Dealmaker: Nick Angel
With a name like Nick Angel, he should have been a PI - instead, he heads Ashurst's restructuring team
May 27, 2009 at 10:34 PM
4 minute read
With a name like Nick Angel, he should have been a PI – instead, he heads Ashurst's restructuring team
Why did you become a lawyer? I was very keen to become a biologist but unfortunately David Attenborough had the job I wanted. Becoming a lawyer was the obvious alternative.
Who has been the biggest influence on your career? David Robbins at Berwin Leighton Paisner got me started in the insolvency and restructuring business. Since then, there have been many strong influences within my firm and while it is difficult to single anyone out, I have learned a great deal from Michael Johns.
What was your worst day on the job? When I was much younger and less experienced, I made the mistake of expressing to my client an unflattering view of a lawyer on the other side, only to have the client reply: "Hmm, that's my sister."
Outside your own firm, which lawyers do you most admire and why? I have always enjoyed working with Ian Field at Allen & Overy who is pragmatic, commercial and good to deal with. And Nick Frome at Clifford Chance always makes things fun!
What's your strongest characteristic and worst trait? I think I bring a commercial approach to deals and can get things done effectively and in a relatively harmonious way. My worst trait, like many lawyers, would have to be taking too much on.
What advice would you give any young deal lawyers starting out? Make sure you are doing what you really enjoy. This is a tough job but if it suits you, it can be enormously rewarding. Pick your firm very carefully – they are often quite different – and try not to become overly specialised if you can help it. As the current market has demonstrated, flexibility is invaluable.
What most annoys you about the profession? Pomposity and people who write letters as if it were still 1850.
What's your strongest card – technical wizardry or smooth client skills? Well, since you ask… I'd say it is difficult to survive in my business without a bit of both, but experience has taught me that the way in which advice is delivered is often appreciated more by clients than the content of the advice.
What is the worst corporate event you have ever attended? Coming from the insolvency and restructuring world, there is some competition for this title. The clear winner, though, is undoubtedly the 'Ladies Lunches'. These started off many years ago as fairly refined events organised by women in the insolvency world with a laudable aim of encouraging women in the profession. Over the years (and frankly it didn't take long) they have become seriously boozy affairs starting at 12pm and finishing at 12am. My liver hasn't been robust enough to let me attend one of these since 2004.
What is the most memorable deal you have worked on and why? The restructuring of Teeside Power. This deal kept me busy for nearly five years, involved a huge range of issues and challenges and gave rise to significant roles in the restructuring of British Energy and Enron. It was full of new and difficult problems and involved a substantial team of individuals who worked very well together, allowing us to develop strong and enjoyable personal relationships. And it had a great outcome for our clients.
Favourite item of clothing? This has to be my suede jacket bought many years ago from a second-hand shop in New York. Sadly, it seems to have shrunk over the years and I now struggle to get it on.
Favourite cheese? The smellier the better.
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