MSc Law and Finance

Ekaterina Kitanina

MSc in Law and Finance 2010-11
Associate, Hannes Snellman, Russia – Full Time Student and Bursary Winner

"I started my professional career in one of the major international law firms, Baker & McKenzie that I joined as an Intern. After completing my Master degree in Civil Law at the Faculty of Law of Moscow State University summa cum laude I was promoted for a position of a Trainee and then a Junior Associate. Then I upgraded my knowledge, completing a PhD degree in Business Law at the Faculty of Law of State University – Higher School of Economics, which led me to develop my professional career. So I joined Hannes Snellman, a Nordic firm with a strong foothold in Russia, as an Associate.

I have been practicing in the sphere of corporate and commercial legal issues but as my background was purely legal, I felt that in order to understand the core concepts underlying any M&A transaction I need to have basic knowledge of economic aspects. So I decided to apply for a degree relating to financial and banking services – either LLM in Banking and Finance or MSc Law and Finance course. Although I had been offered places by almost all top law schools, I made the best choice by selecting Queen Mary. First of all, after careful selection of the proposed programmes I decided to develop fully my economic knowledge to supplement the legal one, so made a choice in favor of MSc Law and Finance programme. Secondly, Queen Mary University of London is well-known for providing not only excellent research opportunities but also for delivering business concepts and approaches which is so valuable nowadays.

The MSc Law and Finance programme allow the students to choose the modules to be attended depending on the practical needs for the future profession. There are 3 specialisations – 1) Banking and Financial Services, 2) Law and Financial Regulation, 3) Law and Corporate Finance, so there is an opportunity to select between them according to the career path chosen. I really enjoyed my time here, as I had the opportunity to meet outstanding people and get a truly international experience."

Nana Esi Atsem, UK

MSc in Law and Finance 2009-10

“Prior to joining Queen Mary, I was an anti-money laundering compliance officer at Deutsche Bank, working on contract. I was also an intelligence officer at the UK Financial intelligence unit prior to joining Deutsche Bank. My contract was not renewed amid the financial crisis and so I was seeking other employment mid year onwards and toying with the idea of going back to study if I found nothing suitable. I had always wanted to pursue postgraduate studies but had not been too sure in which subject and I never really found the best time to do this. I always had a keen interest in the governance of financial markets especially financial regulation and combating money laundering. I selected Queen Mary not only because of its stellar academic reputation but also because of the diversity of students. Without a first degree in law this was daunting but I took comfort in knowing that my lecturers were a combination of very advanced academics with immense knowledge and expertise in international financial law and economic theory as well as leading practitioners who were able to bring practical insights and experience into the classroom. I also had the belief that my chosen course would be an invaluable progression for my career.

The MSc Law and Finance programme has provided me with the opportunity of studying a wide range of issues affecting financial markets today. The multidisciplinary nature of Law and Finance is developing my understanding of complex regulatory issues facing financial markets. The MSc in Law and Finance offers three specialisms; law and banking in financial services, law and financial regulation as well as law and corporate finance. Specialising in law and financial regulation presents me with a fascinating insight into banking laws and regulations, and how it impacts upon finance and economic decisions. Furthermore, modules such as regulation of financial markets enhance my understanding of the complexities that financial institutions face when complying with regulations and the legal foundations of international monetary stability. Regulation of financial markets tackles issues such as the “too big to fail doctrine”, moral hazard, capital regulation, central banking independence and accountability as well as specialist areas such as the regulation of securities business, hedge funds, financial derivatives, insurance, market abuse and insider dealing amongst others. These are issues being discussed at very high level (amongst various regulators, academics and policy makers around the world) in an attempt to prevent other financial crises from taking place. Being able to combine studying economics and law has been amazing to say the least and so this course has been successful at demonstrating the interplay between the two subjects. As part of the final assessment of one of my economics modules (financial economics), we were presented with five essay questions taken from a competition run by the International centre for financial regulation (ICFR) and the Financial Times. This was the ICFR’s inaugural research contest since their establishment just over one year ago. We were required to write a 5000 word essay on one of five themes.

I chose to answer the following question - What works best for banking regulation: market discipline or “hard-wired” rules? The competition aimed to promote research and discussion consistent with the agenda of the G20 on transparency, integrity, appropriate risk management and reform of international financial institutions. I was happy to learn in February 2010 that I was chosen as the outright winner of the competition and received a prize of $7,500. As if that was not enough, my story was featured in the Financial Times and my paper was also published on the ICFR’s website. I can only say that this provided me with further confirmation that I made a brilliant decision to study at Queen Mary and pursue my chosen MSc pathway.

