Sarah Clarke QC and Katie Gollop QC championed the interviews with Her Honour Judge Joanna Korner CMG QC and Nemone Lethbridge at the Women Leaders in Law conference yesterday. You can catch the interview on Joshua Rozenberg’s Law In Action.
Serjeants’ Inn is a founding partner of First 100 Years/ Spark 21.
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Serjeants’ Inn is one of 21 chambers to be awarded the new Certificate of Recognition issued for an “innovative and invaluable contribution made to the well-being initiative in the profession”.
Noting our “breadth of thought, support and safeguarding”, the Bar Council comments: “Serjeants’ Inn clearly demonstrate a deep understanding of this agenda and have been strategic in recognising the need to tackle stress points as well as introduce new initiatives”.
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This week, systemic coach Zita Tulyahikayo and barrister and NLP Master Practitioner James Pereira QC remind us of the importance of acknowledging everyone’s contribution to the organisations within which we work.
Nature is a beautiful system. Balanced, adaptive, generative and consistent, it never ceases to inspire wonder, far beyond anything that man can offer in its place (as the ratings trouncing of X –Factor by Blue Planet II testifies). One feature of Nature that operates beautifully yet almost unnoticed is the interdependency and synergy of its parts, including the seemingly small players. Soil would remain infertile but for the constant work of numerous micro-organisms that labour unseen beneath our feet.
None of us are immune from this inter-dependency. We could not survive within our own bodies without the billions of micro-organisms that inhabit our gut; or the beautiful mitochondria within all of us that perform cellular respiration, yet retain their own, separate DNA: a wonderful and mysterious vestige of an ancient symbiotic relationship far, far older than human kind.
The organisations we work in are not nearly as beautiful as Nature. But like Nature, they too rely on a contribution from everyone engaged in the activity of the firm or the work of the team. Most people when asked who the really important people are within their firm or team, would probably single out the leader or most influential people first, whether they make their judgment based on an internal reference system (“Who is important to me?”) or an external one (“Who is important in the eyes of others?”). They might also identify people who they are responsible for in a professional capacity: trainees or junior associates, for example.
But what about the seemingly small players: the staff who arrange the refreshments and catering, the cleaners who ensure that your bin is empty and your reception is clean and neat in the morning, or the administrative team that ensures your documents arrive on time or that your pay cheque hits your account each month?
The people responsible for these and similar tasks are an integral part of the work system. A critical and essential part, yet often unseen. Their diligence gives others the space to perform their own tasks without distraction – you only have to think about what happens to your focus when the coffee machine or the photocopier stops working, or the sandwiches fail to arrive for your meeting. Their work is also integral to the impression clients receive about your organization: the cleaners’ work is the first thing on display when anyone reaches the door of your office building.
Most importantly, they are a central part of the work that goes into delivering the overall experience that clients will enjoy – or not – and which will in turn create lasting client relationships, a glowing reputation, and a growing practice – or not. It is worth remembering that overall client experience is often a more powerful factor in building business relationships that the quality of the advice or service given – as Malcolm Gladwell points out in his excellent book “Blink”, few people sue a doctor they intuitively trust, even when told that the doctor has been negligent.
So look up from the page or away from your screen, and think about and observe everything that has been done and is being done to support your position within the workplace. Your IT works because someone makes it work. Your coffee is hot because someone services and fills the machine. You can admire your reflection in the windows and mirrors in your office because someone cleans them for you. Like you, those who provide a supporting role have needs, aspirations, interests and concerns. Express your sincere thanks for their services. Take a genuine interest in their welfare. Find out how you or your firm can better support them. This is not just a better way to live. It is also a better way to run a business.
The authors welcome feedback from anyone concerned with the issues raised in their writing, and are also interested in hearing from anyone with suggestions for future articles. You can reach them at @LifeTherapyZita and @JamesPereiraQC.
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Magda Cocco (partner) and Isabel Ornelas (senior associate) from VdA’s Telecoms, Media & IT’s practice, participated as guest speakers at a forum held by UN Office for Outer Space Affairs, has as main subject the title “Space as a driver for socio-economic sustainable development”.
