Banking and Finance at Ashurst | Career Guide

Ashurst is routinely regarded as a full-service firm with particular strength in cross-border banking and finance, often acting for lenders, arrangers and corporate borrowers on multi-jurisdictional financings. The team is known for combining UK onshore expertise with project and structured finance capability in markets such as Australia and Asia. That reputation is reflected in regular mandates involving syndicated facilities, large acquisition financings, export credit agency-backed deals and complex creditor arrangements in restructuring work.

The practical implication for trainees is that you will often be exposed to:

• Cross-border mandates requiring coordination with overseas offices and local counsel.

• Documentation for both bilateral and syndicated facilities, including security packages and intercreditor arrangements.

• Regulatory and compliance work linked to lending, such as sanctions screening, regulatory capital implications and AML considerations.

If you are assessing the team, use firm directories (Chambers Student, Legal 500), business press (Financial Times, IFLR) and firm deal lists to triangulate the team's recent work. YourLegalLadder's Ashurst profile and market intelligence can be a practical source alongside those publications.

Ashurst covers the full banking and finance spectrum. Expect to rotate through or assist on matters such as:

• Acquisition and leveraged finance: Work on facility agreements, sponsor arrangements and covenant drafting for corporate buyers and lenders.

• Project and infrastructure finance: Involves long-form documentation, security trustee arrangements and interaction with export credit agencies or multilateral lenders for energy and infrastructure projects.

• Securitisation and structured finance: Drafting special purpose vehicle documents, transfer mechanics and investor documentation.

• Restructuring and workouts: Advising lenders and creditor committees on distressed loans, standstill agreements and enforcement strategies.

• Debt capital markets and derivatives: Supporting bond issuances, debt issuance programme documentation and ISDA negotiations for interest rate or FX hedging.

Practical example: A trainee might draft a facility amendment for a syndicated loan, co-ordinate execution logistics across three jurisdictions, and prepare a short briefing note for senior lawyers explaining the impact of a covenant waiver. That single experience helps you learn drafting precision, deal project management and commercial explanation skills.

Strategies to get relevant experience while applying:

• Target applications and interviews with examples showing familiarity with facility agreements, security structures or project documents.

• Use secondments and vacation schemes to request placement with banks or corporate clients so you gain insight into the lender or borrower perspective.

Ashurst provides structured training through its graduate and trainee programme, supplemented by on-the-job mentoring. Key elements to look for and ask about in interviews include:

• Formal training sessions and technical workshops covering loan documentation, security, intercreditor mechanics and regulatory topics.

• Buddy and mentor systems where junior lawyers receive day-to-day guidance and career development reviews.

• International secondments to offices in Asia, Australia or continental Europe, and client secondments to banks or corporates to see transactions from the client perspective.

• Opportunities to support partner-led pitches and new business, which helps develop commercial awareness and client skills.

How to make the most of training opportunities:

1. Prepare a learning plan. Identify three technical topics (for example, covenants, security enforcement, sponsor support) and ask supervisors for tasks that increase responsibility in those areas.

2. Volunteer for drafting tasks. Even tidy-up drafting or comment letters teach clause logic and contractual language.

3. Seek feedback after each matter. Use short written notes to log feedback and actions for improvement.

For those on the SQE route, Ashurst recruits candidates with various qualification backgrounds. Demonstrating familiarity with finance concepts and practical drafting experience will be advantageous. Use YourLegalLadder's SQE question banks and Ashurst firm profile alongside other prep resources to shape study and practical revision.

A typical junior day in Ashurst's banking team mixes technical work with project management and client-facing tasks. You may:

• Draft or redline clauses in facility agreements, amendments or security documents.

• Correspond with counsel in other jurisdictions to resolve local law points (eg enforceability of security, registration requirements).

• Prepare closing checklists, completion mechanics and funds flow diagrams.

• Sit in on client calls and partner meetings to observe negotiation tactics and commercial decision-making.

Ashurst places emphasis on teamwork and technical excellence. Trainees who show reliability, clear drafting and commercial thinking can progress to associate roles and ultimately to senior associate or partner, often specialising in a sub-sector such as project finance or restructuring.

Career progression strategies:

• Build a specialist interest. Becoming the go-to for a topic (for example, project finance in renewables) increases your internal visibility.

• Track and showcase deal responsibility. Keep a short deal log recording your tasks and outcomes that you can use in appraisals and future applications.

• Develop market-facing skills. Draft client-facing updates, participate in pitch preparation and contribute to thought leadership (briefs, client alerts).

Competition for training contracts in banking and finance is strong. Use targeted strategies to make your application stand out.

CV and cover letter tips:

• Tailor examples to banking. Include clear, concise bullet points showing drafting, negotiation or project management experience rather than generic teamwork statements.

• Quantify where possible. For example: "Drafted term-sheet and assisted in documentation for a £250m acquisition facility; coordinated five counsels across three jurisdictions."

• Demonstrate commercial awareness. Refer to a recent Ashurst deal or market trend and outline a short commercial implication.

Interview and assessment centre preparation:

1. Rehearse technical explanations. Be able to explain what a covenant is, why security is taken, and the role of an agent in a syndicated loan in simple terms.

2. Prepare STAR answers for competency questions (eg times you showed resilience or managed competing deadlines). Focus on outcomes and what you learned.

3. Practice commercial awareness questions. Read recent financing stories in the Financial Times, IFLR, The Lawyer and Ashurst's own deal news; prepare two or three talking points that link market developments to legal risk or opportunities.

4. Mock negotiations. Practice a short negotiation on a commercial clause with a friend or mentor to show your capacity to balance legal and business objectives.

Resources to consult:

• YourLegalLadder for firm profiles, training contract tracker and mock assessment tools.

• Chambers Student, Legal Cheek and LawCareers.Net for market commentary and application advice.

• IFLR and Financial Times for transaction coverage and trends in debt markets.

• Practical law and industry guides for technical refreshers on loan documentation and security law.

Final practical strategy: Choose three recent Ashurst finance matters from public sources and prepare a one-page briefing for each that covers (1) the parties and structure, (2) key legal issues, and (3) two practical questions you would ask a partner if given a seat on the deal. That exercise develops both technical knowledge and a rounded commercial perspective interviewers expect.