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One Bishops Square London E1 6AD
Favoured by 7 users
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The lowdown (in their own words...)Why did you choose this firm over any others? 'Because of the value it placed on training and support'; 'really friendly and outgoing people, good working atmosphere and high quality of work'; 'opportunities for travel and working in overseas offices'; 'broad range of universities among trainees'; 'reputation and expertise'; 'quality of work and support staff'; 'it is the best!'; 'very friendly and positive vac scheme' How does your training compare with peers' at other firms? 'Better but longer hours'; 'intense but holistic at same time'; 'more resources available but less responsibility than at smaller firms'; 'great support functions, which allow us to do real work'; 'comparable with other Magic Circle but friendlier'; 'bigger deals and longer hours' Best thing about the firm? 'The people and the dance studio on the ground floor'; 'the international dimension of the work and exposure to leading corporate clients'; 'the atmosphere, the roof terraces and the high-quality work'; 'inclusiveness and innovation'; 'quality of lawyers and work'; 'collegiate atmosphere and emphasis on team work'; 'great office space, facilities and food'; 'commitment to excellence' Worst thing about the firm? 'The unpredictability of the work and the hours'; 'being one of many trainees means high levels of competitiveness in terms of getting what you want'; 'the lack of fresh air/natural light'; 'very large so individual trainees can feel a little lost'; 'you do a lot of grunt work in big deals' Best moment? 'Whenever someone says well done for getting it right'; 'closing a deal and playing an 11-a-side football game on the same day'; 'witnessing the signing of a famous person's will!'; 'helping to close a particular deal that was the largest in history under a cloak of confidentiality'; 'two weeks in Milan and Geneva interviewing clients and staying in 5-star hotels' Worst moment? '1am departure every day for about two months'; 'having an associate stay all night to fix a mistake I made in preparing execution copies of documents'; 'ten days straight working until 3-4am every morning doing verification' The firm'Banking powerhouse' Allen & Overy maintains its reputation alongside Clifford Chance as the City's leading finance firm, with particular strength in structured finance, asset-based finance and cross-border work. The firm is described as 'proactive' and 'responsive' by clients and has an 'unmatched track record with lenders', providing a 'very good level of service'. The star performersTop-ranking departments according to The Legal 500*Administrative/public law; Arbitration; Asset finance/leasing; Bank lending; Banking litigation; Contentious trusts/probate; Corporate tax; Derivatives; Employment; Energy; Environment; Fraud; IT; Insolvency/corporate recovery; International capital markets; Islamic finance; Partnership; PFI; Property finance; Securitisation. The dealsActing for HSBC on its agreement with Metrovacesa to buy back Canary Wharf headquarters; advising on the sale of HBOS to Lloyds TSB for £12.2bn; advising the structuring banks on the aborted $400bn Master-Liquidity Enhancement Conduit superfund; achieving clearance for the Co-op's takeover of Somerfield; acted for Heineken in its £9.6bn takeover offer with Carlsberg to acquire Scottish & Newcastle. The clientsBAE; Blackberry; BNP Paribas; GE Capital; HBOS; Imperial Tobacco; JPMorgan; Pfizer; Sage; Sun Microsystems. The money(from Legal Business magazine) Turnover in 2008: £1,016m (+15% from 2007) Profits per equity partner: £1,122,000 (+9%) Highly commended teams: Competition; Corporate; Real estate; Structured finance/debt capital markets. The Lex 100 verdictAllen & Overy maintains its reputation among trainees for being one of the friendliest City/Magic Circle firms, with a 'more relaxed and supportive culture' and a positive approach to training and trainees. The interview process is described as 'welcoming' and the ethos of the vacation scheme was appealing 'hard-working but people enjoying their work'. It has also proved, so far, to behave pretty decently towards its staff during the current recession - 'not just axing staff so PEP can be maintained like some of its competitors'. Trainees appreciate this loyalty to staff and believe it encourages loyalty in return. The hours can be long and the work challenging, but that is only what you would expect from a top-notch firm and trainees are happy to have exposure to high-value transactions, headline deals, intelligent colleagues and a range of top corporate and private clients. Most trainees here enjoy being part of a large group as it provides a greater pool of like-minded people to work and socialise with. They also love their office, complete with roof terrace, dance studio, gym, Dr and even music lessons on site. The training itself is described as 'structured, well-organised, practical and thorough', as well as 'well thought-out, relevant and interesting' 'the best training in the City', according to many trainees here. On the downside it's mainly those hours again ('but probably better than some comparable firms'), while some complain about a lack of natural light and others wish they were all in the same building. They would also like a better bonus scheme for junior staff members. These issues aside, Allen & Overy is clearly a great place to start your legal career. And if you're a bright, ambitious candidate looking for a large City firm, then the wide range of practice areas, serious international dimension, excellent training programme and supportive atmosphere all make it pretty hard to beat. A day in the life of..... Rose Spencer-Longhurst Allen & Overy LLP University: Edinburgh University Departments to date: International capital markets Degree and class: Religious Studies, 1st 8.00am: I have done it! My will power won out and I am at the office to go to a spinning class before work. The Bishops Square office is impressive and the gym is full of the latest equipment. I emerge energised for the day ahead. 