With the 29th March fast approaching, the dreaded B-word is just around the corner. At first, we weren’t sure how our In-House Financial Services team would fare in the midst of so much uncertainty. However, last year turned out to be our busiest in the last decade and our In-House Financial Services team remains busy with no signs of things slowing down. Despite Brexit uncertainty, companies ultimately still have work to do and lawyers are needed to manage business as usual, as well as provide strategic advice on potential reform around the corner.
One thing that has become apparent in recent years, is the increasing number of options open to lawyers within the financial services sector. When one thinks of the types of in-house opportunities available to a banking lawyer, for example, often the first thing to spring to mind is a traditional finance role at one of the major banks. Whilst that very much remains an option, we are seeing a variety of other companies, from asset managers and funds to start-ups and FinTechs, many of which wouldn’t have existed 10 years ago, competing for people with the same skill sets. Never before have financial services lawyers had so many possibilities!
Furthermore, the role of a lawyer in-house has changed dramatically. The stereotypical, back-office legal role, separate from the business and focused on mundane, ‘box-ticking’ work has largely become a thing of the past. Now, it’s common to see legal teams that are integrated with the business and the lawyers are seen as genuine commercial partners, who are involved in making key, strategic business decisions, not just brought in at the last minute to sign off (or block!) things.
As well as being a go-to subject matter expert, in-house legal counsel are seen as a valuable resource to provide high-level strategic and commercial advice to the business. Nowadays, more banks are even offering opportunities to either second or transition to other areas of the business.
Recently, we have been hiring for lawyers from a range of practice areas including Commercial/Tech; Data Protection; Employment; Corporate; Banking & Finance; Capital Markets and Structured Finance. We are currently working on various opportunities at a range of seniority levels.
If in-house might be of interest and you would appreciate a confidential discussion about the market, feel free to get in touch. Even if you’re not looking to move now, I’m always happy to discuss your plans for the future.