I started as a trainee at Linklaters in 2006 doing a range of corporate and finance work. I then qualified on 15 September 2008 – the very day that Lehman Brothers went into administration – and spent the first few years of my career as a qualified lawyer refinancing / restructuring hotel transactions and stressed PE situations. I undertook a couple of secondments – to NatWest group legal, and then to Lehman Brothers in order to assist with the administration. From about 2012 onwards, I really focussed my practice on corporate finance – assisting treasurers from across a diverse range of companies on their key finance transactions. I’ve worked on many event driven transactions – involving public and private M&A, as well as corporates’ core loan and treasury financing arrangements. In 2022, I started at Eversheds Sutherland as a partner in the banking and finance team.
I’ve spent my career getting to know a good number of treasurers. I’ve really enjoyed working with them – I find there’s a common thread, in that they really do see the wider picture as to where a particular transaction fits within the business. As lawyers, we can do our best to narrow down the list of open points, but ultimately we need our client to take a position on the commercial points. Treasurers are very good at assessing what is crucial in the context of their business, what flexibility is needed from their finance providers, and how some of the more technical aspects – such as the financial covenants – tie in with their accounts. Because of the broad range of experience which treasurers have typically acquired – it’s always very interesting talking to them, and I always come away having learnt something.
So much has happened in the ESG space in recent months – with example riders published by the LMA for sustainability linked loan facilities, and updated principles and guidance for green, social and sustainability linked loan transactions. We plan to look at sustainability linked loans through the lens of a corporate – and how to successfully execute a sustainability linked loan transaction.
I felt that the conference was very up-beat, notwithstanding the headwinds of high inflation and increasing interest rates / funding costs. It was notable in the market update which was provided by SMBC that a significant number of treasurers indicated that they would be undertaking some sort of refinancing within the following 12 months – whether as an ‘amend and extend’ or a full refinancing. More generally, a significant volume of refinancing activity was expected in 2024 / 2025 – as facilities which had already been extended during the Covid-19 period would be approaching maturity. Further, should interest rates stabilise / fall, it may open the opportunity to more event-driven transactions, such as M&A.
Be kind, courteous and compassionate to all you meet, regardless of who they are or what role they are playing. It is so, so important in life to treat everyone as you would yourself like to be treated.
The ACT provides a really broad range of training – with something which will be of interest and relevance to everyone. I do find the annual dinner to be fantastic; a great opportunity to meet up with lots of clients all in one venue. It always feels like time has never passed, and you’re just picking up where you last left the conversation. It’s a brilliant event in the calendar, and one which I would really encourage members to attend.
In a work context, definitely my laptop (and my laser printer), closely followed by my iPhone (other brands do, of course, exist). Outside of work – SatNav!
Charles Dunn – formerly a partner at Linklaters. Charles was my supervisor when I was a young 22 year old trainee. He taught me so much about client care, and how to communicate effectively with your clients and counterparts. On a personal note, he was instrumental in suggesting that I go on secondment to Amsterdam for 6 months – a city I love very much, and where I have been back to many times since.
Thoughtful. Polite. Cheerful.