THE
CHARTA
ISSUE 030 • October 2016
MAGNA
INTERVIEWS
TOP BARRISTER MEETS T O P L AW Y E R
E XCLUS IVE FERDINAND MASON AND THOMAS DE L A MARE QC ENGLISH BARRISTERS ARE LIKE THEIR DUTCH COLLE AGUES P R A G M AT I S M O N B OT H SIDES OF TH E NORTH SEA
FIRST NEVER FOLLOWS!
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FERDINAND
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THOMAS
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MAGNA CHARTA THE INTERVIEWS FEATURES page
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WHO IS FERDINAND MASON
WHO IS THOMAS DE LA MARE QC 22t /m29
THE INTERVIEW
IT’S A FERDINAND AND THOMAS THING: ENGLISH BARRISTERS ARE LIKE THEIR DUTCH COLLEAGUES P R A G M AT I S M O N BOTH SIDES OF THE NORTH SEA
I S S U E 0 3 0 • O C T O B E R 2 016
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WHATEVER THE WORLD THROWS AT YOU, TAKE IT ON
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FERDINAND MASON F E R D I N A N D M A S O N A DV I S E S P U B L I C A N D P R I VAT E C O M PA N I E S A N D P R I VAT E E Q U I T Y H O U S E S O N M E R G E R S A N D A C Q U I S I T I O N S , TA K E O V E R S A N D TA K E O V E R PR E PA R E D N E S S , S A L E S O F D I S T R E S S E D C O M PA N I E S A N D A S S E T P O R T F O L I O S , J O I N T V E N T U R E S , C O R P O R AT E G O V E R N A N C E , A N D G E N E R A L C O R P O R AT E C O U N S E L I N G . F E R D I N A N D ’ S S U B S TA N T I A L T R A N S A C T I O N E X P E R I E N C E A N D T E C H N I C A L S K I L L A L L O W H I M T O E F F E C T I V E LY M A N A G E C O M P L I C AT E D M U LT I J U R I S D I C T I O N A L T R A N S A C T I O N S W I T H A N E Y E T O W A R D S C U LT U R A L AND JURISDICTIONAL DIFFERENCES. HE HAS REPRESENTED CLIENTS IN T H E E N E R G Y, F I N A N C E , P H A R M A C E U T I C A L , M E D I A , A U T O M O T I V E , R E TA I L , T E C H N O L O G Y, A N D M A N U F A C T U R I N G I N D U S T R I E S . F E R D I N A N D A L S O H A S E X T E N S I V E E X PE R I E N C E A DV I S I N G C O M PA N I E S , B O A R D S , A N D I N D I V I D U A L D I R E C T O R S O N A W I D E R A N G E O F C O R P O R AT E G O V E R N A N C E M AT T E R S A N D L E G A L A N D R E G U L AT O RY R E S P O N S I B I L I T I E S , INCLUDING DISCLOSURE, DIRECTORS’ DUTIES, AND CONTENTIOUS PUBLIC SHAREHOLDER MEETINGS. HE HAS BEEN QUOTED IN THE WALL STREET JOURNAL , BLOOMBERG, S U N D AY T E L E G R A P H , D A I LY T E L E G R A P H , A N D T H E F I N A N C I A L T I M E S O N G L O B A L M & A R E L AT E D D E V E L O P M E N T S . T H E F I N A N C I A L T I M E S R A N K E D F E R D I N A N D I N T H E T O P 10 O F “ I N N O VAT I V E L AW Y ER S I N T H E U. K . A N D EU R O PE I N 2 014 ” F O R H I S C R O S S - B O R D ER M&A APPROACH. H E H A S L E C T U R E D E X T E N S I V E LY O N M & A A N D C O R P O R AT E G O V E R N A N C E T O P I C S AT S E V E R A L N O TA B L E L AW S C H O O L S .
