Dealmaker: Freshfields' Tim Wilmot on managing egos, getting towels for a client and his long-haired indie past
The magic circle corporate partner on his most admired lawyer, worst day on the job and favourite late night eateries
May 14, 2018 at 05:14 AM
5 minute read
Freshfields Bruckhaus Deringer London corporate partner Tim Wilmot recently advised Sky Betting and Gaming and its majority owner CVC Capital Partners on its sale to to Canadian betting company Stars Group. Other recent deals he has been involved in have included advising US private equity company Hellman & Friedman on its $5.3bn (£3.9bn) takeover of Scandinavian payment service provider Nets last year.
Why did you become a lawyer? By accident. I actually wanted to do something more creative or interesting – like a script writer or a film editor. But no one wanted to give me a job (or, at least, not one that I wanted). So I went to law school because I thought a law qualification would be a useful addition to my CV – and, of course, it meant I could put off any real decisions for a couple of years. And then it turned out that I loved it.
Who has been the biggest influence on your career? Although they probably don't know it, my parents. There were no lawyers in the family, but they gave me a bit of guidance when I was dithering about a career ("What about being a lawyer? They never seem to be out of work.") and then gently supported me along the way, whatever ups and downs came along. Although they still can't understand why we sometimes have to work all night.
What's your proudest professional moment? Making partner. The long-haired indie kid would never have believed it.
…and worst day on the job? Being bounced into a big meeting, after very little sleep, and having to explain or justify each line of a half-drafted contract which was full of internal footnotes and negotiating positions. Awkward.
Aside from your own firm, which lawyer do you most admire and why? I spent a few years working with Chris Howard (now at Sullivan & Cromwell), who taught me a lot. Not only is he a fantastic restructuring lawyer, but he understands what different people bring to the table and uses their skills in symbiosis with his. And he knows what client service really means.
What's your strongest characteristic? You might get a different answer if you ask the team. But I'd say one strength is my ability to blend the legal detail with understanding what's really going on. You've got to know what you're talking about, but layering on what everyone else is talking about makes it much more powerful.
And worst trait? Despite what I've said above, I quite like a good old-fashioned technical argument from time to time.
What advice would you give to young deal lawyers starting out? Be yourself. There can be a lot of egos on a transaction, but at the end of the day it's getting along with people that gets things done. And don't rush through your career. It's a long and very rewarding one, but the building blocks are crucial so you can't neglect these by being in too much of a hurry to get to the next phase.
What's the best part of your job? The people. Without question. We get to meet and work with such a talented bunch of people on a daily basis, whatever role they have and whichever party they are working for, and we kind of take it for granted. I learn something from the people I work with on every single deal.
What most annoys you about the legal profession? People who forget how to do the job, and forget that they are doing it for the client. Sure, the role is constantly changing (that's the fun of it), but you've got to retain the ability to get the basics right, and remember that it's about delivering what the client wants. You can't just rely on being the loudest voice in the room and using it to get what you want.
What's the most unusual/shocking request you've ever had from a client? Apart from the one which goes: "Can't we just backdate this?" We had to make sure some particular towels were available for a client once, so they could freshen up at our offices after getting off a long flight. Shame the showers weren't quite up to the same standard.
Most memorable deal you ever have worked on and why? There have been a few. But the Sky Bet acquisition for CVC is up there. It had everything: multi-layered acquisition, corporate carve-out, long-term commercial agreements, secrecy – and a wicked team.
What is the daftest bit of corporate jargon you've heard (and did you smirk)? The old ones are the best. I still can't bring myself to say that we are going to run something up the flagpole.
Do you see yourself having a career outside law? Maybe one day I will write that script. Either that or I will find a way to make a modest living in the French Alps. Running a ski chalet, maybe.
What's your favourite item of clothing? My ski boots. Loved and hated at the same time.
It's midnight and you're in the office for the night, where's your takeaway from? Assuming I can get in before the kitchen closes, it would be Chi Noodles just off Fleet Street. Or there's a great vegan – yes, really – burger place which delivers. Makes a change.
What are your desert island discs? That's a tough one. If I knew the law like I know the lyrics to records by early 1990s guitar bands, I'd be senior partner by now. The Beatles: A Day In The Life, The Cure: Pictures Of You, Spiritualized: Come Together, Stone Roses: I Am The Resurrection, Suede: The Drowners.
Favourite boxset? The original series of 24.
What's your favourite cheese? Beaufort.
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