Sidley structured products partner and tragic Wolves reject Matthew Dening counts the 'colleague cost'

What's the closest you have come to doing something other than law? In November 2004 I applied for the job of manager of Wolverhampton Wanderers. I received a same-day response from the chief executive (who I had been helping out with something) suggesting that my talents would be better directed towards the law. I have the framed letter in my office.

What's your worst day on the job? Leaving Baker & McKenzie was very difficult. I had been there since I was a trainee. Although I have not regretted the decision and it was definitely right for me to move on, I still feel guilty. Having said all of this, I am reliably informed that I am not missed.

Aside from your clients, which business figure do you most admire and why? I have always been a fan of self-made people. One of my relatives is one such person. He built a business from very little and sold it at the peak of the market. He is a complete hero of mine. Sadly, his entrepreneurial skills do not run in my blood.

Has the recession changed the face of the legal profession? Firms that focused purely on areas of business that have almost disappeared have learned a painful lesson. The recession emphasised the need for firms to have a diversified practice. We are there in the US and getting there elsewhere.

To what extent do you think the legal profession needs to change over the next 20 years? I would like to see more lawyers leaving private practice to work for regulators and government for a few years and then returning to private practice. A number of my partners in the US have done this and I wish that it was a more common practice in the UK.

What's your motto? Like many I am hoping that Wolverhampton City Council's motto 'out of darkness cometh light' turns out to be true.

Most memorable deal you have worked on and why? When things were turning nasty for the UK banking system, a team of Sidley Austin lawyers worked on a transaction that, had it not occurred, would have made the UK credit crisis a great deal worse. It was completed in difficult circumstances and is the hardest that I have ever worked in a four-week period. As with most deals, the lawyers only played a small part in making it happen but this is one that I am pleased to have been involved with. Who knows, even Lord Turner may have considered it socially useful.

What most annoys you about the banking profession? A number of their TV adverts.

What is the daftest bit of corporate jargon you've heard (and did you smirk)? I attended a presentation recently where someone described the costs of a redundancy programme as 'colleague cost'. I thought that it was appalling and certainly didn't smirk. A helpful member of our marketing team insisted that I make clear that this comment was made by a person not affiliated with Sidley Austin or any of its associated partnerships. I am happy to do so.

What's your favourite fictional representation of a lawyer and why? Either of my daughters impersonating their dad on a weekend conference call.

Who has been the biggest influence on your career? As a trainee at Baker & McKenzie, Schuy Henderson who, through a great deal of cigar smoke, taught me all I know. Since joining Sidley, while I have visions of a number of my partners reaching for the sick bag as they read this, Graham Penn who has amused and mentored me in equal measure.

What's your favourite cheese? The West Midlands doesn't really do cheese.

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