The lawyers were guest speakers at the 6th session entitled “Space Diplomacy”, and develop the matter “North-South and cross-industry co-operation for space”.
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Magic circle duo Clifford Chance and Allen & Overy have won lead mandates on the $2bn sale of Engie assets to Total.
A&O advised the purchaser Total with a team led out of Paris by partner Alexandre Ancel and partner John Geraghty in London.
Employment matters were handled by partner Claire Toumieux, while partners Florence Ninane and Mark Friend worked on antitrust.
A&O’s offices in New York, Tokyo and Singapore provided additional support.
The deal sees Total acquire Engie’s portfolio of upstream liquefied natural gas assets for a value of $1.5bn. Additional payments of $550m could be paid by Total if oil markets improve in the next few years.
Clifford Chance represented Engie in the sale, with partner Mathieu Remy leading the team from Paris, alongside counsel Olivier Jouffroy and Sue Palmer.
London corporate partners David Lewis and Graham Philips provided additional support, while partners David Evans and George Kleinfeld acted in the US. Partners Alex Nourry, François Farmine and Alexandre Lagarrigue advised on antitrust, employment and tax issues respectively.
Clifford Chance shipping partner Gervais Green, commercial contracts partner Dessislava Savovam, finance counsel Pierre-Benoit Pabot du Châtelard and environment counsel James Shepherd were also involved.
The transaction looks set to make Total the second largest LNG player in the market. The deal will close by the middle of next year.
Background to the deal
Engie was previously known as GDF Suez – a company created in a £17bn deal between GDF Suez and International Power. Clifford Chance has a longstanding relationship with International Power and acted on the 2011 merger. Linklaters, Bredin Prat and Ogier advised GDF Suez on the deal.
A year later GDF Suez did not appoint Clifford Chance to its inaugural legal panel-a decision understood to be related to the requirement to keep the governance of the UK-listed International Power independent from other companies. The company’s rebrand to Engie was announced in early 2016.
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In association with 
Russia has been through a wave of change in the past few years. Conscious that business is being lost to overseas jurisdictions because of the way local laws work, the government has reformed first the country’s civil code, then the arbitration system.
At the same time, the conflict that unfolded between Russia and Ukraine in 2014 has led to the imposition of sanctions by the US, EU and other Western nations. Those sanctions have contributed to a fall in investor confidence and a drop in the value of the rouble.
Within the Russian legal community, there is a clear acknowledgement that sanctions have had an impact on business – but also a desire to use the situation as a catalyst for change. Speaking at a recent conference in Kazan, the head of Russia’s Federal Antimonopoly Service (FAS) Igor Artemiev told delegates that the sanctions “are waking us up”.
His comments were echoed by many at the forum, hosted by CIS firm Egorov Puginsky Afanasiev & Partners (EPAM) together with the Republic of Tatarstan (for facts on the Republic, see below). While the focus of the forum is firmly on Russia – and especially Tatarstan – being open to business and keen to welcome investors, some sessions discussed why recent reforms are yet to bear fruit.
Although sanctions are the elephant in the room for any transaction in Russia, lawyers recognise that they are unlikely to disappear soon so instead are working to make the best of the situation.
“The sanctions regime is unlikely to disappear in the short term,” said Diana Vinokurova, legal director for Carrier Commercial Refrigeration Russia, at a session focusing on compliance.
“Sanctions are political,
not legal. You need lawyers who understand how Washington works now” Andrew Mac, EPAM
EPAM Washington DC managing partner Andrew Mac agreed, saying businesses need to take the right approach to dealing with sanctions, while noting that it is common for corporates to be treated more harshly for circumventing sanctions than for simply not complying.
“Sanctions are political, not legal,” Mac says. “You need lawyers who understand how Washington works now.”
Arguably to do business in Russia you also need lawyers who understand how Russian law and business function – as well as English law. The choice of which law to choose for corporate transactions has been made harder since the 2014 introduction of the new civil code which means, according to EPAM partner Robin Wittering, that Russian law now allows “80 per cent of the technical things English law does”.
Despite this, Wittering thinks English law will continue to feature in the Russian legal system. “It’s said that there’s only two kinds of people who’ll never be unemployed in Moscow: sushi chefs and English lawyers. English law will survive because of its flexibility and how it can be arbitrated.”