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J O N E S D AY I S A G L O B A L L A W FIRM WITH 44 OFFICES IN MAJOR CENTERS OF BUSINESS AND FINANCE THROUGHOUT THE WORLD. ITS UNIQUE GOVERNANCE SYSTEM F O S T E R S A N U N PA R A L L E L E D L E V E L O F I N T E G R AT I O N A N D CONTRIBUTES TO ITS PERENNIAL RANKING AS AMONG THE BEST IN THE WORLD IN CLIENT SERVICE. J O N E S D AY P R O V I D E S SIGNIFICANT LEGAL R E P R E S E N TAT I O N F O R ALMOST HALF OF THE FORTUNE 500, FORTUNE GLOBAL 500, AND FT GLOBAL 500. page
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THOMAS DE LA MARE QC
THROUGHOUT HIS CAREER TOM HAS WORKED IN A WIDE RANGE OF AREAS. T O M H A S P R E S E N T E D H I S C A S E S I N T H E E C J / C J E U / G E N E R A L C O U R T, T H E E C T H R , T H E H O U S E O F L O R D S / S U P R E M E C O U R T, C O U R T O F A P P E A L A N D M O S T D I V I S I O N S O F T H E H I G H C O U R T. ON THE PUBLIC L AW SIDE MOST OF TOM’S CURRENT WORK IS FOR CL AIMANTS. B U T T O M W A S O N T H E A T T O R N E Y - G E N E R A L’ S ‘ A ’ P A N E L O F C O U N S E L U N T I L H E T O O K S I L K I N 2 0 12 ( A N D B E F O R E T H AT T H E B A N D C PA N E L S); H E A L S O A C T E D A S A S P E C I A L A DV O C AT E I N A S I G N I F I C A N T N U M B E R O F N AT I O N A L S E C U R I T Y C A S E S , S TA R T I N G W I T H T H E B E L M A R S H C A S E A N D C U L M I N AT I N G I N T H E B I N YA M M O H A M M E D L I T I G AT I O N . T O M WA S A P P O I N T E D A S T H E SPECI A L A DVI SER TO T H E C O N STI T U TI O N A L A FFAI RS SELECT C O M M I T T EE W H E N I T R E V I E W E D T H E U S E O F S P E C I A L A DV O C AT E S . AF TER CO MPLE TING PUPILL AGE IN B L ACKSTO NE CHAM BERS IN 19 9 6 TO M WO N THE BRISTOW SCHOLARSHIP WHICH ENABLED HIM TO WORK FOR C.9MONTHS IN THE EU INSTITUTIONS, WORKING BOTH IN THE COMMISSION LEGAL SERVICE AND IN THE CABINET OF AG JACOBS. TOM IS RECOMMENDED BY BOTH LEADING INDEPENDENT LEGAL DIRECTORIES AND WAS LISTED AS O NE OF THE L AW YER’ S “ H OT 10 0 ” FOR 2 016.
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BL ACKSTONE CHAMBERS COMBINES FORMIDABLE STRENGTHS I N C O M M E R C I A L , P U B L I C A N D E M P L OY M E N T L AW W I T H S TAT E O F T H E A R T F A C I L I T I E S A N D A F R I E N D LY A N D O P E N A P P R O A C H T O C L I E N T S E R V I C E . E S TA B L I S H E D F O R W E L L O V E R 5 0 Y E A R S , C H A M B E R S ’ O R I G I N S A R E F I R M LY R O O T E D I N C O M M E R C I A L L A W . O U R S TA N D I N G H A S G R O W N A S C H A M B E R S H A S B E C O M E I N S T R U M E N TA L I N T H E D E V E L O P M E N T O F H U M A N R I G H T S A N D P U B L I C L AW. W E H AV E M A I N TA I N E D O U R L E A D I N G P O S I T I O N I N P U B L I C I N T E R N AT I O N A L L AW, W H I L E D E V E L O P I N G O U R T H R I V I N G P R A C T I C E S I N E M P L OY M E N T A N D E U A N D C O M P E T I T I O N L AW. T H E N AT U R E O F O U R P R A C T I C E H A S E V O LV E D A N D B E C O M E I N C R E A S I N G LY M U LT I J U R I S D I C T I O N A L I N N AT U R E , D E S I G N E D T O M E E T T H E N E E D S O F T H E L E G A L M A R K E T I N T H E 2 1S T C E N T U R Y. W I T H 10 0 B A R R I S T E R S , B L A C K S T O N E C H A M B E R S I S A S U B S TA N