6 months ago
PwC’s Legal Banking and Finance team are a sub-team, sitting within the wider Legal Corporate practice, who focus on advising borrowers on the negotiation of various types of new bank finance both in the context of M&A/PE/ Property deals and the restructuring and the re-financing of existing facilities, including all security and hedging documentation. They also frequently assist with the documentation of bank facility financial covenant re-sets, the waiver of covenant breaches (and conditions attached) by lenders and amendments to facilities to reflect the changing business and financial standing of borrowers.
The team work closely with the Corporate team's solvent restructuring specialists to assist with reviews of bank facilities and security to identify issues and any consent requirements and also regularly advise clients on the documentation of intra-group loans, guarantees and security. This has historically proved to be a successful route into new clients which enables the team to develop on-going relationships with those clients post-restructuring.
The team also provide specialist advice as well as advice on various niche areas such as setting up in-house banks/treasury companies, cash pooling/cash management offerings by banks as well as cash pooling arrangements within corporate groups.
Having previously focused on real estate finance and general banking transactions, the team are keen to focus on and build their leveraged finance offering, working closely with PwC’s PE and Debt Advisory teams to seek to bolster that practice.
Our clients include numerous privately owned property companies and property investors, funds, mid-tier national and in-bound businesses and start-ups in all industry sectors, high net worth individuals and various large multinational banks and other financial services businesses.
The PwC Legal Banking and Finance team are often involved projects alongside the PwC’s Legal Corporate practice, other legal teams within PwC as well as Tax, Audit, Consulting and Deals specialists in PwC and the PwC Legal global network firms, from whom there are frequent referrals.
Who we're looking for
We are looking for a newly qualified lawyer with some experience (at trainee level) of general banking and finance, corporate and/or other deal based work to join this busy, friendly team and help support the continued expansion of the team. The role will be based in London at our Embankment Place office.
Like the rest of our team, we expect the person in this role will enjoy an interesting and challenging workload. We work on a wide range of projects across the specialisms covered by our group; most of our projects involve understanding and applying technical areas of law in detail. A large proportion of our work is carried out alongside non-lawyers in PwC such as tax and deals advisers. Not only does this give us access to projects that other law firms don't see, but it has helped our lawyers develop a deeper understanding of business issues and the commercial context for our advice. Unquestionably, PwC is one of the best known businesses in the world; the PwC brand attracts top tier businesses and many of our clients are household names.
Our Banking and Finance team is currently small; the successful candidate will join 3 qualified lawyers plus a trainee focusing on Banking and Finance work with the support of over 11 partners and 40 other fee earners in the wider Corporate Team, of which the Banking and Finance team currently forms part and is very closely linked.
PwC has aspirations to continue growing its Legal offering and the growth of the Banking practice is a significant part of these plans.
Being a small and busy team, there is a variety of work and there is the opportunity to get involved in technically challenging projects for high profile clients in a meaningful way where you are valued and given responsibility within a suitably supported learning framework. The successful candidate(s) will be energetic, enthusiastic and keen to embrace the challenge of turning their hand to many different types of corporate work rather than doing similar deals time and time again. The nature of working so closely alongside professionals in PwC's various teams across London and the regions, as well as worldwide, leads to an incredibly diverse range of work that the team is asked to assist with. –We also have team members out on secondment to high profile clients in the UK and overseas. A high level of technical competence is expected as well as knowledge of the mechanics of corporate transactional work.
Each member of the team is encouraged to develop relationships with clients and with the professionals in PwC with whom we work on a daily basis. You will be expected to run certain smaller matters under the supervision of one of the the senior fee earners in the team and draft security documents and deal with conditions precedent.
Organisational skills, attention to detail and proactivity will therefore be key attributes. A desire to network and build relationships within PwC and with clients is also important.
The following skills are required for this role:
Newly qualified solicitor in England & Wales or equivalent common law jurisdiction.
Excellent academic background.
Have some experience (at trainee level) of banking and finance, corporate and/or other deal based work
An interest in working in a variety of banking and finance practice areas
Well organised and proactive.
Ability to work in a small, close-knit niche team to meet deadlines
Primarily a team player but also able to work under own initiative.
Clear, articulate and confident in written and verbal communication skills.
Strong IT skills
Experience of initiating and getting involved in business development activities