Other panellists agreed that English law has more flexibility and predictability than Russian law, but that the Russian system will eventually gain popularity.
“The system has a lot of momentum, but some time will pass before these principles start working”Artem Karapetov, M-LOGOS
“The system has a lot of momentum, but some time will pass before these principles start working,” said M-LOGOS Law Institute director Artem Karapetov.
The new Russian system of arbitral fora is a similar picture. EPAM litigation co-head Dmitry Dyakin explained that the system was implemented only a year ago and introduced the concept of permanent arbitration institutions to the Russian system, as well as bringing clarity to the rules on what disputes can be arbitrated. The system is still in its early days and panellists said users should be patient as it develops.
“It took the London Court of Arbitration 100 years to achieve this level,” pointed out Vitaliy Bezbakh, chairman of the Independent Arbitration Chamber.
Sberbank COO and litigation head Nadezhda Tretyakova said the reforms are welcome: “We had a lot of pressure on the system of Russian commercial (arbitrazh) courts. We believe it will foster the development of arbitration processes.”
However, Tretyakova adds that there remain some disadvantages in the new system, including its need to embrace technology and improve its speed and efficiency.
Bureaucracy inherent in picking arbitrators is another flaw of the reformed system, said Russian Arbitration Association secretary-general Roman Zykov, with experienced arbitrators put off by requirements to produce evidence of their qualifications and other documents.
Despite the reforms, taking disputes out of Russia remains popular with many businesses and oligarchs. RPC senior partner Rupert Boswall said the UK is “emphatically still the venue for Russian fair hearings”, and pointed to several cases brought to the High Court with no connection to the UK.
Nevertheless, Clemens Trauttenberg, head of disputes for Austrian firm Wolf Theiss, stressed the need for a Russian law professor to advise on the intricacies of Russian law when handling a case overseas.
At the plenary session, where the 650 delegates were welcomed by the president of Tatarstan Rustam Minnikhanov and a note from Russia’s prime minister Dmitry Medvedev, EPAM chair Dimitry Afanasiev said the legal community is playing a key role in the development of the rule of law and the use of Russian law in the country.
“Law is the bloodstream of the economy,” Afanasiev says. “Problems in business are connected with a lack of blood.”
There has been a threefold increase in the number of significant deals governed by Russian law since 2012 – proof that reforms are beginning to take effect, he said.
“Law is the bloodstream of the economy. Problems in business are connected with a lack of blood” Dimitry Afanasiev, EPAM
FAS head Artemiev said the development of competition is a “great stimulus” for business, later adding: “Big monopolies aren’t always good. Usually they act by putting pressure on everything around them.”
He used FAS’ ruling over Google (where the American company had to stop requiring Android phone makers to install its apps and services and instead offer Android users a choice of default search engines), two years before the European Commission made a ruling on a similar issue to show how it was forward-looking in its decision-making.
Meanwhile, digitalisation has become a key issue for regulators and there is a “fine legal balance between antitrust rights and digital rights,” according to Artemiev. “You can’t put robots into jail,” he said.
FAS is also looking at its own use of technology, having launched a pilot project last year with Sberbank to exchange documents using blockchain. Blockchain was another recurring theme of the conference.
On one such panel Moscow Stock Exchange legal head Alexander Smirnov claimed that automation is now addressing “80 per cent of lawyers’ needs”.
“I think a lot of routine work will disappear and be overtaken by the robots,” predicts Artem Podshibyakin, head of legal for the Russian arm of fashion company Inditex. “But for more creative work I doubt technology will replace the human brain.”
Although legal technology companies are rarer in Russia than in the US or UK, the panel predicted that such start-ups are ripe for growth across the world.
Throughout the conference there was clear acknowledgement that lawyers can play a leading role in the development of strong business practices, building the economy and developing technology in Russia and elsewhere.
And while the event may have focused on Russia, the presence of delegates from 30 countries shows a willingness by the global legal community to share and learn from each other for everyone’s benefit. The future holds challenges, but also opportunities.
