Senior Associate

PQE: 6 years +
Term: Permanent
Working hours: Full-time (09:30 - 17:30)
Reports to: Head of Department
Team: Banking (Social Housing and Local Government)
Location: London
The firm

Winckworth Sherwood is an exciting, diverse and growing business. Joining our team will see you work with some of the UK’s most interesting clients.

In the last year alone we have:

  • Worked on corporate transactions valued at over £3 billion
  • Advised our developer and social housing clients on over £1.6 billion of residential sales and over £1 billion of refinancings
  • Advised on HS2 which will see the development of over 330 miles of railway network with an expected £59 billion benefit to the wider economy
  • As if that wasn’t enough, we are also involved in the transformation of Battersea Power Station and act for the majority of London’s major Housing Associations who together own assets of over £17.3 billion.

However it’s not all about big numbers and high-profile projects; the real success of our business comes from the ability of our teams to provide fantastic service and create long-lasting relationships.

 

The role

Winckworth Sherwood has a strong finance team consisting of Partners with City (including Magic Circle) experience and a number of Associates from a wide range of backgrounds.  The Finance team has an integrated approach blending banking, charging, corporate, tax, real estate, development and regulatory matters with access to more than 140 professionals to provide additional expertise when required.  This enables us to offer clients the highest quality work without compromising on service.

Currently as part of one of the largest Social Housing teams in the UK, we work closely with our Local Authority, Corporate and Commercial, Institutional Investment and Charity departments.  We have a varied practice, originally with a focus on social housing finance and property backed transactions in the UK, but more recently over a wide range of practice areas.  Our clients include the largest housing associations in the UK such as L&Q and Clarion who essentially now act as high end property developers.

We have recently acted on deals as diverse as a convertible bond for student accommodation, financing for car park providers, funding for the acquisition of a petrol station chain, and government guaranteed PRS funding.  Our wider finance team has advised clients on private finance transactions with a value of over £5 billion.  We have many years’ experience in supporting clients (both as lender and borrower) in traditional debt, capital markets, institutional finance, structured transactions and placing security.

Our team is expanding and we now have an exciting new opportunity for an ambitious senior associate with banking experience to help to build our rapidly growing practice.  This is a role that opens up the genuine possibility of partnership for individuals who make a real contribution.

 

The team

There are currently 2 partners in the team and 7 associates.  We are also recruiting an additional partner and a junior solicitor as we are planning on expanding the team.  There is a great deal of cross-practice work with partners in other departments, in particular Corporate & Commercial, Real Estate, Tax and Construction.

Client base and type of work

Over the last few years the team have used their expertise and understanding of the sector to help clients such as M&G Investments and First Abu Dhabi Bank to evolve and document new funding structures.  The team advise a variety of clients of all sizes, including some of the largest housing associations (11 of the G15), charities, corporate borrowers and funders.  They also advise on innovative alternative finance structures, including equity funding and SPV structures as well as joint arrangements with local authorities, developers and third party investors.

The team regularly act opposite large city firms, including the likes of Clifford Chance, Allen & Overy, Addleshaws and Pinsent Masons, as well as the specialist firms like Trowers & Hamlins and Bryan Cove.

Candidate specification

The ideal candidate must have banking experience in secured and unsecured loan transactions.

Capital markets experience (private placements and bonds) would be an advantage but not essential, as is real estate finance experience.

You will need to:

  • Have excellent technical skills

  • Manage and lead transactions

  • Have strong client relationship skills

  • Manage and supervise junior members of the team

  • Be able to build a client base

  • Take a proactive role in marketing and building the practice

Recent work highlights

£44.3 million loan facility for shared ownership portfolio for Genesis Housing Association with Aviva.

Advising L&Q on the £800 million regeneration of Purfleet, including the funding arrangements.

Advising Vivid on two recent private placements with US investors and on the restructuring of their loan portfolio.

Advising Longhurst on a bond issue for £200m and also a new revolving credit facility and restated facilities for the group as part of the restructuring of their loan portfolio.

Acting for M&G in relation to structuring their social housing direct investment product and advising on £175m aggregated product for 17 issuers.

Acting for BAE in relation to private placements, including for social housing providers.

Acting for A2 Dominion in relation to the funding of several JV development sites with Mount Anvil.