T I A L C I V I L L A W S E T. M E M B E R S O F C H A M B E R S A R E A L L S E L F E M P L O Y E D A N D I N I N D E P E N D E N T P R A C T I C E AT T H E B A R . E A C H P R A C T I T I O N E R I S R E G I S T E R E D W I T H T H E B A R S TA N D A R D S B O A R D O F E N G L A N D A N D WA L E S . OUR QUALITY IS RECOGNISED AND ENDORSED - BLACKSTONE CHAMBERS I S I D E N T I F I E D I N T H E L EG A L D I R EC TO R I E S (C H A M B E R S A N D PA R T N E R S , T H E L E G A L 5 0 0 A N D O T H E R S ) A S A L E A D I N G O R H I G H LY R E G A R D E D S E T IN ITS MAIN AREAS OF PRACTICE. MANY INDIVIDUAL MEMBERS OF CHAMBERS ARE ALSO SO LISTED IN THEIR INDIVIDUAL PRACTICE AREAS.
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IT’S A
FERDINAND AND T H O M A S THING ENGLISH BARRISTERS ARE LIKE THEIR DUTCH COLLEAGUES PRAGMATISM ON BOTH SIDES OF THE NORTH SEA
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ilms and novels give us a slightly different view of the work of barristers and solicitors on the other side of the Channel. The average barrister seems more competitive and more focussed on details. In the City of London, the interests at stake appear to be bigger as well and so the financial rewards for success are significant (as well as the stains on reputations in the case of failure). But is that image correct or just a romantic fantasy? We asked two top lawyers working in the City of London.
Ferdinand Mason is an international corporate partner with Jones Day, a global law firm, with 2500 lawyers and 44 offices, including an office in Amsterdam. Mason was one of the initiators of the Jones Day Amsterdam office which opened three years ago. Ferdinand is British and a Dutch advocaat and works out of London on international transactions. He is a registered European lawyer with the Solicitors Regulation Authority. The firms Tom de la Mare is a Queen’s Counsel at leading UK set, Blackstone Chambers. The simple fact that he can add these two initials to his name opens many doors for him throughout the Commonwealth, doors that remain closed for the colleagues that lack them. For Tom de la Mare such a badge of excellence is very welcome because international litigation, particularly anti-trust or competition work, and regulatory work is his main field of work. “It’s an accolade for which
you apply, typically with around about fifteen to twenty-years’ experience or above. And there’s a reasonably rigorous, year-long application process, with referees, who are primarily senior judges and practitioners, who decide whether or not you meet the standard of excellence required to get the qualification. Where I work, we have about 100 names on the door, of whom 49 are QCs,. One of the things that barristers have in our favour, though, that particularly continental lawyers find quite odd, is that a barristers’ chambers is not a firm. It’s a collection of self-employed individuals, literally an umbrella grouping of independent self-employed people, with common practice areas. Barristers have very specialist litigation and advisory skill sets that clients buy in as and when needed. The result is that contact with the end client (as opposed to the solicitor) is much more episodic. This supports a culture of real independence and objectivity.
