Dealmaker: Farmida Bi
Norton Rose Fulbright's European head of Islamic finance on politics, procrastination and forced fun
February 20, 2014 at 05:48 AM
4 minute read
Norton Rose Fulbright's European head of Islamic finance on politics, procrastination and forced fun
Why did you become a lawyer?
I had a eureka moment at the age of 13 that I should become a lawyer. I enjoyed debate and wanted to help people and, while as a securities lawyer it is not obvious that I have achieved my ambition, I feel what I do is worthwhile.
Who has been the biggest influence on your career?
My father. He believed in me and encouraged me.
What's your proudest professional moment?
Becoming a partner.
… and worst day on the job?
In the 1990s I worked on the initial public offerings of several dotcom companies. In April 2001 it felt as if I was part of it when the dotcom bubble burst. At the signing ceremony for one deal we found that not only had the bank failed to find enough investors, but those investors who had signed up to the deal had also walked away.
Aside from your own firm, which lawyer do you most admire and why?
The fictional Horace Rumpole, who believes that fundamental liberties should apply to everyone.
What's your strongest characteristic… and worst trait?
Persistence – I just keep going. My worst trait is procrastination. I find it hard to get things done if I don't have a deadline.
What advice would you give to young deal lawyers starting out?
A lot of young lawyers I meet have very fixed ideas of what they want to be and the area of law they want to practice. My advice is don't be too narrow in your ambition as you don't know where a client matter or deal may take you.
What's the best part of your job?
How international it is and how much and how quickly my particular practice area changes.
What most annoys you about the legal profession?
It is still made up of quite a narrow demographic – we need more senior women and people from different socio-economic backgrounds to reflect our clients and the real world.
What's your strongest card – technical wizardry or smooth client skills (you can only pick one)?
My ability to get on well with clients. Legal knowledge is the product we sell as lawyers and technical skill is crucial, but clients tend to select the lawyers who best understand their needs and who they can work well with.
What's the worst corporate event you've ever attended?
I'm generally quite unenthusiastic about enforced jollity.
Most memorable deal you have ever worked on and why?
Advising the Pakistani Government on its debut bond issue. I was born in Pakistan and it felt like I was making a difference, helping the country to access the international capital markets.
What is the daftest bit of corporate jargon you've heard (and did you smirk)?
Like Rumpole, I'm not keen on the increasing corporatisation of the legal world, which includes using consultancy speak.
What will be the most significant market trend in terms of your practice area over the next 12 months?
There are two. The economy appears to be picking up and there are many more new deals coming to the market. The second is that the UK Government's Islamic bond is likely to result in a resurgence of Islamic finance in the UK and in Europe.
Do you see yourself having a career outside law?
I am very interested in politics. If I believed in professional politicians, which I don't, I might have become a political researcher or gone to a think tank.
What's your favourite cheese?
Montgomery's Cheddar. Not very original but fantastic on toast.
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