Dealmaker: Peter Astleford
Dechert funds heavyweight Peter Astleford on keeping things simple and thinking like a client
August 06, 2009 at 03:50 AM
4 minute read
Why did you become a lawyer? I had planned a career in business but took 'A' level law as an additional subject for fun. I had an inspired teacher who gave me a feel and interest for the law for which I will always be grateful. I will never forget her name (Frieda Cat). It is hard to believe, but her husband's name really was Ivor.
Who has been the biggest influence on your career? Paul Harris of Linklaters (now retired). Clients loved how he made what appeared to be esoteric and technical seem simple.
What's your proudest professional moment? It's a tie between travelling on Concorde to be on the floor of the NYSE for the first trading in BA shares and, years later, winning my first client as a principal in private practice after a spell in industry. It was a minor debt collection for a small printing company.
…and worst day on the job? Probably every day in the office when I've spent the previous night on a plane qualifies… there seem to be have been a lot of these 'worst days' over the last four years!
What's your strongest characteristic… and worst trait? My strongest characteristic is probably my ability to think like a client without trying (it can be a useful talent). My worst trait must be my impatience that every job is not immediately perfect as I think the client would like it.
Outside your own firm, which lawyers do you most admire and why? In the financial services and funds world, it is frequently the case that there are no other English or US law firms on a transaction. However, David Whittome at Walkers has first-rate business understanding and a quick ability to see the point. Tim Shipton at Linklaters has a great ability to bring good humour and common sense to every situation. Nick Aspinall, the GC for Cambridge Place, has energy and enthusiasm that's second to none.
What advice would you give to young deal lawyers starting out? Put yourself in the shoes of every other person (client and lawyer) on each deal or transaction. You will learn much more quickly and boredom will be far more rare!
What most annoys you about the legal profession? The inability of many lawyers to understand what their role is and why clients use them. The good and bad news is that more lawyers are becoming smarter about this.
What's your strongest card – technical wizardry or smooth client skills? My strongest card is to make things look simple for a client.
What's the worst corporate event you've attended? A 'sub-event' in Portugal involving a treasure hunt outside Lisbon lost the interest of our entire team. After we all acknowledged that we were much more interested in our own phones and blackberries, we abandoned the hunt and headed back into town.
Most memorable deal you have worked on, and why? I was working on a reconstruction of a fund complex and we went to Dublin for a string of shareholder meetings. The large and reputable Irish administrator seemed to have pulled out all the stops. Afterwards, I complimented the lady in charge for how she had gone the extra mile for our mutual client. She said: "We've never seen real in-person meetings before so decided to make it a major training exercise for the office".
Do you see yourself having a career outside law? Most definitely, although its direction could surprise all but my closest friends!
What is on your ipod at the moment? When I ever have a spare moment, I suspect it will be a language course. In the meantime I confess that both ipods I've been given have been taken by the kids.
Favourite cheese? Any cheese grilled on toast; accompanied by a robust glass of red and no commitments or telephone calls for at least an hour.
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