Euro elite: focus Baltics – All change

Posted on |

Consolidation among the biggest players in the Baltic states has led to the creation of an elite tier of independent firms.

2015 was a significant year for the Baltic legal market, with rapid consolidation between firms in Estonia, Latvia and Lithuania creating, as Sorainen’s co-managing partner Laimonas Skibarka describes it, a ‘Baltic Magic Circle’.

Rival firms Raidla Lejins & Norcous and Lawin confirmed they had traded their Estonian offices to form two new firms – Cobalt and Ellex. In late 2015, Cobalt acquired the Baltic offices of Finnish firm Borenius, taking its numbers to 31 partners and 176 lawyers. Ellex (technically three firms under one common brand) sits at 30 partners with 167 lawyers, keeping it in close competition with its rival.

Continue reading “Euro elite: focus Baltics – All change”

Euro elite: focus Greece, Turkey and The Balkans – Bouncing back

Posted on |

They may not be out of the woods yet, but independent firms from the south-east tip of Europe are showing their resilience.

In a region of Europe marred by economic crisis and political unrest, many firms in Greece, Turkey, Cyprus and the Balkan Peninsula have remained resilient. The expectation that testing circumstances could lead to bad news for many firms has been offset by international interest or domestic legal work that came with the uncertainty.

John Dryllerakis, managing senior partner of Greece’s Dryllerakis & Associates – a firm that despite having just 44 lawyers scores highly in The Legal 500 EMEA – has the most ominous outlook. Capital controls, a possible exit from the Eurozone and two general elections have caused significant uncertainty in the country.

Continue reading “Euro elite: focus Greece, Turkey and The Balkans – Bouncing back”

Euro elite: focus Nordics – Power, soft and hard

Posted on |

The Euro Elite is dominated by independents from the Nordics – large, high-quality and able to resist the advance of international firms.

The Nordic countries – Sweden, Denmark, Norway, Finland and Iceland – are diverse legal markets that are home to a strong array of independent domestic firms, including Mannheimer Swartling and Vinge in Sweden, and Denmark’s ‘big four’: Kromann Reumert, Plesner, Gorrissen Federspiel and Bech-Bruun.

Continue reading “Euro elite: focus Nordics – Power, soft and hard”

Euro elite: focus Benelux – Perfect triptych

Posted on |

While local firms in the three Benelux countries have had to fight global law firms at one time or another, the independents have successfully held their own.

The Benelux countries – Belgium, the Netherlands and Luxembourg – may be closely-knit neighbouring states in central Europe, but their legal markets are distinctly different. And while historically these countries joined West Germany, France and Italy to form the European Coal and Steel Community – a predecessor to the EU – the rules and regulations for each market have created unique landscapes for law firms.

Continue reading “Euro elite: focus Benelux – Perfect triptych”

Euro elite: focus Russia and CIS – Cold fronts

Posted on |

While international firms have enjoyed tussling with leading independents in Moscow for years, a hardening market has seen the local players show their resilience.

Russia’s legal market continues to struggle after international sanctions were imposed in 2014 during the Ukraine crisis, affecting corporate, commercial and capital markets. These penalties added to the problems the region was already grappling with following the global financial crisis and low oil prices that were hitting the nation’s industry.

Continue reading “Euro elite: focus Russia and CIS – Cold fronts”

The Legal Business 100 debate: No quarter asked

Posted on |

As a resurgent mid-tier asserts itself in the UK legal market, our LB100 debate brings together City players to talk tactics, threats and sharpening your focus.

If the talking point of the UK legal market in recent years has been the sparkling performance of the City mid-tier, success is not leading to complacency. Bringing together a group of leading law firms to pick up themes from our recent annual Legal Business 100 report, it was clear that discipline, focus and a pronounced streak of insecurity means that the group are determined not to surrender the hard-won success they have achieved in the last five years.

Continue reading “The Legal Business 100 debate: No quarter asked”

Ports in a storm – Can Ince get back on course?

Posted on |

Once a leading player in marine and insurance work, Ince & Co has been hit by discord and an ailing core market. Legal Business assesses the high-risk course the firm is charting in response.

Blue, purple and pink LED lights flash on entering the doors to Ince & Co’s new home at London’s Aldgate Tower. Inside is a spacious office decked out with the latest tech, contemporary meeting rooms and a communal café. Around the corner is an open-plan office where leadership duo Jan Heuvels and Paul Herring sit among their teams. There are no phones in this office; each desk boasts a Surface Pro – the latest Microsoft tablet – with a built-in phone integrated with the firm’s e-mail.

Continue reading “Ports in a storm – Can Ince get back on course?”

Set in stone – testing time for mid-tier sets as elite London sets tighten their grip

Posted on |

The demise of 11 Stone Buildings last summer sparked claims within the Bar that others would face the same fate. As the gap between the haves and have-nots widens, can second-tier sets survive?

‘If you don’t stop gossiping about the collapse of this set, you will make it happen. You’re scaring people. Things are not as bad as they seem.’
A staff member to a junior barrister at 11 Stone Buildings, summer 2015

‘Unfortunately, there’s an incentive to leave before the crash. If people think the set isn’t going to last they’ll start leaving. It’s then that the set starts shredding at the edges. Nobody wants to be left behind.’
Michael Furness QC, co-head of chambers, Wilberforce Chambers

Continue reading “Set in stone – testing time for mid-tier sets as elite London sets tighten their grip”

Less bark, more bite – competition to the fore as tougher enforcement arrives

Posted on |

New legislation and a tougher outlook from regulators has competition partners salivating, but the old guard maintain their dominance in the City. Can the rise of US players extend to antitrust practices?

Having long been viewed as stable, the UK’s competition law agenda has been shaken up significantly over the last 12 months, with the Competition and Markets Authority (CMA)’s public attack on the proposed merger of mobile networks O2 and Three last month the clearest example yet. In an unprecedented move CMA chief executive Alex Chisholm published a letter to the European Commission, which is assessing the deal, stating that the £10.25bn purchase of O2 by Three owner Hutchison would cause ‘long-term damage to the UK telecoms market’.

Continue reading “Less bark, more bite – competition to the fore as tougher enforcement arrives”