Man-about-town finance wunderkind and Man Utd nut Maurice Allen also finds time to co-head White & Case’s City banking and securities team
Why did you become a lawyer?
It might have been the search for truth and the desire to help my fellow man, but the newspaper cuttings my dad gave me showing what lawyers were earning had an influence. Oddly, it was probably because I thought law would be interesting; I now realise that the law has very little to do with the job.
Who has been the biggest influence on your career?
Definitely the banking partners I grew up with at Clifford Chance (CC). They taught me how to build clients and share them with others, that the job of a partner is to build careers for others and that the job should be fun. More recently, my co-head of banking and capital markets, Mike Goetz, has taught me the value of occasionally reading pink newspapers even if they don’t have sports reports and I, in return, have taught him the difference between a top-spinner and a googly.
What’s your proudest professional moment?
Becoming a partner really mattered; in fact, it probably matters too much. I certainly never underestimate the significance for our associates. As a result there is a lot of vicarious pleasure in seeing lawyers you have worked with building successful careers and building market reputations.
… and worst day on the job?
It could have been when I was asked to clean the desk of one of the partners at my first firm in
What will be the most significant market trend in terms of your practice area over the next 12 months?
The increasing trend towards the blurring of the banking and securities markets. Alternatively — and hopefully — it will be the decline of ‘glory boy’
Aside from your own firm, which lawyer do you most admire and why?
All lawyers who realise that we are not the point of the transaction but there to help get the deal done. They know who they are!
How do you think assistants in your team view you?
The fond hope is that they think I am on their side and that I understand what a really difficult and demanding job this is (although no one exactly forces us to do it and the rewards are great). I think they believe me to be fair, loyal and eternally grateful to them for being the main reason that we have built a world-class finance practice in just seven years.
What most annoys you about the legal profession?
An inability among lawyers to app-reciate what really matters, away from transactions the failure of partners to appreciate that loyalty should go two ways and that we are very fortunate people who owe our clients and staff a lot for the privileged and interesting lives that we have.
What advice would you give to young commercial lawyers starting out?
Don’t be scared to have a view — the borrower is your client’s client, so don’t view them as the enemy. As Keith Clark (former CC senior partner) told me in my first week, the great thing about our job is that nobody gets killed, so have a sense of perspective.
In one sentence — why should the ambitious young lawyer join White & Case?
There are very few opportunities to be part of building a firm and one where your views and attitudes will shape the style and ethos of that firm.
What’s the best part of your job?
It sounds trite to say the people, but it is. I have enjoyed helping to build a very diverse group where I believe everyone feels they have a fair chance. A lot of people talk about this, but very few firms deliver.
… and the worst?
Filling in timesheets.
Have panel reviews taken all the fun out of being a high-flying banking partner?
At the risk of getting thrown off a few, I think there is a risk of the tail wagging the dog with panels. Some firms use them to entrench an incumbent position. They were originally about creating competition and a mutual loyalty and understanding. I think some of this has been lost.
What’s the secret to winning work from an investment bank?
Perseverance, and an understanding that eventually you will get a chance. Once you have the business it is about being aware of what the client’s needs are and meeting them. Personal commitment matters at a time when firms sell brand and the talent is spread thinner than you imagine. Once a base has been established the client becomes very interested in the quality of the associates and an ability to deliver.
What’s the worst bit of finance jargon you’ve ever heard and did you smirk?
PIK Toggle was a recent one, covenant-lite is another. It is only finance lawyers who would need 10 lines to define ‘month’, although I always thought we were ahead of our time in recognising that the masculine includes the feminine and the singular includes the plural.
What’s your biggest extravagance?
Perhaps the private jet or the
…and biggest regret?
Not marrying someone whose family is from the
Glazer owning Man U — tragedy or what?
Glazer is a shocker. The fans missed a trick in not getting a blocking position when we floated. Now, if he succeeds, he sells to Glazer Mark 2, and ditto if he doesn’t. Fortunately, I can watch highlights of FC United of
What would you do if you weren’t a lawyer?
Definitely a teacher. I come from a family of teachers and was always impressed when for years my dad would be visited by former pupils thanking him for the opportunities he gave them.
What’s your favourite lawyer joke?
Q: What's wrong with lawyer jokes?
A: Lawyers don't think they're funny, and no one else thinks they’re jokes!
What’s your favourite cheese?
The baby cheeses I used to steal from my children when I was feeling peckish!