SINGAPORE — Banking giant Citi today (June 24) launched a first-of-its-kind legal internship programme for law students from the National University of Singapore (NUS).

Aimed at equipping law students with practical experience in banking, the top-performing intern will also clinch a training contract with Big Four law firm Rajah & Tann — although all interns will get an interview with the law firm.

During the three-month internship, each intern will be paired with a Citi senior in-house counsel.

The first batch of three interns ended their stint last month, and the second batch of six interns began their stint this month. Up to 10 interns are accepted per year, and the next batch will begin their stints early next year.

The landscape for lawyers is set to become more competitive, with Law Minister K Shanmugam warning last year of an impending glut of lawyers due to returning overseas graduates. This was followed by the Law Ministry’s decision in February to drop eight out of 19 United Kingdom law schools recognised for admission to the Singapore Bar, after a recommendation by the Singapore Institute of Legal Education.

The internship programme’s partners spoke of the need for lawyers to see the world not simply through legal lenses amid stiffer competition.

Said NUS law dean Simon Chesterman: “They need to understand the business dimension in order to understand their clients better in a more competitive marketplace these days.”

There is an increasing need for law students to look beyond the traditional career path of private practice, and law plays a large part in the financial industry, added Mr Andrew Wan, Citi’s general counsel for markets and securities services in the Asia Pacific,

Said Rajah & Tann managing partner Lee Eng Beng: “The most common negative feedback is that young lawyers don’t understand the client’s business and their needs, and that’s why when Rajah & Tann was approached to give our support in this partnership, I thought it was very useful.

“We see a lot of applications from young lawyers and it’s almost standard for any law student to go through at least two internships every long vacation, but invariably most of these internships are in law firms.”

Final-year law student and intern Bernice Gan said that while the learning curve has been steep, the internship has allowed her to work with different business units and look at things from the client’s perspective.

Law graduates have to complete a five-month practical law course, where they serve a pupillage under the supervision of a senior lawyer at a law firm, which then culminates in a further examination before the pupil is called to the Bar and attains a licence to practise. In-house counsel do not need a practising certificate, but having experience as a practising lawyer is generally seen as a great benefit.