The Czech Republic won me over in the early 1990s

I have spent most of my career in Central and Eastern Europe. I am fascinated by the entrepreneurial nature of local businesspeople, says Rob Irving of the law firm Dentons, who has worked in cities ranging from New York to Prague to Mumbai.

Rob Irving had a cosmopolitan youth and was educated in three very international cities, which „exposed him to different mindsets.“ He likes to say that he was raised for the life he leads. During his career to date, he has been involved in transactions in 70 countries around the world, but his heart lies in Central and Eastern Europe. „I suppose that I’ve been attracted by the great variety of people, particularly entrepreneurs, whom I meet in M&A transactions,“ he says in an interview conducted as part of the Global Minds project. In 1991, he was offered a two- to three-month assignment in Prague, but he became so captivated by the Czech Republic that he stayed for three and a half years. He then spent 27 years with his family in Budapest, and now his career  is about to bring him back to the Czech capital. " The beauty of the capital and the countryside, the openness of the Czech people and the love of outdoors and sports are all still there. But, in the meantime, the country’s infrastructure and the livability have both been significantly enhanced.," he says, describing his impressions upon returning after 30 years. He also says that he tries to surround himself with people who make up for his weaknesses and encourages his colleagues to lead a balanced life, because a career in international M&A is a marathon, not a sprint.

Your CV lists three universities – history at Yale, a degree from the highly prestigious Ecole Supérieure de Commerce de Paris business school, and a doctorate in law from the University of Miami School of Law. Has your subsequent career proven that this was a good combination of education, or would you have chosen differently in hindsight?

My education was a great prelude to a path of lifelong learning, teaching me to be open to new ideas and ways of connecting to people from diverse backgrounds. I like to say that I was raised to have the kind of career and life I’ve had. I grew up partially in Paris (where French was my first language), partially in New York City and partially in Miami—three very international cities that exposed me to different mindsets. After my education, I’ve been with White & Case and Dentons in New York, London, Prague, Budapest and Mumbai, and have worked on transactions involving over 70 countries around the world.

What motivated you to leave the wealth of universities in the US and go to study in France? Was it a clear choice, or did you have to persuade yourself to take that step?

As I mentioned, I grew up partially in Paris, and always wanted to return there. After university in the US, I had the opportunity to coach and play professional baseball in France, and to go to business school there. The baseball was the fun that one is supposed to have in one’s early 20s. In business school I learned the finance, accounting and strategic mindset that I like to think I still use today.

Why did you focus mainly on mergers and acquisitions in law?

While it’s true that much of my career has been spent in M&A, I’ve also had a lot of exposure to banking, infrastructure projects, real estate and other areas of business law. With most of my career spent in Central and Eastern Europe, I suppose that I’ve been attracted by the great variety of people, particularly entrepreneurs, whom I meet in M&A transactions. I love being exposed to the entrepreneurial nature of CEE businesspeople, understanding their drivers and helping deliver transformational transactions for them. 

Which transaction are you most proud of?

It’s difficult to single out a specific transaction. My career has gone through different phases, from the privatization transactions in the Czech Republic in the early 1990s, to the wave of private equity investments in Central and Eastern Europe after the turn of the century, to recently assisting entrepreneurs sell their technology businesses.Each phase has been fascinating in its own right.   

Which aspect of your specialization is the most challenging, and how do you manage it?

Most M&A transactions in Central and Eastern Europe entail a fair level of complexity. Sometimes, the target business operates in a complex regulatory environment. In other cases, the business has grown so fast its systems and procedures, including in legal and tax, have not caught up.  Some North American or Western European buyers try to impose complex legal documentation that they believe protects their interests better. I enjoy understanding the complexity, being able to explain it to decision makers in simple, commercial terms and helping them devise solutions. 

Your practice focuses on Central and Eastern Europe. What was the decisive moment when you said to yourself: yes, I will go to work abroad, specifically in this region?

Sitting at my desk in New York in 1991, I received a call from a senior partner at White & Case, asking me if I could move to Prague in two days and stay for 2-3 months. It was the beginning of the 4th of July weekend, so I begged for four days. Once I arrived and had the opportunity to experience Czech culture, participate in sports here (I’m an avid baseball, golf and tennis player) and advise on interesting transactions such as the privatizations of Škoda Auto and Rakona Rakovnik, I was hooked and stayed for three and a half years.

Central and Eastern Europe is quite diverse. Which countries do you like best professionally and which do you like best personally?

I couldn’t pick a favorite—I enjoy the diversity of cultures and mindsets across the region.

You lived in Budapest for a long time. Did the reality there match your expectations before you settled there? 

I’m very grateful for my family’s 27 years in Budapest. We made great friends, I had a special group of colleagues in the law firms I worked for and my children loved growing up there. My wife and I are, however, super excited about opening a new chapter of our life in Prague.

Now you are moving to Prague. What are the pros and cons for you?

A lot of pros and not to many cons!  My wife and I have a number of friends in Prague from our time here in the early 1990s. The beauty of the capital and the countryside, the openness of the Czech people and the love of outdoors and sports are all still there. But, in the meantime, the country’s infrastructure and the livability have both been significantly enhanced.  And we love the growth mindset—entrepreneurs, companies and financial groups are looking to create global businesses.

Where do you feel at home today?

I feel at home in internationally-minded, balanced societies.  Czech Republic, Canada and Scotland are examples of places to which I feel particular affinities.

You work internationally, in international teams. From your point of view, does this require specific qualities or skills, or is it so natural in the legal world that anyone can do it?

I believe that a firm such as Dentons, where every single day I work with colleagues from all over the world to deliver strategic transactions to our clients, is the ideal place for someone like me. Every day I get to learn from the clients and colleagues about the business norms, laws and cultures of the countries we’re dealing with.

What basic rules or principles do you follow as a team leader?

I generally try to treat the people around me the way I’d want to be treated myself. I believe that my team understands that the pressures we are under are driven by the delivery of premium services to our clients, but I also encourage our team members to lead reasonably balanced lives. A career in international M&A is a marathon, not a sprint!

What is the most difficult thing for you in your role as a leader?

We all have our strengths and weaknesses as leaders. I try to surround myself with people who make up for my weaknesses!

Rob Irving is an experienced M&A and private equity partner and co-head of Dentons’ Corporate/M&A practice group in Europe. He has worked on landmark transactions throughout Central and Eastern Europe (CEE). His expertise has been utilized by Czech companies such as EMMA Capital, Meopta, and CPI Property Group, among others..

You can read the Czech version of the article HERE