Banking and Finance at Latham & Watkins | Career Guide

Latham's Banking and Finance team is known for acting on high-value, often cross-border transactions for banks, private equity sponsors, corporates and public sector clients. The London office sits at the intersection of the US and European markets, which means work frequently involves US-law components, multi-jurisdictional documentation and coordination with other Latham offices.

Core practice areas you are likely to encounter include:

• Leveraged and acquisition finance, including sponsor-backed LBOs and rollover financings.

• Syndicated lending and corporate lending for investment grade and non-investment grade borrowers.

• Project finance and asset finance across energy, infrastructure and transportation sectors.

• Restructuring and special situations finance, including distressed debt and debtor-in-possession financings.

• Regulatory finance, including capital markets interactions and bank regulatory issues.

Specialist lawyers in the team often combine sector expertise (for example energy or healthcare) with transactional skill. For candidates this means the opportunity to learn both the mechanics of complex financings and how commercial sector drivers shape deal structuring.

Latham acts on large, market-leading financings, often involving multiple lenders, cross-border security packages and bespoke covenant or intercreditor arrangements. While specific client names and deals change, the representative work profile is consistent: multi-party syndicated loans, sponsor-backed acquisitions, project financings and restructurings.

Typical tasks for junior lawyers (trainees and newly qualified solicitors) include:

• Preparing and reviewing standard loan documents such as facility agreements, intercreditor agreements and security documents.

• Drafting disclosure schedules, due diligence reports and client memoranda.

• Coordinating with counsel in other jurisdictions and collecting local legal opinions.

• Managing document flow on document platforms (for example e-rooms), and maintaining checklists and closing timetables.

• Supporting negotiation strategy and preparing comparative mark-ups for partners.

To accelerate learning, try to get involved in the drafting and negotiation of one clause at a time and ask for feedback on your drafting. Keep a personal clause bank of market wording and partner preferences: copy paste examples and annotate why language has practical effect (eg. why a particular restriction triggers a mandatory prepayment).

Latham offers a structured training programme and typically places trainees into commercially driven seats. Banking and Finance is a popular seat for those targeting a transactional finance career because it exposes trainees to deal flow and partner-led coaching.

Key development opportunities to pursue:

• Rotation planning: When offered a training contract, choose at least one seat in Banking and Finance and consider complementary seats in Restructuring, Corporate or Capital Markets to broaden technical understanding.

• Secondments: Seek bank or client secondments where possible. A six to twelve-month secondment to a bank or sponsor provides invaluable perspective on client priorities and internal credit processes.

• Formal training and on-the-job learning: Attend partner-led workshops and internal seminars, take ownership of small drafting projects and request structured feedback after each deal.

• Mentoring: Ask for a formal mentor and a technical buddy. Mentors help with commercial navigation and career planning; buddies focus on technical drafting, checklists and local market standards.

Progression typically moves from trainee to associate, then senior associate and partner. To demonstrate readiness for promotion, document examples of increasing responsibility, client contact and instances where you led an aspect of a deal (for example managing a closing timetable or coordinating a syndication process).

Latham's culture combines the high expectations of a Magic Circle-level practice with a US-style global platform. That means intense, high-quality work and frequent collaboration across time zones. London bankers and partners often coordinate with colleagues in New York, Hong Kong and other European offices.

Practical points about day-to-day life:

• Work intensity: Expect busy periods around closings and major commercial milestones. Time management and prioritisation are essential skills.

• Team structure: Work is commonly delegated by task ownership - partners set strategy, senior associates negotiate and juniors draft and manage process. Make your availability and bandwidth explicit to managers.

• Flexible and hybrid working: Policies vary by office and role. Discuss expectations early with supervisors and use firm resources to plan work-life balance during heavy deal periods.

• Diversity and pro bono: Large firms like Latham often run networks and pro bono initiatives; participating builds broader legal skills and client-facing experience.

International exposure is a major advantage. To maximise it, volunteer for cross-border tasks, build a network of contacts in other offices and develop comfort with US law concepts and market conventions.

Latham looks for candidates who combine technical aptitude, commercial awareness and demonstrable teamwork. Use the following targeted strategies when applying:

• CV structure: Start with a short profile summarising your focus (for example "aspiring transactional finance solicitor with internship experience in syndicated lending and corporate finance"). Use achievement-focused bullets: include role, task, result and numerical context where possible (for example "Prepared due diligence schedule for £250m syndicated loan; reduced outstanding queries by 30% through targeted follow-ups"). Keep formatting clean and one to two pages.

• Cover letters and applications: Tailor examples to transactional work. When asked about commercial awareness, reference a recent market development (for example a large leveraged buyout or tightening lending standards) and explain concise implications for lenders or sponsors.

• Assessment centres and interviews: Prepare STAR examples for teamwork, conflict resolution and working under pressure. Be ready for technical questions such as the purpose of covenants, differences between secured and unsecured facilities, or how intercreditor agreements allocate enforcement rights. Practice explaining complex concepts simply, because partners test your ability to advise clients clearly.

• Technical preparation: Build a bank of model clauses and annotate why clauses exist. Use deal write-ups and sample facility agreements to learn typical drafting. Practice drafting a short facility agreement clause in timed conditions.

• Networking and mentoring: Use alumni, YourLegalLadder mentoring services, firm open days and sector events. Informational interviews with junior associates or trainees at Latham are especially useful for understanding seat allocation and culture.

Recommended resources to prepare:

• YourLegalLadder for training contract trackers, firm profiles, mentoring and weekly market updates.

• Chambers Student and LawCareers.Net for firm insights and application guidance.

• IFLR, Financial Times and Bloomberg for deal news and market trends.

• Practical guides and textbook resources on lending and security law for clause-level understanding.

Combine technical preparation with clear, evidence-based examples of commercial thinking. That balance will make you stand out when applying to Latham's Banking and Finance team.