Dealmaker: Mario Jacovides
Allen & Overy's global head of structured and asset finance on koi carp and novelty Christmas toys...
August 03, 2010 at 06:55 AM
4 minute read
Allen & Overy's global head of structured and asset finance on koi carp and novelty Christmas toys
What's the closest you have come to doing something other than law? My love of animals, studying Biology at A-level and breeding birds and fish (I have over 50 birds in two large aviaries, 65 fish including koi in a large pond, an assortment of marine fish and tropical fish in two aquariums and sea turtles in another aquarium) is not what you would expect from your typical lawyer and I came close to choosing to become a vet in my earlier years at senior school.
What was your worst day on the job? As a trainee I was sent to Chicago for an aircraft closing by myself (very trusting partner!) with two suitcases full of documents to be signed which had to be checked in to the hold of the aircraft due to their volume. It was imperative the signing took place the next day to meet the delivery schedule and the parting words of my supervising partner were "don't worry, nothing will go wrong". When I arrived in Chicago I found my documents had not arrived with me and ended up at JFK airport in New York. Arriving at the closing meeting with no documents was incredibly embarrassing. We had to fax all the documents through overnight and when they eventually all came through, downtown Chicago experienced an unexpected power surge that turned off all the lights in the city for what seemed like eternity.
Who has been the biggest influence on your career? My father. He always wanted to be a lawyer but did not have the money to study and qualify into law. He came home one day with a box full of law books and thought I might like to read some of them!
What's the best business book you've read? Success Intelligence by Dr Robert Holden. Robert has attended several of our partnership off-sites and is always a hit.
Aside from your clients, which business figure do you most admire and why? Lord Alan Sugar. From humble beginnings he has an estimated $1bn fortune. I admire his directness and love The Apprentice – compulsive viewing.
To what extent do you think the legal profession needs to change over the next 20 years? If the growth in IT in the last five years is anything to go by, quite a lot. We did not have email, BlackBerrys, video conferencing or even flatscreen computers when I qualified into law. The old system of charging by the hour has a limited shelf life and more innovative ways for recognising and paying for value-added services needs to be recognised and implemented globally.
What's your motto? Marketing today is work for tomorrow.
Most memorable deal you have worked on and why? Acting for Spain's flag carrier, Iberia, on Iberbond 2004. After many late nights the deal closed on Christmas eve and we were taking deliveries of the aircraft throughout the night. I brought in an assortment of singing Christmas toys and played a different one at each closing conference call when the relevant aircraft was in the right location for closing. By that stage everyone was getting into the Christmas spirit and waiting to hear what the next song would be.
What annoys you about the legal profession? Criminals getting away with lenient sentences or, worse, suspended sentences.
What is the daftest bit of corporate jargon you've heard (and did you smirk)? 'Let's do a round robin'. I have no idea what my love of birdkeeping has to do with law.
What's your favourite cheese? Has to be Greek halloumi, on the grill or, even better, on the barbecue.
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