David Friedlander: The Dealmaker

Success and More Interesting Stuff has enjoyed conversations with a range of stock market participants. We have never talked to a lawyer - until today. David Friedlander could possibly be one of the most influential people in Australian corporate activity over the last 40 years.

His list of deals includes the merger of Soul Patts with Brickworks, Woodside's purchase of BHP's oil and gas assets, Woolworths' spin-out of drinks group Endeavour, the merger of Nine Entertainment Group with Fairfax, Macquarie Bank's failed bid for Qantas, and, more recently, the Australian retail offering for Elon Musk's SpaceX float. He is an Australian legal Hall of Famer.

In July, Friedlander stepped down as chairman of the Big Six legal firm Mallesons. His last major job was an internal one as the Australian company split with its Asian partner, King & Wood. The split comes at a crucial juncture, as legal work faces the ominous challenges posed by AI. No one is sure how much third-party legal advice will be needed in the future. Further, companies are questioning whether it's still worthwhile to be listed on a public market. These are interesting times.

Friedlander is a special breed. He has risen to the top of his competitive field while maintaining a collection of interests. He runs marathons, participates in triathlons, and is a music tragic who plays the guitar. His love for cricket ensures he does not advise any clients while the Sydney test is on. At the same time, he has lent his energy to the Sydney Dance Company board.

In this episode of Success and More Interesting Stuff, David shares his insights on the impact of AI on the legal profession and takes us inside some of Australia's biggest corporate deals.

The podcast is available on major podcasting platforms including Apple Podcasts and Spotify or you can listen to the episode by clicking on the player below

Time codes

• 0:00 - Introduction
• 3:43 - The impact of AI on the legal industry
• 9:26 - Family background, education and the appeal of law
• 13:30 - Developing an interest in the share market
• 17:21 - David’s first role with a law firm
• 22:44 - Macquarie’s failed bid for Qantas
• 27:05 - Soul Patts, Brickworks and Perpetual
• 32:23 - Afterpay and Square (Block)
• 35:10 - Working on the SpaceX IPO and the prospect for more global IPOs
• 42:17 - Reasons for optimism on Australian IPOs
• 45:47 - Will US IPOs crowd out the local market?
• 49:30 - Time to focus on music and altruism
• 54:00 - David’s song to sum up his career (so far)

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