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The result of these structures is that I can argue a case, and regularly do argue cases, against other people in the same chambers. In fact those tend to be the most hard-fought cases. But this resource of flexible independent specialists is also a good thing for smaller firms. It means they can buy in the skills necessary to provide a full service on a case by case or project by project basis. And so it enables them to compete for work against the bigger UK and US firms . It’s also a good thing that these Chambers tend to specialise themselves, in areas like public law, fraud, insolvency, competition law, in insurance and banking and so forth”
Size is deceitful
Both British lawyers know and respect their Dutch colleagues. “Five years ago I didn’t know any Dutch lawyers, now I know loads of them, “ says Tom de la Mare. “I met them at conferences, particularly those doing anti-trust work, and I learned a lot from the Dutch. I’m having increasing contact with the Dutch legal system through my work in claims, where there seems to be quite a healthy competition between the Dutch, the English and to a lesser extent the German jurisdictions for putting together multinational, multijurisdictional disputes. The Dutch lawyers are a lot like us. They are very pragmatic and result-orientated. If it works, it works. And it doesn’t matter why it works.” Ferdinand Mason points to the fact that the size is deceitful when it comes to the Netherlands: “It’s a relatively small country. But its economy is vast with corporates investing globally. The Dutch have historically been pioneers in international business. And it’s also a country with a legal system created to accommodate international conglomerates and global disputes. We are very pleased with the success of our Amsterdam office, which now has 50 lawyers already.”
Beyond just being academically brilliant
According to Tom de la Mare, compared to the Continental training path, it is not so difficult to switch jobs or training paths to become a barrister or solicitor: “It’s quite easy to take a career in one area and then to switch to become a barrister. If you have a good quality university
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degree, which need not be in law, it’s only three years of training to convert. Many barristers were formerly doctors, academics, journalists or worked in the City outside law. But, there are rigorous intellectual standards required and skills you need to have, beyond just being academically
brilliant. You need to be practical, articulate, personable. Particularly these days where, you know, the cliché of the stuffy aloof barrister is gone, and you have to be ready to drop whatever you are doing and go to a solicitors’ office and stay up to three in the morning, working with a team
to solve a problem. That’s what modernity and the modern market demands. And that’s what we provide. So we are ready to become members of teams at the drop of a hat. And that calls for a particular mind-set, really, for people who like solving problems.” >>>>>
The Dutch have historically been pioneers in international business.
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Several jurisdictions Ferdinand Mason’s steady rise to the top wasn’t just a result of hard work either. “All I can say is, just looking back at my career of over twenty years, is that I’ve always really done one thing. I focus on managing and simplifying international complexity. I never ran away from the interaction of jurisdictions. I’ve had to deal with many companies looking for local solutions while the solution was elsewhere. If you’re thinking of merging a Japanese and a US listed corporation, you’re not going to find a solution in Japan; you’re not going to find a solution in the US. You’re going to find it in three or four European jurisdictions. The world has become even more complex on the regulatory front as well. As a lawyer, you need to understand that a US CFIUS analysis is a requirement for a Dutch-Chinese transaction involving US assets. An M&A Lawyer in 2016 needs to be on top of global regulatory developments as well.”
London a hub for international lawyers
“Together with New York, London is probably the most competitive city in the world when it comes to law firms. I mean, historically, New York always was number one. I think London and New York have reached the same level when it comes to the competitive arena for law firms,” says Ferdinand Mason. There are over 130 US law firms in London competing for international work with the UK incumbents. In the end, when it comes to complex global matters there are only a handful of eligible firms. To be a truly global firm you need to have a serious presence in the United States, the largest legal market in the world by far. Jones Day does more M&A than any other firm in the world since 2000. Our position in the US is essential to our global success. In 2015 Jones Day advised on 39 transactions with each exceeding a value of USD 1 billion.” Tom de la Mare: “The Bar’s model is different. You charge your fees, you pay a certain percentage of your fees towards the collective to pay for this building, to pay for the support staff and common costs. But beyond that, we are
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self-employed. One day I might be acting instructed by the government against, let’s say, my former pupil master, that is the person who taught me how to be a lawyer. The next day I may be acting for a claimant against the government and the government will be represented by the same party. So you can act for and against the government, you can act for and against colleagues, you can act in combination with each other. Because at the end of the day, we are all self-employed entities and we operate on a “what you eat is what you kill” basis.”