What do I hope to do after the course? Well I now realise that I have a variety of areas I could work in once I have successfully completed the course. It would be my dream to work in an area where I can use knowledge gained from my postgraduate studies. Employment with a regulator, central bank or any popular organisations that focus on the growth of developing nations whilst limiting problems associated with poverty and poor investment would definitely be a dream come true. All I need to do now is pass my exams.”

Rebecca Thorpe, UK

MSc in Law and Finance 2010-11
Consultant Bovill, Part-Time Student

"The seed of the idea of undertaking a postgraduate course was planted back in 2006 by one of the partners of the firm that was my previous employer, Deloitte, when I was working in their regulatory consulting practice. But then soon after I moved to Bovill (a small boutique regulatory consulting practice) and with the challenges that helping grow a small consulting firm bring, somehow I didn’t get around to pursuing it seriously for another four years.

I was looking to push myself and broaden my academic horizons (and in my opinion a consultant that thinks she knows everything is a bad consultant!) And whilst I have spent the last eleven years making a career out of financial regulatory consulting, and collecting various industry qualifications along the way, I have always been conscious that, unlike the professions of law or accountancy, there is no recognized formal qualification path one must take as a management consultant.

I chose Queen Mary for its excellent reputation, and because the newly established Law and Finance Masters seemed the perfect fit for furthering my career in financial regulation. It also suited my mathematics background, which was the subject of my first degree from the University of Durham in 1999. The fact that it was twelve years since I had sat any degree level exams was a little daunting, but also part of the challenge.

And it has very much been the correct choice. I am taking the course part time, over two years. Although it wasn't quite the plan, I still seem to be working full time as a Principal at Bovill, and the time pressures of balancing work, study and lectures have made it especially tough. But challenge is what I was looking for, and my colleagues and clients have been understanding and supportive.

The MSc in Law and Finance has surpassed my expectations in terms of the quality of teaching, and access to professionals in their field. The combination of law and economics modules provides new depth to thinking about very current and very topical issues, for example through examining and dissecting the root causes of the financial crisis. It has been refreshing to hear new views, and the teaching has provided more formality to my understanding of the subject of law in particular, and an approach to problem solving using more formal quantitative research techniques. The course has renewed my interest in my subject.

Particularly interesting have been the guest lecturers that have been invited in- from a visiting overseas lawyer that is a specialist in US securities law to a volatility trader working in one of the largest investment banks, all of which helped bring the subjects alive and encouraged thinking about the subject matter from a different and very practical, as well as academic, angle. What I hadn't expected was how my fellow students would enrich the experience - I have made new friends, from many nations, and this has definitely helped make some of the challenges much easier and lectures very enjoyable.

I'm not going to pretend that the time pressures of balancing work and study has been easy (there are only a hardcore handful of fellow students willing to attend lectures from 6 until 9pm on a Friday evening) but I am lucky to have a very understanding and supportive husband."

Sanja Panjkovic, Serbia

MSc Law and Finance 2009-10

“After completing my LLB and LLM studies in the field of International Commercial Law at the Faculty of Law University of Belgrade, I started my professional career in the leading law firm in Serbia, Karanovic-Nikolic, which is mostly engaged in the provision of legal services to the overseas clients. By working in practice, I realized that in order to provide clients with the best and most efficient assistance, I needed not only to understand regulatory framework, but also to be aware of economic goals to be achieved and economic justification of certain business actions. That is the main reason why applied for MSc Law and Finance course at Queen Mary, University of London.

The MSc Law and Finance programme offers a unique opportunity to study both law and economic modules with the purpose of enabling students to both fully understand economy and finance but also its legislative framework. Lecturers encourage critical thinking and there is strong emphasis on both quantitative and qualitative research methodology, as well as an opportunity to study cases from both developed and developing countries.

I am truly convinced that the MSc Law and Finance course at Queen Mary was the best choice for me. I find it a highly structured program, as it provides the right balance between theory and practice but also it includes both the knowledge necessary for individuals working in emerging economies and covers the latest developments in the law sector of finance, banking and financial institutes.

However, studying at Queen Mary gave me something more than just academic knowledge. Due to its vibrant and cosmopolitan atmosphere at the university I have made friendships, that I am sure will last long after I finish this programme. I have no doubt that pursuing the MSc Law and Finance course at Queen Mary would be the most significant landmark both for my future career in Serbia and also my life.”