Kazan is the capital of the Republic of Tatarstan, one of the 85 provinces, republics and other regions that make up the Russian Federation. About 3.8 million people live in Tatarstan and more than 1.2 million in Kazan itself, and 75 per cent of the population live in urban centres. Kazan is Russia’s sixth-largest city.
Tatarstan has two official languages – Tatar and Russian – and two official religions, Russian Orthodox Christianity and Islam.
The republic is largely industrialised and built on petrochemical production. Major employers include truck-maker Kamaz and state oil company Tatneft. More recently Tatarstan has sought to develop itself as a centre for innovation, establishing two special economic zones designed to host start-ups, especially in technology.
Tatarstan aims to build an economy based on innovation and hi-tech, with the growth of professional services a corollary to that
Its ‘Strategy 2030’ is centred around building an economy based on knowledge, innovation and hi-tech sectors, with the growth of professional services a corollary to that aim.
Investment agency Invest Tatarstan says the state is the top-ranked region for investment in Russia, attracting $2m (£1.5m) in foreign investment daily. Private equity is its largest source of capital investment, representing 66.4 per cent of funds.
Much of the republic’s development came after it hosted the World Universiade, a summer multi-sport event for students, in 2013. That sparked significant infrastructure development, which has continued as the city prepares to host the quarter-finals of the FIFA World Cup in 2018.
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Trowers & Hamlins’ total borrowings grew by 32 per cent during 2016/17, with the firm’s year-end net debt rising by £1.89m from £5.9m to £7.8m.
The firm’s lock-up, the combination of the value of work-in-progress and year-end debtor days, also grew, with the latter now the longest of all the firms analysed by The Lawyer for this year’s UK 200: Financial Management report, which is published today.
The total number of debtor days stood at 154 days, the same as in 2015/16. Year-end WIP rose by two days from 19 days to 21, which means Trowers’ year-end total lock-up stood at 175 days last year.
Trowers & Hamlins’ senior partner Jennie Gubbins said there were a number of reasons for the firm’s lengthy lock-up and increase in debt, including its significant international practice, growth in the UK regions and an increased focus on litigation that has seen turnover from this group rise by 33 per cent.
“The nature of the work we’re doing, particularly in our regional offices, which includes more CFA-type matters than it previously did, has a direct impact on lock-up,” said Gubbins.
She added that while some 45 per cent of Trowers’ total turnover is derived from real estate, which in theory should reduce lock-up, it depends when the completion on a particular transaction takes place and also on the nature of the client.
“Our real estate lock-up has actually stretched out a bit as the profile of our clients has changed, from primarily those in the public sector that tend to pay periodically to an increase in private sector clients who’ll pay you but generally only when you finish the deal,” said Gubbins.
Trowers’ regional expansion in recent months has included bringing in a litigation team in Birmingham from DWF last year while two years ago the firm merged with Devon firm Stones Solicitors, which had 90 staff and 14 partners across two offices in Exeter and Devon.
Gubbins said the firm’s lock-up data also highlighted the extent to which the legal market remains conservative when it comes to getting its clients to pay.
“It’s undoubtedly true, lawyers are inherently cautious about upsetting their clients and can be reluctant to risk a client relationship by chasing down a bills,” confirmed Gubbins. “The key is to educate lawyers to understand the business model.”
Gubbins said Trowers now runs a process of rolling training for partners and lawyers covering key finance and business issues.
“And we cover that training for all new joiners too,” added Gubbins. “It includes lock-up management because this is fundamental, although it’s probably fair to say that it’s only over the last two-to-three years that we’ve focused on it as strongly as we do now have it. We also try the stick and carrot like everyone else. We exhort, encourage, bully and train.”
The Lawyer UK 200: Financial Management is one of five reports in The UK 200 series. To purchase any of these reports please contact either Gilberto Esgaio on +44 207 970 4191 or gilberto.esgaio@centaurmedia.com or Letitia Austin on +44 207 970 4662 or letitia.austin@centaurmedia.com.
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The initial rules published in July contained an exemption from the telephone taping requirement for non-MiFID firms dealing in unlisted shares. However, the exemption left out a significant number of firms engaged in private equity and venture capital business.