Chinese Walls
At Jones Day, we work by the One Firm Worldwide principle. We have one balance sheet, one P&L and are one institution. We do not believe in eat what you kill principles or client credits. On the contrary, we do not have any special recognition for bringing in the work. Unlike other large law firms, we’re not a network of offices structured via a Swiss Verein. We are one partnership geared to focus on serving the interests of the client and not the internal discussion on who and how a client was brought in. Serving clients today, in this complex world, requires focus and the trust that our partners will put the right partners forward to deal with the matter. With so may cases and so many vested interests, it’s inevitable that ethical walls are erected inside law firms. Our clients trust our conduct in these situations.
A proud moment Each of the two lawyers has won recognition at the highest levels, but each has one that fills him with particular pride. Tom de la Mare “I got Darts formally recognised as a sport!” Ferdinand Mason: “A proud moment was when the Financial Times ranked me as a top ten innovative lawyer in the UK and Europe. A lawyer can be indulged in his work completely, which can sometimes lead to funny situations. “I did go to a very, very important court hearing, wearing the raincoat of my female colleague instead of my toga, without realising it until I entered the court. My mind was so focused on the case that I had not noticed the dark blue colour until I noticed it was a bit tight, and there I was in court with a raincoat. Standing there and seeing the judges had taken note of it, and everyone else around me, was horrific. Somehow, I managed to continue as if there was nothing wrong. As Oscar was in order.”
The main danger for every lawyer
To avoid mistakes, you must avoid trusting blindly in the work of others. According to Tom de la Mare you have to learn to become more and more cynical about what your clients tell you, not because people are inveterate liars but because people under pressure can cut corners, and go on ‘gut’ rather than fact, or be wishful thinkers. And clients can be unwilling to accept the hardest work may take
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more time. That is a problem. “Because at the end of the day, particularly in my job, you’re always ultimately responsible for the quality of the work that goes out. You’ve got to be satisfied. When I think of the mistakes I’ve made, of work for which I have been responsible and of which I’ve been least proud, it happened when I did not have or allow the right amount of time for the job, either to do my bit or to check the work of others . I think that’s the main danger, that’s probably the main threat for every lawyer.”
Like being part of a big family
in the chambers for life. It’s almost like partnership straightaway. You’re a member of the chambers straightaway, and it’s all but unheard of, for someone to be voted out against their will. So, it’s an incredibly intense year to get taken on, but then once you’re in, you have a real security, a network of colleagues who become friends. And it is like being part of a big family. We’ll help each other out with problems – work or otherwise, share ideas, that kind of thing. You have to get on with each other because you are in it for the long haul. I think in twenty years’ time, there will be fewer barristers than nowadays, but this system, this security, won’t disappear. It is incredibly powerful because it delivers a very high quality service at short notice.”
Despite the numerous lawyers and barristers in the City of London, there are few firms at the top for law graduates to apply to. How closed can be measured by the small number of trainees who are allowed to enter the firms with the best reputation. “It’s intensely competitive to get into the Bar,” Tom de la Mare explains. “The Bar is probably a lot more rigid than solicitors in the way that it recruits. Whilst lateral hiring is on the increase, the main way to get into a Chambers is by training there, at the bottom. Once in, you tend to stay, so competition for the training posts at the top Chambers is fierce. To give an example: we have up to four training posts here at Blackstone Chambers every year. We probably get somewhere in the region of 400-500 applications for those training posts. Now we operate a very, very rigorous academic standard. It’s an unusual training process because once you do your year of what’s called pupillage, at the end of that if you’re “taken on”, you’re
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Colofon
Uitgave Redactie
Academie voor de Rechtspraktijk Etienne van Bladel AriĂŤn Pons Sharon Olivier van Genderen
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“IT SHALL BE LAWFUL TO AN Y PERSON, FOR THE FUTURE, TO GO OUT OF OUR KINGDOM, AND TO RETURN, SAFELY AND SECURELY...” Magna Carta Sealed by John, c. 1167-1216, King of England June 15, 1215
Scratching in the dark, in the dark with no remark And you’re human yet. Searching for belief, with the grit in your teeth And you’re human yet.
Tom Smith
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