Despite the impact of recent political tension in western Europe triggered by Brexit and several high-stakes leadership elections, according to management at some of the strongest firms in the CEE region, there are patches of growth and they are there for the long haul.
Continue reading “Market report: Central and Eastern Europe – Here to stay”
‘Compared to other European jurisdictions, Switzerland has been doing well,’ says Benjamin Borsodi, managing partner of Schellenberg Wittmer. ‘2016 was a very good year for many Swiss firms, especially the major ones. It was our best year ever and it looks positive for 2017 as well.’ His sentiment is echoed by Daniel Daeniker, managing partner of Homburger: ‘I was expecting the end of the M&A cycle: it’s simply not happened. Our first quarter numbers in 2017 are well above last year.’
Continue reading “Market report: Switzerland – Feeling lucky”
The financial crisis in Greece continues to affect the legal market and reduce volumes of work, following the unsettling negotiations between the Greek government and its international creditors, and the six-month anti-austerity strike by Greece’s lawyers last year. However, some argue a modest rebound is in sight.
Continue reading “Market report: Southern Europe – A long recovery”
The Benelux countries have experienced mixed fortunes over the last year, with Belgium and Luxembourg recovering from Brexit-related instability to begin economic acceleration. In the Netherlands, a fragmented political landscape threatens such recovery, although the economy is noticeably stronger than this time last year.
Continue reading “Market report: Benelux – Neighbourhood watch”
After promoting three new partners in 12 months, Russian firm Pepeliaev Group has now reached 24 partners globally. Sergey Pepeliaev, the firm’s managing partner, argues that the Russian market is becoming more sustainable and steadily diversifying.
Continue reading “Market report: Russia and the CIS – The new silk road”
Crude oil prices may still be hovering between $45 and $50 a barrel but the Nordic economies and the independent law firms based in these markets are suffering less than in previous years.
Baltic firms have experienced their fair share of consolidation over the past couple of years, creating a clear breakaway of four significantly sized firms for a relatively small legal market: Sorainen, Cobalt, Ellex and the recently rebranded TGS Baltic (previously Tark Grunte Sutkiene), following its merger with Varul Estonia.
Despite the possibility of seeing an increase in work and clients post-Brexit, domestic transactional activity has slowed in the Irish market, affecting the top domestic firms.
Experienced financial regulation partner Bob Penn, who moved to Cleary Gottlieb Steen & Hamilton last year and advised HSBC on the controversial bank ring-fencing reforms while at Allen & Overy (A&O), is clear on whether those reforms are fit for purpose. ‘This is a hugely unwelcome and disruptive process, and frankly yet another distraction from running a profitable bank at a time when they are already facing a cascade of regulatory reform and the prospect of Brexit.’
‘Management is the most noble of professions… No other occupation offers as many ways to help others learn and grow. More and more MBA students come to school thinking that a career in business means buying, selling and investing in companies. That’s unfortunate. Doing deals doesn’t yield the deep rewards that come from building up people.’
Clayton Christensen, How Will You Measure Your Life?
Continue reading “Survivors – the battle to improve the working lives of lawyers”
