Matthew Clayton-Stead

Associate

I graduated in 2002 with a degree in modern history and politics, but it was only quite late on that I decided I wanted to pursue a career in law.  I wanted to do a job that challenged me mentally, but I never felt that I had an entrepreneurial spirit.  I’m very happy to be doing challenging work assisting entrepreneurs in what they do.

When I was applying for training contracts, the big attraction about Pinsent Masons was the fact that one of the people who interviewed me was exactly the sort of person I felt I’d like to be in ten or so years’ time – interesting, engaging, really positive and enthusiastic.  I didn’t get that feeling from other firms – being friendly and approachable is something we’re really quite good at.

I work in the Banking & Restructuring team as a transactional lawyer, documenting loans, mostly for the main UK clearing banks.  Because I’m relatively junior I cover a wide variety of work, including real estate finance, acquisition finance and project finance such as building schools and hospitals.  A personal highpoint was when I was sent on secondment to Barclays global headquarters in London.  It was really illuminating to work directly with clients as part of their team – having coffee and lunch together, day in, day out.  There’s no substitute for it if you want to understand them as people.  It’s definitely made me a better lawyer.

My career hasn’t exactly panned out as expected.  I did my training in the boom years, and qualified in the week of the run on Northern Rock.  Basically, I’ve spent the last four years immersed in a number of banking sector crises. It was a very stressful time for everyone – for a few months, you just did not know what the market was going to do next.  But then, it’s also presented new opportunities – like working on re-structuring deals and businesses’ efforts to raise cash. It’s been an interesting journey, you could say…

What makes a good trainee?  Two things – enthusiasm and a willingness to learn.  You’ve got to be up for it, embrace the work and take the rough with the smooth to an extent.  There’s a misconception that you can’t make any mistakes as a trainee and I think that's wrong.  Making mistakes is a great way of learning – but the key is not to repeat them!