Where have all the derivatives specialists gone?

  • Print
  • Comments (3)

Readers' comments (3)

  • non-existing deravites lawyers in Poland

    I am a lawyer who loves derivatives and the stock market, but observing the legal market in Poland, it seems that derivatives remain the domain of the economists not the lawyers. Law firms (including mine) aren't interested in 'derivatives lawyers'. I dare think many of them don't know what the term means.

    Unsuitable or offensive? Report this comment

  • The legal work is too dry

    As a so-called ‘derivatives lawyer’ myself in a magic circle firm, to my mind the main reason for the inability to attract and retain derivatives associates is that the legal work is so dry and tedious. Ultimately, the ‘sexy’ aspect to a derivatives deal is the financial/business side. Very few lawyers, including the partners, have a decent understanding of this. Most associates are keen to jump ship to a bank as soon as they can and then try to move over to the business side.

    Unsuitable or offensive? Report this comment

  • Securities and Derivatives

    I was blooded into the derivatives world via securities law in the retail structured products team of a leading investment bank, having come from a corporate/commercial background. Two points I would note are that the difference between derivatives lawyers and securities lawyers that do derivate-based work is small. They both have to grasp the technicalities of ISDA contracts and the underlying markets referenced by the derivative in question. Second, I agree that technical knowledge required to reach general competence is quite high, but it is far more common to specialise is a specific field, soak in the knowledge, and then perhaps grow into a generalist. The intellectual challenge is itself v rewarding if you are the right sort of lawyer. The danger is actually when the work becomes commoditised (as in most in-house roles) and it just becomes a drudge.

    Unsuitable or offensive? Report this comment

Have your say

Mandatory Required Fields

Mandatory

Comments that are in breach or potential breach of our terms and conditions in particular clause 8, may not be published or, if published, may subsequently be taken down. In addition we may remove any comment where a complaint is made in respect of it. These actions are at our sole discretion.

  • Print
  • Comments (3)