Shanan Dunstan

Partner, Bryan Cave Leighton Paisner

Biography:
Shanan is a partner in Bryan Cave Leighton Paisner’s banking group. Appointed in 2017 to spearhead the firm’s ABL capability, Shanan has been extremely successful in cementing its position as a key player in the ABL space.

In an evolving new market, Shanan is at the forefront of developments and know-how.  She has been charged with leading the Secured Finance Network’s European Chapter Heads of Terms project and has drafted the prototype standard form term sheet, which will be circulated early this year for industry feedback.  Her aim is to develop a clear framework for documenting working capital solutions and to create standards for best practice in the European ABL market.  She has spoken at key industry events including the most recent ACG Eurogrowth conferences in London and Amsterdam.

Shanan advises on ABL transactions under both New York and English law.  She has a particular expertise in specialist hybrid ABL/cash-flow lending structures. With the rise of alternative lenders, the structuring of ABL transactions has changed significantly and the market has grown substantially in size. Shanan advised on the first unitranche/ABL transactions in the UK market, coming up with innovative intercreditor solutions, and is a recognized market-leader in ABL.

What advice would you offer to women just starting out in the industry?

Embrace what makes you different – unfortunately, like many women in what are traditionally male-dominated industries, I still find I am sometimes the only woman in the room. As disappointing (and bizarre) as this may be, it is also an opportunity to stand out. You don’t need to blend in with the successful men to be a successful woman.  I would also say network, network, network.  Participate in industry organisations such as the Secured Finance Network. The people you meet and the friendships you form early on in your career will be what sets you apart when you are looking to step up and establish yourself as a leader in your field. Finally, put your hand up for as many assignments as possible – working on different types of transactions (both inside and outside ABL) will give you a more well-rounded perspective and contribute to your development as a product specialist.

What do you know now that you wish you knew in the beginning of your career?

Not to take set backs personally. I know it is easier said than done, but I have taken the biggest steps in my career when things haven’t always gone to plan. Also, learning that it is okay (and, in fact, normal) to not be perfect. I believe the most important attribute any professional can have is to genuinely care about his or her clients and this inevitably means that when you make mistakes, it will sting; but learning from what didn’t work or what went wrong is what will make you good at what you do and what will help your clients succeed.

How have you approached big career decisions?

I firmly believe that when a door opens, you have to go through it.  Even if the opportunity doesn’t turn out the way you hoped, there is nothing lost from seeking to challenge yourself or taking a next step. There are very few people who have followed a linear career path and even those that have, have had to make a choice at some point which they weren’t sure about.  One of most important aspects of any decision affecting your career is to find like-minded colleagues because these are the people who will help you develop in your role and grow as a professional.  At the end of the day, you need to do your research and then trust your gut.

What do you enjoy most about your role?

It’s exciting. We are innovators! When working in a field that looks back at precedents that are, in some cases, hundreds of years old, it is genuinely exciting to be part of an industry that is growing and adapting quite rapidly. The ABL market in the UK, in particular, has evolved considerably over the last few years and is perfectly placed to offer businesses the financial flexibility to help them continue to grow during uncertain times. To be able to help lenders and borrowers achieve their goals in this environment is very satisfying.