I'm interested in commercial lending law, and my goal would be to be in a legal position assisting with commercial loan transactions, negotiating contract terms and language, reviewing UCC filings and provide legal advice, etc.
My previous experience is in commercial lending but i'm considering going to law school. I've been a credit analyst/underwriter for two years at an investment bank. My experience at my job has primarily been with finance and financial analysis, but I also do loan documentation, review UCC filings, loan agreements, and ensure that our security interest is perfected. Our legal counsel provides advice to the credit analysts on loan documentation language, UCC filings, etc. and this is pretty interesting to me.
The problem I'm facing is that my knowledge of legal jobs related to this field are limited. All of my past experience is finance/economics heavy. I've done research but I'm having trouble figuring out what types of jobs (or job titles to research)/internships/firms I should target in order to put me in a good position to be in this sector upon graduating.
Can someone provide any insight?
Commercial Lending/Transaction Law? Forum
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heythatslife
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Re: Commercial Lending/Transaction Law?
Looks like you already have the experience you need to make a convincing case for why you want to work in this field. A lot of people enter it without any prior experience. The reason you can't find specific "job titles" is that everyone is just called an associate when you enter a law firm.
Aim for T14, do well in school, and target law firms that have strong banking & finance practices. Then, stick around or transition in-house after a few years.
Aim for T14, do well in school, and target law firms that have strong banking & finance practices. Then, stick around or transition in-house after a few years.
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Anonymous User
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Re: Commercial Lending/Transaction Law?
This is usually called "the Debt group" or leveraged lending or Finance (not to be confused with corporate finance) at most law firms.
You would be gobbled up if you expressed an interest in this area and had decent 1L grades--it's hard to find business-minded law students who are interested in this area from the get-go because (1) Most law students don't know about this area of law and (2) Most law students don't know enough accounting to even understand have of the covenant ratios and lending standards.
My brother is a counsel in this type of law. He's done it the whole time and loves it. Cravath, Latham, Proskauer, Goodwin, Kirkland...many law firms have good bank groups. You want to look for debt finance (different from debt capital markets).
I will also caution that it is harder to be "portable" at this type of law. It's not uncommon for the vast majority of these jobs to be in NY or other major money centers. It'd not something that's super-common in say, Cleveland. For reference, my brother is in Charlotte at Moore Van Allen.
Good luck.
You would be gobbled up if you expressed an interest in this area and had decent 1L grades--it's hard to find business-minded law students who are interested in this area from the get-go because (1) Most law students don't know about this area of law and (2) Most law students don't know enough accounting to even understand have of the covenant ratios and lending standards.
My brother is a counsel in this type of law. He's done it the whole time and loves it. Cravath, Latham, Proskauer, Goodwin, Kirkland...many law firms have good bank groups. You want to look for debt finance (different from debt capital markets).
I will also caution that it is harder to be "portable" at this type of law. It's not uncommon for the vast majority of these jobs to be in NY or other major money centers. It'd not something that's super-common in say, Cleveland. For reference, my brother is in Charlotte at Moore Van Allen.
Good luck.
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Anonymous User
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Re: Commercial Lending/Transaction Law?
I had significantly worse WE than you (margin operations at an IB) and was able to spin this very well during CB's in NYC for debt work. I don't think you'll have any problem answering any 'why this firm' questions.
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