run complex deal meetings. But ask me to give a public speech, and I will go straight to a particular colleague and say, “let’s do this together.” That’s her strength, and she loves doing it. Then I make sure I am super prepared for my part.
I encourage everyone on my team to be entrepreneurial. For junior lawyers, my advice is to get close to a few key clients. Work on repeat assignments, give speeches at closing dinners and find ways to connect at a plain level. Then balance that with other projects for broader exposure. It’s never too soon to build relationships and help sell your firm.
My first child was born right after I was made a partner. I took my full leave but worried about being out of the market for six months. I had great support, so it was all in my head. When I returned, people said things like, “Oh! You’re back after only two weeks?” After that, taking leave for my other three kids was much easier.
Childcare is not the place to count pennies. Get the help you need, and then learn to let go and trust what you’ve done. My own feelings of success thrive when I manage to balance, and find compromise in an enjoyable way, the competing demands of family and my personal passions – downhill skiing, the opera and my two greater Swiss mountain dogs – and being a partner at an elite global firm.
Step-by-Step: Thais Garcia
The key milestones in my career have all involved taking some risk and not necessarily following the traditional path – trusting my instincts. The first of those moments was deciding not to be afraid to experiment, and even fail, for the sake of getting the right exposure. During law school, I explored different practices and environments, such as clerking for a federal tax prosecutor, an internship at a litigation firm and working in-house at a tech start-up. There was no mortgage to worry about, so I just went for it! These experiences have been extremely valuable not only because they broaden my perspective of what it meant to be a lawyer, but also helped me make a more informed decision about which path to take following graduation. After doing a little bit of everything, I realized that I was better suited to transactional work, which focuses on consensus building and a shared goal of getting the deal done.
Next was a move to Spain for my LLM, which led to a job offer in my firm’s Madrid office. As a Brazilian law-qualified attorney, the safer path would have been to join a local firm back home, but I had a gut feeling that working at an international firm and learning an entirely new legal system would be too interesting to pass up. I remember having a discussion with my parents about whether to take an offer in Spain or in Brazil, and they said something that I will never forget: “Opportunities come and go, and there is no such thing as perfect timing. Don’t miss out on the good ones as they might not be there tomorrow.” When I was later considering a move to New York, Spain had then become the safe choice. I remembered my parent’s words of wisdom and didn’t think twice about relocating to the US to help strengthen our Latin America practice. The key lesson I learned from these experiences, when I look back at the choices I’ve made, is that my most rewarding experiences always involved some risk and trusting my gut.
Regrets are equally part of the process. I don’t have many, but the ones I can think of involve choosing inaction over action, particularly not taking a stand. As a junior lawyer, I participated in a deal negotiation, during which a senior person on the other side spoke disrespectfully to me. I wanted to say something, politely, but completely shut down and later regretted not having the courage to stand up for my principles. Thankfully, my colleague, a senior partner, saw my discomfort. He stopped the meeting and demanded a more respectful tone as a condition of moving forward. Afterwards, he said to me, “I just won’t tolerate that kind of behavior.” He is a good friend and mentor to me to this day.
For those starting out, my advice is to trust your instincts, stand up for what you believe is right and take some risk every now and then, no matter how junior you are. Also, always seek out role models and mentors. It is key to have a good support network and people that you know will be there for you when you need them the most.
Behind the advice: Caroline Meinertz
Self identity: a social construct
I wanted to be an adviser – I enjoyed talking to people and giving them advice – so it was no coincidence that I ended up as a lawyer who gives regulatory advice.
When I started in this career, I didn’t appreciate the importance of networking and spending not just time in the office, but social time with clients, industry representatives, journalists, and the whole ecosystem that comes with the profession.
That changed when I realized the importance of building a market profile. The area of law that I’m in is closely connected to political events, which made it even more important to be out there, and to be seen to be out there. When you are in the business of giving advice, people want to know the market view − not just your view.
You don’t have to meet everybody, but take the right opportunities such as speaking engagements or participation on panels. And if you make the effort to go along, make sure you say something.
A physical and mental workout
The primary skill that I’ve had to develop is resilience, and by that I mean both physical and mental resilience. You learn to operate when you’re feeling less than 100 percent well – things have to be done, and no one else is going to do them for you. It’s partly being a team player and not wanting to let others down.
In terms of mental resilience, you have to make tough decisions and deal with the consequences.
Know your “USPs”
Working on business and management skills as early as possible is really important; being a lawyer is not dissimilar to any other sales role. Ultimately, what we sell is legal advice. You can be the best technical lawyer in the world, but if you can’t sell your skills – your Unique Selling Points – you’re not going to attract clients. People find it hard to talk to clients about charges and ways to structure them so as to be cost-effective, but that’s a good skill to have.
Personal assistance
I was very lucky in that I had a great mentor. My advice to younger lawyers would be to identify somebody who can provide independent advice about your career. This is absolutely invaluable. It doesn’t have to be a lawyer, but someone prepared to give up a bit of time to chat through different challenges or issues when you’re at a turning point.
When building your career, your personal choices are as significant as the professional choices, because if your home life isn’t right, your work life is going to be challenging as well. Building a good and realistic support network is very important.
Believe in yourself
My overall advice is to have confidence in your own abilities, even when you go through stages – and we all do – when you have doubts about whether you’re able to meet a particular challenge. Believe in yourself, because if you don’t, no one else will.
