Zwide Mhlongo has led some of Liberty Financial’s biggest South African transactions of recent times, and is praised by sources for his methodical approach. ‘Part of the in-house legal function is to contribute to the structuring of a transaction in the most efficient manner so as to give effect to the commercial intention’, he says.

‘This function presents the opportunity to think laterally and “out of the box”’. On the other hand, Mhlongo says one of his biggest challenges has involved the ‘mind-set shift’ and greater business involvement of an in-house role.

‘I have had to become more accustomed to making material decisions for our business’. When it comes to outside counsel, he says the quality is very high in the market, though sometimes lawyers could do more to appreciate all dimensions of financial transactions.