The Corporate Dealers

It has become fashionable for many young litigation lawyers to turn to corporate work after a few years in litigation practice. The stress of court work is often cited for the shift. As a result, the ‘inferior cousin’, the litigation bar, has been faced with a shrinking pool of lawyers.

Corporate law practice is seen as a stepping-stone to cushy in-house legal positions. Is corporate law practice better than litigation practice?

To me, a litigation lawyer gets satisfaction from helping his client to solve his problems. What about the corporate lawyer? Corporate law deals with commercial issues of the day. It poses complex and challenging issues and is financially rewarding. The corporate lawyer’s clients consist of businesses and companies. The clients’ objectives and policies change constantly.

Kevin Wong of Linklaters Singapore, Jason Toh of M/s Ho Wong  & Partners, and two female corporate lawyers (whom I shall call Jennifer and Leng respectively, to protect their privacy) shared about their careers. Below is a compilation of a day in 
their lives.

The Cross-Border Communication

It was seven in the morning. Kevin Wong was in the Don Muang Airport in Bangkok waiting for a flight back home. He settled himself in the lounge and switched on his laptop. He was lost in a flood of e-mails when he heard someone calling his name. He looked up and saw a slim man of medium height smiling at him.

‘Do you remember me? I’m Jason Toh. We worked on a corporate deal together a couple of years ago.’

‘Oh, yes. I remember. How are you?’ Kevin asked.

‘Good. Actually I returned to litigation practice after we closed that deal.’

‘I see. Weren’t you a litigation lawyer before you became a corporate lawyer?’

‘Yes, I did general liti for about five years before I switched to corporate. After two years of corporate work, I went back to liti again. I missed litigation, the adrenalin pumping moments in court and the varied work and excitement. Actually, I went into corporate work just to find out what it is like. Also, I wanted to work with big clients, be involved in significant corporate deals and make decisions on their behalf.’

‘So you are one of those who think that corporate work is full of excitement and glamour,’ laughed Kevin. ‘There are many lawyers who think like that. After a while, it’s not so cool working late nights, being holed up in windowless meeting rooms, spending endless time in airports and long conference calls.’

Jason smiled. ‘I heard you have been practising corporate law since you qualified.’

‘Yeah. It was all due to circumstances. Corporate law 
found me.’

‘Very few people, I know, have worked for the same firm from day one. That’s unusual in our line.’

‘Linklaters kept me busy enough and relocated me often enough that I never had the time to think about changing jobs. I also probably lack imagination!’ said Kevin with a laugh.

‘Well, you have done well for yourself, Kevin, the youngest managing partner to head a Linklaters national office. You have worked in London, Hong Kong and Shanghai.’

‘It’s nothing but hard work, hard work and more hard work,’ Kevin replied matter-of-factly. ‘Did you enjoy corporate work, Jason?’

‘As a junior lawyer, I was put in the backroom – to pore through agreements, consider clients’ instructions and make suitable amendments. The work was too specialised for me – all I did were agreements of all kinds: shareholders, joint ventures and share subscriptions etc,’ he said, rolling his eyes. ‘What drives you to keep working like this?’

‘I like what I do,’ replied Kevin emphatically. ‘It is interesting and challenges me physically and intellectually. The client is looking for more than just lawyers; they need business partners. I want to do the best for my clients, whether they appreciate it or not.’

‘You know, Kevin, what really made me leave corporate practice was my baby. I had little control over my time. The long gruelling hours kept me away from my family.’

‘I agree. I wish I had more time for my long suffering wife who loves me far more than I deserve and my two young children,’ Kevin said wistfully. ‘But sacrifices have to be made. That comes with the territory. Isn’t your present litigation work hectic 
as well?’

‘I am lucky that I have more autonomy over my work and time. What’s the secret of your success?’ asked Jason.

‘Good mentors, good clients and good work experience. And not forgetting loads of hard work.’

‘Many of our lawyers dream of working in foreign law firms. Are the perks and welfare benefits really that good in foreign law firms?’ Jason asked with a smile.

‘I don’t know whether we provide welfare in the traditional sense. As a managing partner, staff welfare and benefits are very important to me. We do offer more exciting work and better pay. But our lawyers work as hard, or even harder than their local counterparts.’

Jason paused. ‘What do you do outside of work?’

‘I spend as much time as I can with my children so that they will continue to recognise me! Enjoy food. Spend time on my bike or treadmill... .’

‘Good morning, Mr Wong. Would you like some breakfast?’ the air stewardess tapped Kevin’s shoulder lightly. Kevin awoke with a start. The laptop was in front of him and he was seated in an aeroplane. He looked to his right. There was no one there. He was puzzled. Wasn’t he just talking to a lawyer?

All in a Day’s Work

Jennifer was just completing a teleconference call.

‘Yes, Steve, it’s finally a done deal!’ she exclaimed.

‘Whew! The last two months were the longest of my life! How’s work over at your end?’ asked her American counterpart in San Francisco.

‘The usual – many transactions going on at the same time, tight deadlines, unreasonable clients. Not only do clients want the work done pronto, they always want discounts as well, more so when the deal is aborted.’

‘Yeah, don’t we wish our clients appreciate our work more and set reasonable deadlines,’ added Steve.

‘But you guys are really great transaction managers and I admire the way you make commercial calls for your clients.’

‘Thanks, Jennifer. I have found Singapore corporate lawyers meticulous and very determined to win.’

When the call ended, Jennifer set to work on an agreement that she had to redraft. She sighed. Her associate quite clearly did not understand the client’s needs and had done a cut-and-paste job from a precedent he had found.

Jennifer is a senior partner in the corporate department of a large law firm. Having spent her whole career in corporate work, she is a no-nonsense person at work. She sets exacting standards for herself and her associates. Lately, she has had problems with some of her associates. She asked herself for the thousandth time – What’s wrong with associates nowadays? They just do not work hard enough. Where is the focus, commitment and dedication to their work? They seemed distracted by other priorities. She had concluded that their affluent backgrounds and the many viable career options open to them had made them less committed. She sighed again and started 
typing furiously.

The Right Choice

Dear Kim,

I was really glad to receive your e-mail. So, you are thinking of leaving litigation and switching to corporate? I have been in corporate practice for slightly more than a year now. When I was doing matrimonial cases and commercial claims, it felt like a dead-end job. I don’t think I’m aggressive enough to be a litigator. That was why I moved to corporate work.

The work is interesting. I do mainly corporate banking and corporate commercial work. The clients are high-profile companies. I enjoy the negotiation process. It is so different from litigation. I spend a lot of time going through voluminous documents. I think patience is really an asset in my work! Even the language and style of writing is so different.

In liti, we control the flow of the case. In corporate, it is the client who calls the shots. The lawyers on the other side are friendlier. However, the clients are the same – unrealistic expectations and demanding. Time is really of the essence in corporate work. We have shorter time to turn around deals, sometimes not even 24 hours. We work really long hours.

You say you don’t have the commercial experience or business acumen to do corporate work. Yes, these skills are very important. You have to pick them up along the way. I learnt them from observing my boss and seniors.

I don’t miss liti at all. I know some liti lawyers say that corporate lawyers are not ‘real lawyers’. But I don’t feel detached from the profession just because I don’t do court work.

At the end of the day, Kim, it is all the same. It’s just work. It’s about finding the work that makes you happy and motivated. And what that type of work is will be different for different people. Hey, why don’t we meet up for lunch and talk more about this?

Leng

Rajan Chettiar

Rajan Chettiar & Co

E-mail: rajan@rajanchettiar.com