Dealmaker: Mark Vickers
One of the City's best-known leveraged finance lawyers, Mark Vickers made his name as head of acquisition finance at Dibb Lupton Alsop before joining Ashurst in 1999
June 21, 2006 at 08:03 PM
5 minute read
One of the City's best-known leveraged finance lawyers, Mark Vickers made his name as head of acquisition finance at Dibb Lupton Alsop before joining Ashurst in 1999
Who has been the biggest influence on your career?
My father instilled in me the basic virtues of common sense, patience and determination. As a law student, I was fortunate to meet Lord Denning, who was a great inspiration. Stuart Middleton at Bank of Scotland and Leith Robertson at the Royal Bank of Scotland were reckless enough to trust me with their deals in the early stages of the development of the leveraged buy-out market and my partners Geoffrey Green, Charlie Geffen and Nigel Ward have been pillars of wisdom.
What is your proudest professional moment?
I really enjoy the business-building aspects of my job. Bringing on junior partners and associates is a crucial part of my role; seeing them winning work, succeeding with clients and being instructed directly are the professional equivalents of my 'proud father' moments.
… and worst day on the job?
At the end of my second week in articles, I was accused by my principal of having lost a file of correspondence on a long-running matter that dated back to 1947. The principal starkly declared: "If you have lost that file, laddie, your career in law is finished!" I was convinced I had given the file to my principal. For three days, the whole office was turned upside down as everyone looked for the file. As people passed me in the corridor, no-one could look me in the eye. The file was found under the partner's chair. No apology. But I still had a career.
Aside from those at your own firm, which lawyer do you most admire and why? There are so many hugely talented lawyers in leveraged finance and private equity: James Johnson, Mark Stewart, James Baird and Matthew Layton at Clifford Chance; Gideon Moore at Linklaters; Charles Martin at Macfarlanes; Alastair Dickson at Dickson Minto and Mike Francies at Weil Gotshal.
What is your strongest characteristic?
Being able to get the best out of others.
… and worst trait?
Reminding my secretary, Sue, to do things when she has already anticipated and done them.
How do you think your assistants view you?
I have always tried to build a team ethos based on an open style of management and I would like to think they view me as someone who leads by example and cares about each of them as individuals.
What advice would you give to young deal lawyers starting out?
Make sure you have fun. In increasingly competitive and brutal markets, keep at the forefront of developments by learning from those who have more experience. And don't chase the lure of the dollar!
What most annoys you about the legal profession?
Over-inflated egos, which undervalue the contribution of others.
Work/life balance: fluff or serious issue?
Clients are more demanding. Deals are more complex. Timescales are shorter. Pressure is increasing. Weekends are not your own anymore. The fun factor is thinner. The cost in personal terms can be significant. Yes – it is an issue!
What is your favourite vehicle and why?
My Saracen Armoured Personnel Carrier. A fantastic vehicle to drive – huge fun. It weighs 12 tonnes, it's perfect for town or cross-country. Seats 10. Perfect family wagon. My daughters love it.
What will be the most significant market trend in terms of your practice area over the next 12 months?
In leveraged finance, there will be a smaller number of transactions (albeit bigger ones) and so competition for deals will be intense. Because of this, there will be shorter transactional deadlines, more failed bids, more pressure and tighter fees. So more of the same!
What would you do if you were not a lawyer?
Flying helicopters on behalf of a charity, ferrying aid and key workers to remote communities in need.
What is your favourite lawyer joke?
A trainee, an associate and a partner of a large firm are walking down the street when they spot an antique oil lamp discarded on the pavement. They accidentally rub it and out pops a genie in a puff of smoke. "Your wish is my command. As there are three of you each of you can have one wish," announces the genie. The trainee blurts out, "I want to be in Mustique sipping cocktails by the pool." Poof! The trainee was gone. The associate, excited by events, stammers, "I want to be playing golf in Las Vegas with Tiger Woods." Poof! The associate was gone. "You're last," the genie says to the partner, "What is your wish?" The partner replied, "I want those two back in the office after lunch!"
What is your favourite cheese?
In winter, a creamy blue Stilton from Paxton & Whitfield with a vintage port. In summer, a slice of Brie de Meaux with a fresh baguette, a bottle of Brouilly and a lazy afternoon.
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