Dealmaker: Julian Long
Julian Long, one of Freshfields' most prolific M&A partners, on his day in court and the cheese/time dilemma
June 04, 2008 at 10:34 PM
5 minute read
Julian Long, one of Freshfields' most prolific M&A partners, on his day in court and the cheese/time dilemma
Why did you become a lawyer?
Eager to follow a more academically-focused girlfriend when she went to university, I talked my way into a neighbouring law school in a manner now prohibited by various European Union directives on the creation of misleading impressions. It has been pretty hard to shake off the lawyer tag ever since.
Who has been the biggest influence on your career?
I grew up, relatively speaking, working for James Davis, Anthony Salz and Philip Richards and learnt there were at least three ways of looking at everything and often many more.
What's your proudest professional moment?
Seeing a succession of talented associates become excellent partners despite working with me along the way; Julian Pritchard, Claire Wills, David Sonter and David Higgins, as well as this year's excellent corporate intake of Adrian Maguire, Simon Weller and Graham Watson.
…and worst day on the job?
Three Court of Appeal judges peering down at me in the front row – they sit very high up in the Court of Appeal – and pausing for ages before deciding to sanction the P&O/Dubai Ports scheme of arrangement. Corporate lawyers were not designed to be in court in relation to their own drafting!
Aside from your own firm, which lawyers do you most admire and why?
The late and much-missed Richard Sykes QC – a fabulous lawyer and so patient with those of us taking time to catch up; and Katharine Lacey, who won all the important points as a litigator at Clyde & Co and continues to do so to this day.
What's your strongest characteristic?
Facilitating deals by seeking to put the client's objectives first rather than worrying about the precedents.
…and worst trait?
With hindsight, being a little vague as to why we did not follow the precedents.
What advice would you give to young deal lawyers starting out?
Almost everybody you deal with will turn up in a different place round the table on a future deal.
What's the toughest ethical/moral dilemma your job has ever presented you with?
Deciding whether to answer this question.
What's the best part of your job?
The quality of my partners.
How do you think assistants in your team see you?
Having recently added HR in the corporate department to my responsibilities, you can be pretty sure that the confidential feedback on me will be very positive indeed.
What most annoys you about the legal profession?
The slight tendency to be equally gloomy about too much work and too little.
If you could change one thing about the profession, what would it be?
Lawyers' awards ceremonies.
What misconceptions do junior lawyers have about the firm before they join?
I am told that (a) there is no work-life balance and (b) it is not a very sociable environment.
What's the worst corporate event you've ever attended?
Taking 10 guests from a certain Scottish bank to see Scotland's heaviest-ever defeat at Twickenham – the post-match party never really got going.
Most memorable deal you have ever worked on and why?
My first one as an articled clerk selling a book distributor for £1.5m, acting for an individual pretty much by myself and learning a lot about client service in my first few weeks.
What will be the most significant market trend in terms of your practice area over the next 12 months?
In healthcare the beginning of the response of big pharma to the pressures in the industry together with continuing M&A activity around healthcare services provision. In M&A generally, more innovation around deal structures and what amounts to sufficient control or influence but falls well short of 100%.
What is the daftest bit of corporate-related jargon you've heard (and did you smirk)?
I always like the encouragement to 'share the pain' – nearly always said by the person who you imagine is least likely to be suffering any.
Do you see yourself having a career outside law?
Yes, if neither Arcade Fire nor Arctic Monkeys will have me then I shall become a consultant sabbatical planner for all those partners at law firms sensible enough to have sabbaticals.
What's your favourite item of clothing?
My Australian bush hat.
What's your favourite cheese?
This is stressful – the truth is there is so much cheese out there and so little time.
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