In this series, we will be talking to our recently seconded lawyers about their experience working at firms in different jurisdictions. We dive into the differences in legal work, culture and what they’ve learnt from working in a new country. First in the series is James Addison, Senior Associate in the Corporate team.
How long have you been seconded and what is your role?
I’m currently mid-way through a 12-month secondment as a Foreign Associate at a leading US law firm in New York. Similar to the UK, the M&A team here advises companies on the full spectrum of corporate transactions, including mergers, acquisitions, divestments, spin-offs, joint ventures and shareholder activism defense. There are nearly a dozen Foreign Associates here in the New York office, seconded from leading firms in countries such as Brazil, Mexico, France, Finland, Germany and Japan.
How does your work in the US differ to that in the UK?
Firstly, the wide-spread use of LLCs and statutory mergers mean that corporate transactions are often documented and implemented quite differently to equivalent transactions in the UK. Secondly, there’s a significant divergence in market practice - not only from a drafting perspective but also in terms of the customary allocation of risk between parties. Lastly, in the US, the nature of directors’ duties and potential for securities litigation often place a greater emphasis on procedural aspects of corporate transactions.
What makes the relationship between Travers and your host firm work so well?
At a basic level, the relationship works well because both firms strive to provide the very highest quality of service to their respective clients; advice is predominantly partner-led, with teams comprising talented, commercial and intellectually curious lawyers. But more than that, the broad-based approach taken by our Corporate, M&A and ECM team has been a great fit practice-wise with my host firm. Both encourage a generalist approach to practicing corporate law, which enables teams to navigate novel issues and operate seamlessly across both public and private markets.
What have you learnt from working in a US law firm? Are there any lessons you might take back with you to the UK?
A core focus of our practice at Travers Smith involves advising on complex cross-border transactions. A deeper understanding of US markets and legal customs will no doubt be a useful tool in itself when advising our international client base, particularly with respect to their trans-Atlantic M&A. However, I’ve also seen some fantastic examples of attorneys at my host firm who effortlessly bridge the gap between being an attorney and being a trusted advisor. Whilst this isn’t unique to the US, it’s certainly a reminder that I’ll take back to the UK. By contrast, I suspect that some stylistic aspects of North American practice (particularly the term ‘witnesseth’) are unlikely to gain much traction.
Has anything surprised you?
Apart from the size of the rats – truly, they’re huge – I’ve been constantly surprised by the diversity of individual neighbourhoods throughout New York. For instance, in a relatively brief stroll from Tribeca to Gramercy Park, you might pass through a half-dozen different areas - each of which having a distinct atmosphere / offering.
What is your favourite spot in the City?
I’m a big fan of the Sheep Meadow - a 15-acre patch of grass in Central Park. Although perhaps, on reflection, it’s not the most exciting landmark - particularly when closed in the Winter. The meadow reminds me of summer evenings spent at Regent’s Park in London, but with the added benefit of the New York skyline. It’s a short walk from both Irving Farm (one of my favourite cafes on the Upper West Side) and also Gray’s Papaya (if you’d prefer a no-frills hot dog to-go).
