Allen & Overy rising star Richard Browne on the tyranny of hourly billing and the M&A cycle
Why did you become a lawyer?
It was a toss-up between the law and investment banking. I had the opportunity to do a summer placement in the City in a law firm, liked it and it just went from there.
Who has been the biggest influence on your career?
Mark Welling — one of the first partners I worked for and a real gentleman.
What’s your proudest professional moment?
Becoming a partner.
…and worst day on the job?
Packing up my room to leave our
Aside from your own firm, which lawyer do you most admire and why?
Jack McCoy, assistant district attorney, Law & Order — just because he’s cool.
What’s your strongest characteristic… and worst trait?
I can leave my work pressure behind the moment I get on my bike to cycle home. Worst trait — stubbornness, according to my wife (but she’s biased!).
What advice would you give to young deal lawyers starting out?
Remember to leave the office early when you can — there will be plenty of opportunities to prove you can work hard.
What’s the best part of your job?
Working with intelligent and motivated people.
What’s the toughest ethical/moral dilemma your job has ever presented you with?
None that I can remember.
How do you think assistants in your team see you?
Annoyingly hard to get time with.
What most annoys you about the legal profession?
A focus on detail at the expense of the big picture.
A&O banking vs corporate: who would win in a football/rugby/cricket clash?
It depends who managed to get Boyan Wells to play for them — he always seems to make a hundred in the staff versus partners cricket matches.
If you could change one thing about the profession, what would it be?
A change from hourly billing to value billing. I think the idea that you should be paid more for doing something more slowly is unsustainable.
What’s your strongest card — technical wizardry or smooth client skills (you can only pick one)?
Smooth client skills.
What misconceptions do junior lawyers have about the firm before they join?
Not many — I think junior lawyers are pretty clued-up these days. They think A&O is a great firm and it is.
What’s the worst corporate event you’ve ever attended?
Sorry, but I tend to avoid them generally.
Most memorable deal you ever have worked on and why?
Possibly because it is fresh in my mind, but the three-way break-up of Emap. It was legally and commercially challenging, they were terrific clients to work with and the shareholders got a great result.
What will be the most significant market trend in terms of your practice area over the next 12 months?
Innovative financing structures in M&A deals.
Do you see yourself having a career outside law?
Yes, definitely.
What would be your motto?
Enjoy what you do.
What’s your favourite item of clothing?
My watch, which was a gift from my father.
What’s your favourite cheese?
Cheddar — I’m a