Buried within the innocuously titled FCA Handbook Notice 48 are some late amendments to the taping rules that will significantly benefit a number of private equity and venture capital firms and other firms dealing in unlisted securities. Under the updated rules, MiFID portfolio managers and article 3 firms will now be able to benefit from the exemption to the taping requirement in respect of unlisted shares.
Unfortunately, the FCA’s discretion to dis-apply the rules is limited by the MiFID Level 1 text. As a result, some private equity and venture capital firms – those with advisor/arranger permissions – do not benefit from an explicit exemption.
Firms that deal in unlisted securities should now reassess the applicability of the telephone taping provisions to their business. It may be the case that they will no longer be relevant.
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The steady improvement in the Guernsey property market is demonstrated in new figures out today that point to measured rises in both prices and turnover.
Property law specialist Advocate Martyn Baudains, a partner leading Ogier’s Guernsey property law team, says that the 2.5% rise in prices compared to the same period last year, and the fact that turnover had increased around 20% in the same period, pointed to a sustainable, measured improvement.
Baudains said that the number of transactions for the quarter, at 200, was the highest quarterly number since 2012, which was another positive sign.
He said: “There are signs here for continued optimism – the important thing is that there is sustained, measured increase, not boom-and-bust in prices, turnover or even loan-to-value ratios, which are a good measure of affordability.
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Every company in Switzerland processes personal data. Also most Swiss companies bear a reference to the EU, by virtue of e.g. rendering services or offering goods to EU citizens, having a branch in the EU and processing personal data in this context. In such cases the General Data Protection Regulation (GDPR) will also apply to Swiss companies.
In parallel the Swiss Data Protection Act (DPA) is being revised which will lead to increased duties of entities processing personal data and will implement a much stricter sanction regime for cases of violations.
The NKF Technology team is holding a series of events covering this topic from 23 November. In Q&A sessions lasting 60 minutes, the new data protection legislation in Switzerland and GDRP will be addressed briefly and discussed.
Please register via mail: events@nkf.swiss
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Avant Capital Management chief financial officer Ivy Pan has been awarded the Conyers Dill & Pearman Prize in Commercial Law.
Ivy is studying for an LLM in Compliance Regulation at the University of Hong Kong. Prior to this she obtained her LLM in Corporate and Finance Law.
“Ivy is very deserving of this scholarship and has proven to be an exemplary student” said Christopher Bickley, Head of Conyers’ Hong Kong Office. “We are honoured to present the Hong Kong Commercial Law prize to Ivy”.
“I am delighted to be receiving this award” said Ivy. “I would like to express my heartfelt thanks to Conyers Dill and Pearman. This recognition means a lot and has reinforced my motivation to pursue further study in the field.”
The Conyers Dill & Pearman Prize in Commercial Law was established in 2010 by Conyers’ Hong Kong office in conjunction with The University of Hong Kong. The scholarship is valued at US$5,000 (HK$39,000) and is awarded to the LLM student who displays the best overall performance in the Master of Laws in Corporate and Financial Law Programme. The recipient is selected by the University of Hong Kong’s Faculty of Law Board.
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Leading representatives of the region’s venture capital (VC) sector participated in a panel discussion hosted by Conyers Dill & Pearman in Dubai to discuss developments in the industry and opportunities ahead.
It has been an eventful year for VC in the UAE and wider GCC region. Developments have included Amazon’s acquisition of Dubai-based e-commerce platform Souq.com, locally based ride-hailing platform Careem achieving unicorn status (US$1 billion valuation) with strategic investments from Japan, China and Saudi Arabia, and the launch of promising VC and FinTech initiatives in the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (“ADGM”). The year has also witnessed the launch of Noon.com, a new e-commerce venture backed by Emaar Properties Chairman H.E. Mohamed Alabbar and the Public Investment Fund of Saudi Arabia.
Panellists reflected on how the past 12 months can shape 2018, the likely impact of the DIFC and ADGM initiatives on the regional VC landscape, and hot sectors to watch for VC investment in 2018.
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Conyers Dill & Pearman provided BVI and Cayman Islands legal advice to Takbo Group Holdings Limited (the “Company”) in connection with its HK$69 million initial public offering (“IPO”) of 100,000,000 Shares on the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong (Stock code: 8436).
