Dealmaker: Mike Francies
The deal lawyer's deal lawyer, the not-exactly-workshy Mike Francies heads the London arm of Weil Gotshal & Manges
August 30, 2006 at 08:03 PM
5 minute read
Why did you become a lawyer?
I honestly can't remember, it was just something I always wanted to do; I probably liked watching Perry Mason on TV.
Who has been the biggest influence on your career?
Martin Richards was my first mentor. He taught me many things, including the need to be technically excellent and never give up searching for a solution. Then Peter Brooks and Jeremy Brownlow, both outstanding lawyers with great client relationships and problem-solving skills and a huge work ethic, ambition and drive.
What is your proudest professional moment?
In December 1999, I was in New York for a partners' meeting and when I opened the Companies page of the Financial Times, there were five deals on the front page and Weil Gotshal in London were advising on all of them (it did make me wonder why I was in New York not London!)
…and the worst day on the job?
Not sure; to be honest, I have been very lucky, I love what I do and the good times far outweigh a few disappointments. Maybe the day I realised just how much time being managing partner would take up that could be used doing deals.
Aside from those at your own firm, which lawyer do you most admire and why?
Lawyers who are good technically and combine it with a pragmatic approach. It is always better to deal with someone you can learn from. If I had to pick some out, David Cheyne at Linklaters normally knows what you should advise your clients before you do! Stephen Cook from Slaughters, a great problem-solver and very easy to deal with. Mark Rawlinson and Ed Braham at Freshfields cover every point in a constructive way. Scott Simpson at Skadden – there is no deal problem he cannot solve, and he puts everyone in the shade as regards total commitment to clients. Michael Hatchard of Skadden, maybe the best technical lawyer I know. James Palmer at Herbert Smith and Adam Signy at Clifford Chance, good lawyers who make deals happen. Paul Claydon at MoFo – if you have a complex legal problem that needs to be worked through one step at a time to reach a difficult answer. There are lots of people I have left out, but I will stop before I get into too much trouble!
What annoys you most about the profession?
Lawyers who are self-important, pompous or who points score.
How do you think your assistants view you?
If you look at my upward review, on the plus side they like and respect me and think I am a good lawyer who is loyal to them and treats them fairly. On the downside, they say that sometimes I am rushing around so much that my instructions as to what I want them to do and feedback as to how they have done it are not the clearest, and that I can be hard to get hold of. Maybe at times I am too hard a taskmaster.
What advice would you give to young deal lawyers starting out?
Remember you are a lawyer; you can be as commercial as you (or rather your clients) like, but if you are not an outstanding lawyer it will not really matter – think of solutions in a legal context. Also remember clients spend a lot of time with their advisers on deals; it is much easier if everyone gets on, so be a team player. No-one wins if someone is thinking of how good they look as opposed to what is the best for the client.
What will be the most significant market trend in terms of your practice area over the next 12 months?
Increased corporate activity in M&A, making relationships with active corporates more important. Big club deals for private equity. Towards the end of the year, some big restructurings.
How often do you wonder if you are in the wrong line of work?
Never.
What is the best part of your job?
Getting the deal done.
…and the worst?
When someone else wins the deal you are working on!
Are you really the arch-workaholic of legend?
I say no, but everyone else seems to say yes.
What is your biggest extravagance?
Not sure – my wife? My Watford FC shares?
Where do you see yourself in 10 years' time?
Doing deals.
What is your favourite lawyer joke?
My children say I should never tell jokes as I have the worst sense of humour and embarrass them as I am the only one who ever laughs at my jokes. Someone told me one last week: "What is the difference between God and a tax lawyer? God doesn't think he is a tax lawyer."
What is your favourite cheese?
The one they put in Starbucks cheese and Marmite paninis.
Dealmaker returns in two weeks.
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