After making the transition from Clifford Chance partner to HSBC (Australia) in-house counsel, Amanda Parshall reflects on the rewards and challenges of leadership

Amanda Parshall never really wanted to be a scientist - which is why, after completing a science degree at Cambridge University, UK, she promptly began to explore other career options. And, fortunately for this high achieving student from Northumberland, most in her circle of university friends were aspiring lawyers, which made the decision to move from science to law an easy one. It was also a decision that paid immediate dividends for the young and ambitious Parshall as, with two full years at law school ahead of her, Clifford Chance made her an offer she couldn't refuse. "The job Clifford Chance offered me was to start in two years - they took a punt on me!" she recalls.

When asked if her science background helped to impress the recruitment team at Clifford Chance she laughs. "Law and science are both logical and intellectual," she says, "and I like the intellectual side of the law ... you have to have a mind that can think problems through. They are both solutions-orientated though ... maths and science are both solution-driven - as is the case with law," she adds.

She spent the first two years after graduation 'in the fast lane' between London and Paris - advising clients on complex matters related to financial services and taxation - then she set her sights on a leadership role with the firm. Soon after that, the rising star was fast-tracked to partnership - at the age of 31 - an achievement she regards as a major career milestone. "I was quite young, and I hadn't been qualified all that long," Parshall remarks.

She was appointed to partner at Clifford Chance in March 1997, just five years after her admission as a solicitor in England and Wales. By then, however, she had moved from Europe to Hong Kong, on the eve of the historic transfer of sovereignty from Britain to the People's Republic of China. "It was an extremely busy time, Hong Kong was booming - there was the handover, then came the Asian economic downturn so there was a huge amount of work for a lawyer,"
she recalls.

After nine years of service to the firm that gave her her first career break, Parshall thought a change was due, and after discussing it with her sister already residing down-under, she thought it would be wise to make her way to Australia.

On arrival, she acted as special counsel at Freehills, prior to accepting her first in-house role at Zurich Scudder, one of her former Hong Kong clients. The acquisition of the company by Deutsche Asset Management paved the way for Parshall to become general counsel at HSBC in Australia in 2002. How is she coping with the increased scrutiny that financial institutions are under in light of the global economic downturn?

"Personally, I have seen the bad times as well as the good ones," she says. "We were in the middle of a recession when I started work - it wasn't a great time in London in the early 1990s ... and then there was the Asian meltdown in the late '90s. Yes, certainly - personally - you know that everything is not all roses, but it's just something you've lived through before."

At HSBC Australia, which operates through a subsidiary of its British parent, Parshall leads a team of eight lawyers, and supervises the company secretary and a compliance team - which makes about 26 people in all. "I am also a member of the leadership team here - the senior executive team. We are responsible for leadership of the bank as a whole and its commercial success "

According the Parshall, the most rewarding part of her role has been taking a the legals of a commercial project from beginning to end - something often not required in her previous roles at Clifford Chance.
"When we acquired Westpac's sub custody business for example, you are there at the beginning, working through the documentation and you are at the signing, while the law firm lawyer goes back to their desk at that point - and on to the next deal. But we don't end there - we sit down with the business and monitor how it's going right through to completion. We observe the business we've bought, and how it is earning revenue for the bank. So you really see it through - you're part of something," she adds

Having had the privilege of working as a partner at one of the world's leading commercial law firms, and as in-house counsel at a leading international bank, Parshall has developed an appreciation of the nuances involved in each role. "The two roles are the same - but different. You have to be a good lawyer in each case. "In terms of being able to nurture young lawyers, it was something I really enjoyed, and you can do more of that as a partner than I can in my current role because I'm dealing with more experienced lawyers now.

"A core part of my role is managing the team and leading it - to provide an excellent service. Then obviously being part of the executive team is part of my role as well. They often say general counsel do not spend a lot of time on the law, but I still need to be across the issues because when the difficult question comes up - you have to be there, answering it."

When asked about the challenges of managing staff, Parshall responds diplomatically. "Managing staff is rewarding and also challenging, but it's a rewarding challenge in a way. It's not a 'bad' challenge, making sure your staff is engaged, planning career paths, ensuring we are providing the best advice - and we are seen as valued... "

Parshall confesses she typically spends a quarter of her time on the law and the other three leading and managing her team. When asked if she misses the camaraderie associated with large law firms, she reveals that a similar trend is developing in that regard at HSBC. 

"It's not something that I have made a point about, but it happens as part of general team building. I had the whole team around at my house for Melbourne Cup!" she says. ALB