Takbo Group Holdings Limited, designs, develops, manufactures and sells beauty products in the United States, the People’s Republic of China, the United Arab Emirates, the United Kingdom and internationally.
Partner Richard Hall of Conyers’ Hong Kong office advised on the matter working alongside Robertsons (Hong Kong).
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Talbot Holding AG, an entity controlled by investment company Actium AG, has launched an all cash public tender offer for all listed shares in ImmoMentum AG, a Swiss real estate company listed on BX Berne eXchange invested primarily in residential real estate. With the satisfaction of all offer conditions, the offer was successfully settled on 10 November 2017.
Bär & Karrer acted as legal adviser to Talbot Holding and Actium. The team includes Till Spillmann, Adrian Koller, Ivo von Büren, Dieter Dubs, Daniel Bader, Susanne Schreiber, Peter Reinarz, Cédric Chapuis, Markus Mühlemann, Fabienne Perlini-Frehner and Cyrill Diefenbacher.
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Fieldfisher has become the first firm to announce its half-year results for 2017/18, revealing a 20 per cent turnover rise from £64.1m to £76.7m in a continuation of its strong run of financial performances.
The figures cover Fieldfisher’s offices in the UK, Silicon Valley, Paris, Brussels and Germany, excluding those in the Swiss verein in Amsterdam, Italy and China.
The same time next year, Fieldfisher posted a 10 per cent rise in half-year revenue from £58.4m to £64.1m.
Managing partner Michael Chissick told The Lawyer that several key areas are generating growth, including the firm’s Russia and CIS practice. Chissick said the team, made up of 25 Russian-speaking lawyers and paralegals in London, is involved heavily in arbitration cases boosting fee income.
He also pointed towards the firm’s work for in-house counsel over GDPR, with hundreds of projects currently underway for clients.
Last month Fieldfisher expanded its Condor automated documentation platform to South Africa, while this month it formed a strategic partnership with Belfast-based Donaldson Legal Consulting in a further expansion of the platform.
Condor provides services to bank clients of the firm and is starting to generate a small proportion of revenue for the firm. Chissick hinted these were “not massive numbers as yet”, but that revenue could be “quite substantial” in the coming years.
For the 2016/17 financial year, Fieldfisher saw its turnover skyrocket 34 per cent to £165m, while average profit per equity partner rose 16 per cent. The figures were aided by a string of mergers in the 2016/17 financial year. Fieldfisher opened its fifth office in seven months last February, growing its European footprint to Amsterdam.
It also opened its doors in Italy after a merger with Studio Associato Servizi Professionali Integrati (SASPI), and entered the Birmingham market after combining with 18-partner outfit Hill Hostetter. In Asia, Fieldfisher formed new associations in Beijing and Shanghai.
Over the summer, the firm became the first in the UK to roll out new technology platform LexisOne, but experienced “teething problems” causing billing delays. Chissick added these problems have now been resolved.
Fieldfisher’s story proves you should never write off an ‘unfashionable’ firm
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Thomas Cook Group plc has acquired a 42 per cent stake in tour operator Aldiana from the Swiss investment company LMEY Investments. Thomas Cook will enlarge its portfolio to 190 hotels and resorts in 17 countries worldwide.
VIischer advised Thomas Cook as Swiss counsel. The team included under the lead of partner Dr. Benedict F. Christ Dr. Peter Kühn and David Weber.
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Nádia da Costa Ribeiro, senior international advisor, participated at the Angolan Association for Internet Service Providers (AAPSI) Workshop on IPV6 and Security .
Concerning the subject of security, the lawyer states that “Cyber crimes have high costs for the economy, so it’s important that every country creates its legislation and strategy to protect its own cyber space”.
The 2nd edition of this workshop took place in Luanda, Angola.
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Gowling WLG’s Corporate, Finance and Tax team in Birmingham has advised Palatine Private Equity’s Impact Fund on its investment into e-days, the rapidly growing provider of employee absentee management software.
Palatine Private Equity’s Impact Fund is a £100m investment vehicle targeting growth companies that also deliver a positive social and/or environmental impact.
