- Entry level
- No Education
- Salary to negotiate
PwC is one of the largest professional services firms in the world. Since 1 October 2016 PwC’s legal capabilities have been fully integrated into the rest of PwC’s business as a multidisciplinary practice. Before that, PwC Legal was a PwC network firm for more than 20 years. The legal offerings provided by PwC’s legal network match those provided by any traditional law firm but our operating model means that we offer a seamless multidisciplinary service combining our legal capabilities with the expertise which exists across PwC, including tax, consulting, transaction services, business recovery, sustainability and climate change, corporate finance, forensics and audit and assurance. No other law firm offers such an integrated service.
PwC’s Legal network is the largest legal network by geography. We have over 3,700 lawyers in 97 countries and immigration service providers in 116 countries.
PwC’s Legal Banking and Finance team advise borrowers and lenders on the negotiation of various types of new bank finance both in the context of M&A/PE/real estate 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.
Historically the team have focused on real estate finance (the team’s primary focus and core offering) and general banking transactions and more recently the team have started to build out their leveraged finance offering, working closely with PwC’s PE and Debt Advisory teams to seek to bolster that practice advising sponsors and private equity backed portfolio companies.
Our clients include numerous privately owned property companies, property developers, property-rich businesses, sponsors and their portfolio companies, real estate funds, in-bound businesses, start-ups, family offices, high net worth individuals, investors and entrepreneurs, various financial institutions and alternative lenders including debt funds.
The Banking and Finance Legal team are a sub-team sitting within the wider Legal Corporate practice so they frequently work closely with the Corporate team's solvent restructuring lawyers to assist with reviews of bank facilities and security to identify issues and any consent requirements on corporate reorganisations, demergers and simplification projects. They 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 and cash pooling/cash management offerings by banks as well as cash pooling arrangements within corporate groups.
The Banking and Finance Legal team are often involved projects alongside the PwC’s Legal M&A Corporate and Restructuring 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.
Like the rest of our team, we expect the person in this role will enjoy an interesting, diverse and challenging workload. We work on a wide range of projects across the specialisms covered by our team; 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 legal team is currently small; the successful candidate will join 6 qualified lawyers plus a trainee and a paralegal focusing on Banking and Finance legal work with the support of 9 partners and 50+ other fee earners in the wider Corporate Legal team, of which the Banking and Finance legal team currently forms part and is very closely linked.
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 matters under the supervision of the Legal director in the team or another senior member of the Banking and Finance Legal team and to work closely alongside the other fee earners in the team. Organisational skills and the ability to take on significant levels of responsibility on transactions 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
Qualified solicitor in England & Wales or equivalent common law jurisdiction.
Excellent academic background.
1 to 4 years PQE.
A general finance banking background (or willingness to get involved with a variety of general banking matters in future).
Strong borrower and lender side property finance experience, including development finance.
Strong client service skills.
A commercial, business focused mind-set.
Experience of networking and building relationships with existing clients and/or other professional advisors.
Ability to work in a small, close-knit niche team.
Primarily a team player but also able to work under own initiative.
Clear, articulate and confident in written and verbal communication skills.