Since it exited from an emergency bailout from the European Commission, the European Central Bank and the International Monetary Fund, and began its rapid recovery, Ireland has enjoyed star-performer status in Europe. Ireland’s GDP grew by 6.7% in 2018, making it the region’s fastest-growing economy for the fifth consecutive year. Simultaneously, according to the EY Attractiveness Survey Europe, foreign direct investment (FDI) in Ireland has been reborn, leaping a remarkable 52% compared to 2017 while the EU suffered an overall decline.
Of the 265 new investment projects announced in Ireland last year, 134 featured first-time investors – the highest total in a single year, according to IDA Ireland. ‘The challenge now,’ says the IDA, ‘is to make sure the FDI portfolio grows further’. This is some challenge given the headwinds of Brexit and a broader economic slowdown. Although such external factors may ultimately derail their ambitions, Irish law firms have been making good while they can. Continue reading “Ireland: Follow the money”
Shepherd and Wedderburn has become the latest firm to set up shop in the Republic of Ireland in response to Brexit.
The new office, announced today (22 July), has been launched in a bid to protect European client business and will be led by Paul Carlyle (pictured), the Scottish-headquartered firm’s head of media and technology, alongside media and technology partner Joanna Boag-Thomson and Gordon Downie, head of regulation and markets. Continue reading “A long-time coming: Shepherd and Wedderburn lands in Dublin amid Brexit uncertainty”
Europe’s independent law firms fared much better in 2018 than most of the EU economies in which their clients operate. Set against the background of a US-China trade war, sluggish output and the prospect of an imminent Brexit, GDP growth in the eurozone limped to a disappointing 1.1% last year. Overall deal volume and value also pointed downwards, particularly in the second half of the year according to Mergermarket, but thanks to increased regulation and compliance, investigations and dispute resolution, there was plenty for lawyers to do.
This has led to multiple firms in our fourth annual Euro Elite report – which identifies 100 leading firms in around 40 European jurisdictions using a methodology that blends size, reach and quality across key product lines – reporting annual revenue growth of between 5% and 10%. In meeting the sustained challenge of international players, Euro Elite firms are more than holding their own. Continue reading “The Euro Elite Overview: Life in the bubble”
Any conversation with a French lawyer these days turns at some point to the volatility of the market and the unpredictability of the future. But there is more substance to these words this time around than a reflection of the industry’s traditional caution.
In just over two years, France has gone from an election that might have ended up with a populist anti-EU leader to the enthusiasm for the victory of business-friendly, pro-European Emmanuel Macron… and then to the rude awakening of social unrest and economic slowdown. Continue reading “The Euro Elite: France – La vie en rose”
Greenberg Traurig’s executive chair Richard Rosenbaum has pointed to his firm’s track record for independent thinking as it enters Italy through a merger in Milan.
In July, the northern Italian city will become the location of the Miami-bred firm’s 40th office, after Greenberg absorbs its local ally of 14 years, Santa Maria Studio Legale. Two Freshfields Bruckhaus Deringer veterans will also join the firm’s first Italian base: local real estate head Marzio Longo and finance partner Corrado Angelelli, giving it a starting team of around 50 lawyers. Continue reading “‘Independent thinker’ Greenberg Traurig picks Milan as latest step of unusual European footprint”
Despite having launched five international offices in Asia and the Middle East since 2012, top-20 UK law firm Addleshaw Goddard had no presence in continental Europe until last month. That was when it announced the hire of five partners from Bryan Cave Leighton Paisner (BCLP) to spearhead a launch in Hamburg.
The hires include the two founders of legacy Bryan Cave’s German offices in 2007, Eckart Budelmann and Michael Leue. Partners Martin Lüderitz, Maximilian Karacz and Hubertus Schröder joined the duo in the move from BCLP, alongside five other lawyers. Continue reading “Addleshaws enters continental Europe through BCLP Hamburg hires”