Katy Bagerman, trainee, talks about her work for TFL/LUL on the acquisition of Tubelines.
What’s your background?
As an international student, I studied Law with French Law at London School of Economics. I joined CMS Cameron McKenna in February 2010.
Why did you choose CMS Cameron McKenna?
On the professional side, I was really attracted to the firm’s international focus, their strength in Europe and their forward-looking approach to expanding into the BRIC countries. There’s a lot of scope for trainees to go abroad, which was important to me. I also liked the sound of their industry and sector focus, and felt that their cross-departmental way of working would give me plenty of exposure to varied work. On the personal side, I found the people to be extremely friendly and interested in me as an individual. For example, I was impressed when the partner who interviewed me recalled details of our meeting a year after we had initially met.
What seats have you undertaken in your Training Contract?
I’m just coming to the end of my first seat in Infrastructure and Project Finance in Banking. This seat has given me the opportunity to work on a mixture of national and international infrastructure projects as well as real estate finance projects for clients including large shopping centres and hotels. In two weeks I’ll be heading off to Kiev for six months to start my second seat in the Corporate team. I’m really excited about this as I’m Russian so it will be a great opportunity to use my language skills.
What has been the highlight of your Training Contract to date?
The highlights so far were the first and last closing I worked on. The first closing was very fast-paced with lots of client contact and pressure to make the right decisions quickly. The last closing was where we were acting for TFL/LUL on the acquisition of TubeLines and the related £1.8bn debt restructuring as the final part of the LUL PPP was brought back in-house. I was responsible for organising the signing and delivery of all documents. There was a lot of pressure as I had to co-ordinate everyone involved, several of whom were overseas and ensure that we kept to a very tight deadline, not to mention the high profile of the client and the impact the deal could have on the operation of the underground!
How have you contributed to the TFL/LUL account?
As a trainee, it has been my role to ensure a high level of organisation on the account. There are so many small details involved in the bigger picture. Partners and associates agree the documentation and it’s down to the trainee to organise all the details, such as to ensure the correct parties sign the correct documents, collate all the signing authorities and other conditions precedent and know where everything is.
What makes a successful lawyer?
I have found that organisation and enthusiasm are my two best friends. My organisational skills enable me to keep track of the work I have done and to anticipate what work may come in the future. Often you may be asked about something you did a week ago and you need to have a quick response, so being able to keep track is vital. Showing enthusiasm is key in this job if you want to progress and gain more responsibility. The details involved in closing a deal show the importance of all the pieces to the puzzle, so being enthusiastic in getting involved in any part of a deal could lead to repeat work from an associate or partner.
What advice would you give to applicants?
I would advise candidates to be very candid in the application and interview process. During my interview at CMS I found that they didn’t try to trick me or catch me out; the process was very straightforward and the interviewer tried to understand who I was in particular and my individual strengths that I could bring to the firm. They are very good at judging whether you’ll fit into the business and vice versa, so just be honest with them.