9.10am: I head to the tenth floor restaurant for breakfast. I have got a great view of the city while I eat my bacon sandwich. At my desk, I review emails from clients and colleagues and catch up with my trainer, an associate in International Capital Markets.9.30am: I attend a fortnightly Derivatives and Structured Finance team meeting with other trainees, associates and partners. We hear about recent developments in relevant law and cutting-edge deals in which colleagues have been involved. Allen & Overy was recently named Derivatives Law Firm of the Year at the Global Derivatives and European Securitization Awards for the fourth year running. I feel proud to be working alongside lawyers who are at the top of their game. 10.30am: I am working on a project advising a leading global bank on structured issues of securities. My supervisor forwards me a term sheet from the client This sets out the structure of a new trade but some key information is missing. I call the client to fill in the gaps and get to work drafting the required documents. I joined Allen & Overy partly because of its excellent reputation for training and I do not feel let down. Trainees are given departmental training at the beginning of each seat, ongoing talks and seminars, and feedback and support from colleagues. Today, as always, my trainer makes time to explain the more unusual characteristics of this trade when I come unstuck. 12.15pm: I finish a piece of pro bono work. Allen & Overy is committed to pro bono and community work. Among many other things, trainees can go on secondment to Battersea Legal Advice Centre, volunteer to cook breakfast for the homeless at the Whitechapel Mission and research questions of human rights law for Liberty.1.00pm: It is a sunny Friday so I head to the terrace with my team to enjoy the summer barbeque. Allen & Overy has a friendly and inclusive firm culture. The partners are approachable and interested and, thanks to the Allen & Overy bespoke LPC, I became good friends with other trainees before our training contracts started.1.45pm: I work on a set of negotiations which involves liaising with the pensions department and an investment management company, as well as the pension fund client. Although this was quite daunting at first, I am glad to have been given the responsibility of being the firm's first point of contact for this matter. It is good to be able to form my own client relationships and make a real contribution to the negotiations. Today, I call a colleague in the pensions department for advice on the wording of a clause under negotiation and forward a summary of his comments to the investment managers.4.30pm: Research required on an obscure point of company law has come up at the last minute on a deal I am working on. I review the relevant case law and articles and discuss my findings with my trainer. There is no clear precedent so we weigh up the pros of cons of the options available and seek advice from a partner and a professional support lawyer.6.45pm: It is Friday, which would usually mean that I would go to Lavanda, the Allen & Overy bar, to meet other trainees. Tonight however is the 'Casino Royale' themed trainee summer ball so I head off to an exciting City venue with sky-high (and, as it turns out, totally misplaced) hopes of a raffle or casino win. About the firm Address: One Bishops Square London E1 6AD Telephone: 020 3088 0000 Fax: 020 3088 0088 Email:
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Senior partner: David MorleyManaging partner: Wim Dejonghe
Total partners: 450 Other fee-earners:2,500+ Total trainees :240
Other offices: Abu Dhabi, Amsterdam, Antwerp, Bangkok, Beijing, Bratislava, Brussels, Bucharest (associated office), Budapest, Dubai, Dusseldorf, Frankfurt, Hamburg, Hong Kong, London, Luxembourg, Madrid, Mannheim, Milan, Munich, Moscow, New York, Paris, Prague, Riyadh (associated office), Rome, Sao Paulo, Shanghai, Singapore, Tokyo, Warsaw. Who we are: Allen & Overy LLP is an international law firm with approximately 5,000 people in 31 offices worldwide. What we do: Our clients include many of the world's top businesses, financial institutions and governments. We are renowned for the high quality of our banking, corporate and international capital markets advice. What we are looking for: Candidates must be predicted or have achieved a 2(1) degree and have a genuine interest in law. Business awareness, initiative, teamwork and an international outlook are also important. What you will do: Our training contract is characterised by flexibility and choice. Trainees will spend 12 months in at least two of our core practice areas. Perks: As well as financial rewards, working at Allen & Overy offers an exceptional range of benefits, including life insurance, pension scheme, an interest-free season ticket loan, on-site gym and sports hall, medical, dental and physiotherapy service, beauty treatment centre, dry cleaners, music rooms, multi-faith prayer rooms and two restaurants. Sponsorship: We pay fees for GDL/LPC and a maintenance grant for the GDL (£5,000 outside London; £6,000 inside London) and £7,000 for the LPC. Future joiners will study the bespoke Allen & Overy LPC at the College of Law in Moorgate. Application processApply to: Caroline Lindner, Graduate Recruitment Manager. How to apply: Online at www.allenovery.co.uk/careeruk. When to Apply: By 17 January 2010 for non-law finalists and graduates (Sept 2012/March 2013 start). By 1 June 2010-31 July 2010 for penultimate year law (Sept 2012/March 2013 start). What is involved: One competency-based interview with a partner or senior associate followed by a case study interview with a partner and an office tour with a trainee solicitor. Facts and figuresTrainee places available for 2012 105 Applications received pa 2,500+ Percentage interviewed 8-10% SalaryFirst year £38,000 Second year £42,200 Newly qualified £60,000 Placement schemesWinter: 14-22 December 2009 (apply by 31 October 2009) Summer: 14 June-2 July 2010, 5-23 July 2010, 26 July-13 August 2010 (apply by 17 January 2010). |