1. Can you tell me about some of the challenges that you face in your job now?
M&A remains a very male-dominated industry and this comes with its challenges. A very recent example is being asked when at MAWW conference in London “so what will you do when the conference is over, what will your job go back to being” – the wider context being this insinuated I was part of the conference planning team and not in a lead advisory role. (I would prefer this specific example not to be included but wanted to share for reference).
Networking generally has been tougher as a female. When I first started out in M&A, I found it difficult to create a network around me as often others would meet for a beer or play golf. I found it difficult to suggest meeting for a drink to some men and therefore refrained from doing so. This has very much changed now but still can be challenging.
More broadly, doing deals off the back of the pandemic, general elections, cost of living crisis, war (and more!) have become tougher. Deals are taking longer; diligence is more heavily scrutinised and we’re seeing more deals fall over at the final hurdle. As a more junior member of the team, this is really frustrating after working on something for long periods of time and not seeing it get over the line.
2. What kind of skills do you think will be needed in the future as a financial advisor?
Ability to be dynamic to ensure that we meet the demands of change.
3. How important is the acquisition of soft skills, and cultural sensitivity as business becomes more focused on cross border deals?
Soft skills are key in M&A and particularly important with cross border deals. Communication is even more important particularly if you are navigating different time zones. Often, one partner will be picking up at a time when another partner may be logging off for the day. Ensuring that you have clearly articulated the status of the deal, and any required actions is critical to ensure that a deal keeps momentum and doesn’t slow down due to being in different locations.
All parties should try to ensure that they are sufficiently educated on differing cultures. Understanding things like weekends and religious holidays allow individuals to be accepting of differing working patterns and work around this especially during busier times within a transaction. Being informed of cultural diversity is also important for general interaction between individuals.
4. What challenges or pitfalls do you face today in the geo-political arena that can have an impact your dealmaking?
Geo-political factors can have a significant impact on the financial performance of a business and can cause a business to need to pivot their strategy quickly. This has resulted in some of my deals falling over during a process as the business has missed budgeted performance.
5. What advice would you give to a youngster looking to start out as a financial advisor?
The best way to learn is through experience. Put your hand up to get involved as much as you can. Ask questions, and always be prepared to learn.
Network young and always leave a positive impression. You never know how that conversation might benefit you in the future. For example, I was doing some buy-side work for a client and spoke with a potential target. They weren’t in a position to sell at the time and it didn’t work out for my client at the time. A year or two later, I had a call from the target and was told he liked the way I approached the business and I left a good impression. We ended up being mandated by that client and later sold their business.