Emilie Stewart, finance partner at Sidley, talks about her rise through the ranks, supporting the progress of more junior lawyers, and advice for aspiring lawyers
When I sit down with Emilie Stewart, a partner in Sidley’s Global Finance practice, it’s hard not to get caught up in her enthusiasm for the deal-making side of law. “Finding solutions to the problems that come up during a transaction is exciting to me,” she says — and it’s clear she means it. Stewart has built her career on a love of the commercial, fast-paced world of finance law. From her early training at a U.S. firm to leading complex transactions for private equity clients, she’s navigated the twists and turns of the market with a practical mindset and a passion for collaboration. Today, she’s not only advising major funds but also helping shape Sidley’s culture as part of the London partnership, determined to ensure the next generation of lawyers can thrive just as she has.
Her enjoyment of the commercial and practical side of law motivated Stewart’s decision to pursue a career as a solicitor. Stewart secured a training contract at another U.S. firm in London where she went on to make partner. During her training contract, Stewart discovered a passion for transactional work, describing herself as “practical and solution driven.” She elaborates, “the prospect of finding solutions to the problems that come up during a transaction is exciting to me. I also love the pace and intensity of transactional work.” Working in this area also keeps Stewart on her toes. “I like the fact that transactions can throw up unexpected challenges; occasionally the deal structure envisaged at the outset is completely different at the end,” she says.
So why finance in particular? “Compared to some other transactional practices, finance transactions create long-term relationships,” Stewart explains. “When you go into negotiation, you know that your client — whether borrower or lender — could be in a relationship with the other party for some time to come.” This adds an additional element of challenge to the job. Stewart also credits the people around her for drawing her into finance law: “The people that you work with is a huge part of what you do. Finding people that you work well with and that you have a huge amount of professional respect for, that’s all really important.”
In 2021, Stewart made the leap to Sidley, where she has now been for four years. Having built a practice advising private equity funds and asset managers, Stewart was attracted to the firm’s broad practice and wealth of expertise. “Sidley is one of those firms where you can find someone that does everything you could possibly imagine,” she explains. Sidley’s broad and diversified platform helps its lawyers attract highly sophisticated clients and complex, high-value work, Stewart says. “Having a platform like Sidley, and the breadth of capabilities that come with that, is very helpful for working with the most sophisticated funds and asset managers out there; no matter the twists and turns of the transaction, we always have the capabilities and knowledge to support it.” Stewart also praises the “collaborative” culture at the firm. “The way our firm is set up supports a collaborative culture, which helps make it an enjoyable place to work.”
I ask Stewart what commercial or legal developments are affecting her clients this year. “The message of 2025 so far has been political uncertainty,” she replies. Uncertainty around the economy and government policy can slow down deals as parties struggle to agree on the value of a transaction: “Essentially, uncertainty creates challenges around pricing,” Stewart explains. The slowing of deals in some areas is also creating heightened competition elsewhere. “Where there is sufficient certainty for deals to be priced effectively, there is a huge amount of competition. Businesses are vying for the deals everyone wants to do,” Stewart says. One particular area that is seeing increased competition is where credit funds are seeking to provide financing for real asset transactions. “There is a lot of competition between the credit funds,” Stewart says, “but for our PE fund clients who are borrowing from those lenders, it’s a good situation as they’re able to secure better terms.”
I am curious to know what skills make a good finance lawyer in Stewart’s view. Returning to her earlier point about finance lawyers constructing long-term relationships between lenders and borrowers, Stewart emphasises the importance of negotiation skills. “Having the judgement to know when to press for a particular term in the agreement which will be important to the client in two years’ time is important,” she says, adding that it’s also crucial to know when not to press. “That judgement is what our clients come to us for,” she says.
In terms of what makes a good trainee, Stewart is quick to emphasise the importance of being proactive. “Take ownership of your work,” she says. “Always try to think three steps ahead: what do your clients need? What do your colleagues need? What do the lawyers on the other side need?” She also recommends “recognising that every day is an opportunity for learning.” This means seeing the value in work that may appear less interesting on the surface: “I have never done a job which does not involve an opportunity for learning,” Stewart says. “The trainees who recognise that there is something to be learned in everything you do are the ones that set themselves up for success as they continue on in their career.”
As our conversation draws to a close, I ask Stewart for the one piece of advice she would give to aspiring or junior lawyers. “Really lean into your career and grab every opportunity you can to develop — treat everything as a learning experience,” she says. For her, the key to success lies in always looking ahead to the next challenge. “The people I’ve seen succeed are the ones who are constantly pushing on the next door. You finish a deal, and you’re already thinking, ‘What’s the next one?’”
About Legal Cheek Careers posts.