The deal was led by partner and Head of the Impact Fund Beth Houghton and Investment Director James Gregson, with support from investment manager Tom Hustler. Both Houghton and James Gregson will join the e-days board as the business looks to develop its employee wellbeing offering.
The transaction was led by Gowling WLG corporate Director Ragi Singh, with support from Associate Victoria Pearson on the acquisition and Stephen Bowman, Jade MacDonald and Fabiano Iesini on the investment terms. Banking Associate Richard Crawley advised on the debt management
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More than 50 representatives of leading Czech businesses gathered in Prague for discussions on blockchain, smart contracts and cryptocurrencies, which was organised by Kinstellar Prague.
“We are very happy that this topic has attracted key Czech business players in this field, commented Zdeněk Kučera, head of TMT and litigation at Kinstellar Prague, who moderated the event. “It is evident that many of them consider blockchain a part of their business model. We have also seen a significant increase in the number of questions relating to these topics from our clients”.
Martina Březinová, head of the Prague banking and finance practice, noted the interest in the law’s impact on digital money. “As our clients were especially interested in the regulation of cryptocurrencies, we addressed this topic in detail,” she added.
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Poor old Theresa May was recently snapped at the EU summit looking uncomfortable sandwiched between Angela Merkel and Emmanuel Macron covering their mouths to prevent journalists lip reading their conversation. Cue much internet hilarity at Mrs May’s expense.
The scene reminded me of many I have seen before, a networking situation where it is evident that some people are natural social networkers while others are clearly not. For a considerable majority, the art of social butterflying does not come easily, and these enforced situations can be a cause of real misery.
For many, this battle (for it is a battle when the pressure is on to step up and perform for the team/the boss /the firm or your career prospects) is made even harder by a condition that affects 3 million people in the UK according to a recent study – Anxiety. This seems to be particularly acute amongst the 20 – 30 year olds that comprise Generation Y, research suggests.
Being forced into a networking situation can quickly become a spiralling circle for anxiety sufferers; the more you try not to think about your anxiety, the more it preys on you. Throw in the pressure of expectation to network successfully and the effect can be catastrophic on the self and potentially damage your general confidence.
I am not going to lay claim to providing a magic bullet, but I do have some tips based on experience and many conversations over the years with those for whom the prospect of networking strikes pure dread into the heart.
If there’s anything I’ve learnt it is that if you cannot out run the beast then at least try to harness it. For many of those who successfully (on the surface at least) manage their anxiety in social situations the key is to reach some kind of acceptance, before moving on to the next stage.
See your anxiety in the context of humankind’s interminable battle with hostile environments – being in a lift with strangers, going in for a kiss when the other person is only after a handshake and attending networking events. Everyone has great advice (my own: a little pre-show preparation, some controlled breathing and a dash of positive thinking can really help), but ultimately it is only you who can find what works for you.
There are practical tips to ease your way through networking situations of course. My best advice is to study the conversation for entry points. Upon identifying the entry point, politely ask to join the group (rarely does this meet with ‘no, you may not’ as a response) and introduce yourself. So far so good – although at this stage it is where most people forget the name they have just heard (because we are so worried about what to say next we don’t listen) – now you need to contribute to the conversation. The daily drudgery of the desk can be dull and few people are as passionate about it as they are about their interests. Find out what those interests are. If you do not share that interest then be curious about it. Ask questions, listen the responses and be interested.
You may not give two hoots for tree-shaping or the opera houses of Eastern Europe, but if your networking spar does then indulge them. People love to talk about themselves, and if they are happily babbling away about their passion, then guess what? You don’t have to keep thinking of new small talk topics. And you know what else? That person will leave your conversation thinking you’re thoroughly good company.
Lastly, do not be under any illusion that ‘everybody else’ around you is breezily at ease. Much like the metaphorical swan moving gracefully across the water, there is a lot more floundering below the surface going on than you can imagine! Take the plunge, go up to people with an open mind and do what normal human beings have been doing for centuries – having conversations. You never know what may come of it.
Luan de Burgh of the de Burgh Group is a professional public speaker and presentation coach. More of his articles can be read here.
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