Name: Beatrice Joliot

Law firm/Employer name: Deutsche Bank

PQE: 5 years (plus 5 years of relevant experience in-house)

Practice area: derivatives and structured finance

 

What was your top reason for moving to Singapore?

Lifestyle principally: nice weather, good facilities and an easy commute, all at the heart of Asia with excellent travel opportunities.

How did you research who the law firms/banks in town are, and how did you draw up a shortlist of who you wanted to work for?

I used online services such as eFinancial as well as talking to recruitment agencies.

Why did you opt for a job at Deutsche Bank in the end?

The job was matching the kind of work I wanted to do. Also Deutsche Bank is a large bank with a large legal department and offices in many countries, so I figured that I could move around/go back home with them if need be.

How did you find the application and interview process?

The interview was via video conference and that made me feel a bit uncomfortable at first. But overall it was straightforward.

How does working in Singapore match up to your expectations in terms of the quality and quantity of work?

The work is somewhat different from London for a variety of reasons:

i) people are different: business is less polished/experienced here and it felt a bit like the 'Wild West' at first. Asia is a relatively new player in the financial markets compared to the historic City of London;

ii) derivatives products are less sophisticated (sometimes it takes two to three years for something done in London to then be done in Singapore, e.g. inflation-linked products are just starting to be done in Singapore/Hong Kong);

iii) time difference: if all your clients are in Southeast Asia then there is no issue, if some are in India, some are in Southeast/Northeast Asia and some in Europe or even the US, then your office hours extend accordingly. So time management is critical. I am lucky to have a very good remote access system and a BlackBerry so I can leave the office at a decent hour and then still support the business remotely; and

iv) lastly, the work I have been doing as an in-house counsel is more varied because the local regulations applicable to financial products are more diverse or in a constant state of change. This makes the work a lot more challenging than working in Europe.

Can you give an example of an interesting piece of work you have recently completed at Deutsche Bank?

Real estate financing in India, using equity investments combined with call options thereby making the investment a quasi debt instrument.

The deal took nearly a year to complete because the local regulations changed twice and the client changed his mind half-way through. It was a very challenging transaction.

What is the biggest difference between being a City lawyer and a lawyer working in Singapore?

The market is a lot smaller here. People get to know each other quickly and one's reputation is very important.

What's the bedding-in period for a new lawyer at Deutsche Bank in Singapore?

In-house lawyers are usually thrown straight into their new role.

Is there anything you miss about working in the City as a lawyer?

My friends, although it is very quick to build a network in Singapore as the expat community is large. Also most people are here for two to four years, so people network openly.

NewHorizonsJuly2008