Dealmaker: Mark Soundy
Weil Gotshal buyout veteran Mark Soundy on keeping it in the family and why you can't trust a banker
September 29, 2010 at 07:48 PM
4 minute read
Why did you become a lawyer?
I saw how much pleasure being a lawyer (at Ashurst) gave my dad – and he did a pretty good job of hiding any pain (until it was too late).
Who has been the biggest influence on your career?
Apart from my wife (who has always called the shots), Nigel Campion-Smith at Latham (a truly brilliant lawyer) and Chris Hale at Travers (a fantastic mentor).
What's your proudest professional moment?
Idly checking a solicitors directory some time around 1995 to see how many Soundy solicitors there were in the UK and finding there were three: my dad, my wife and me.
Aside from your own firm, which lawyer do you most admire and why?
Matthew Layton at Clifford Chance. He's still the best in the private equity business and has been for years. And, irritatingly, he's also a really nice guy and always a pleasure to deal with.
What's your strongest characteristic… and worst trait? Single-mindedness… which tends to make me very selfish.
What advice would you give to young deal lawyers starting out?
Learn to be chameleon-like when dealing with different colleagues, clients and circumstances. In any negotiation, be sure to listen very carefully. And, of course, read A Practitioner's Guide to Private Equity cover to cover, and then recommend that all your friends do the same.
What's the best part of your job?
Apart from the people (clients and colleagues), it has to be doing deals. We've signed or closed four deals in the last week. That still gives me a kick – that's what it's all about.
What's the toughest ethical/moral dilemma your job has ever presented you with?
Too tough a question for the most honest answer. The Great Storm of 1987 occurred in my first month at Travers Smith. When I eventually made it into the office, I was the only one there and the switchboard in reception was ablaze with incoming calls. Manning the phones, I took a call from a distraught gentlemen. He was at a crematorium and on the verge of despatching his recently deceased mother, but his sister was now screaming and shouting that their mother had wanted to be buried, not cremated. He asked me urgently to find the will, check what it said and call him back. In the office chaos that day, I couldn't find the will or anyone to advise me what to do. So I took a deep breath, called him back and told him what I thought his mother would have wanted me to say…
What most annoys you about the legal profession?
Lawyers who forget that it's our clients who do the deals, not us.
What's your strongest card – technical wizardry or smooth client skills (you can only pick one)?
One of my clients once characterised me, in a legal directory, as having a marvellous bedside manner, which amused my then partners as much as it did him.
What is the daftest bit of corporate jargon you've heard (and did you smirk)?
'Trust me'. (Every time).
What will be the most significant market trend in terms of your practice area over the next 12 months?
Enough deal doing – I hope – to be described correctly as a market trend.
Do you see yourself having a career outside law?
No. When I left Travers Smith, I had about five months off. During that time, my wife and I talked about career alternatives. They all sounded fabulous. But the sad truth finally dawned on both of us that the only job I can possibly do is to be a private equity lawyer – thank goodness it pays.
What's your favourite cheese?
Stichelton, eaten with a Dorset Knob.
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