Dealmaker: Richard Macklin
Dentons co-head of corporate Richard Macklin on bizarre jargon, burning offices and stacking shelves
November 04, 2009 at 06:08 AM
4 minute read
Dentons co-head of corporate Richard Macklin on bizarre jargon, burning offices and stacking shelves
What's the closest you have come to doing something other than law? One of our larger retail clients asks us every year to stack shelves in their stores during the Christmas rush. I've done that a few times but it hasn't tempted me away from the day job.
Who has been the biggest influence on your career? Too many to mention – some have been older, some have been younger, all have been wiser. One was an assistant I'd been working with for a few years in the middle of my career. She was very straight with me about everything I was getting wrong. Another was Hugh Crisp (then with Freshfields Bruckhaus Deringer). I did a deal with him very early in my career and I learned that how right someone is about a point is usually in inverse proportion to the aggression used to make it.
What's your proudest professional moment? Qualifying at the Paris Bar.
…and worst day on the job? The day the Paris office burnt down – literally – in 1997. It was while I was working there full-time and the team was working into the small hours preparing a closing. I'd left before the last of them and was woken up at 5am by a call saying the whole place had just gone up in smoke. When I got there we didn't know if everyone had got out. Very luckily, they had.
Aside from your clients, which business figure do you most admire and why? Bill Gates – I'm not a great fan of his products but I like what he's doing with the money.
What's the best book you've ever read on business? One of the first: How To Read The Financial Pages by Michael Brett.
What's the worst character trait of the archetype commercial lawyer? An inability to perceive wood in the vicinity of trees.
Has the recession changed the face of the legal profession? I don't think the way we deliver the service will change as radically as many commentators have suggested. However, on the management side, a lot of the inefficiencies and excesses in the business model have probably been squeezed out for good. The market demand for focus on value rather than cost is here to stay.
To what extent do you think the legal profession needs to change over the next 20 years? In 20 years, the shift of power to the strongest emerging economies will be complete and, in order to survive, all parts of the market will need to become global: premium, mid-market, commodity and even niche areas.
What most annoys you about the banking profession? Calling interminable conference calls at seven minutes' notice.
What's your strongest card – technical wizardry or smooth client skills (you can only pick one)? I certainly don't claim to be a wizard, but whatever my client skills, I hope they're using me because they think I'll get it right.
What's your motto? It's only money.
What's the worst corporate event you've ever attended? Every event that's been on a boat or involved karaoke. Both are happily now out of fashion… or have I just stopped going to them?
What is the daftest bit of corporate jargon you've heard (and did you smirk)? "Forgive me if I'm talking beyond my headlights here, but…" None of us knew what it meant but we were all pretty sure that he was doing it. If I smirked, I hope it was on the inside.
What will be the most significant market trend in terms of your practice area over the next 12 months? A huge recovery in the M&A market. Trust me!
What's your favourite cheese? Vacherin.
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