A very clear shift – Remaking the Swiss economy

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A very clear shift – Remaking the Swiss economy

After delivering his keynote address at this year’s World Economic Forum in Davos, President Trump immediately left to catch the plane home. En route to Air Force One, every bridge crossing the highway on which his limousine passed was closed, doing everything to sweep aside potential delays to his exit. Yet despite being the world’s most expensive country to live, few locals ever choose to emigrate from Switzerland – except perhaps to retire in warmer climates.

And why would they? Swiss citizens enjoy a high living standard, low levels of inflation, unemployment and crime and enviable economic and political stability. ‘Even if the cost of living is high, the high salaries, the high quality of life, the beautiful landscape, security – all of that creates an attractive package,’ says Daniel Hochstrasser, managing partner of Bär & Karrer. Continue reading “A very clear shift – Remaking the Swiss economy”

Southern and Eastern Europe – A different hue

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Southern and Eastern Europe – A different hue

Anyone making a business trip to Tirana 20 years ago was in for a surprise if they ventured outside the comfort of the city’s hotels to see what was on offer. There was plenty of interest in the obvious sights – the derelict Piramida, built to honour Albania’s dictator, Enver Hoxha, or Skanderbeg Square, with its stately neo-Renaissance buildings – but there was something else, too. There was colour. And lots of it.

Albania had recently emerged from Hoxha’s repressive, quasi-Stalinist regime and Tirana’s mayor, Edi Rama – now the country’s 33rd prime minister – had celebrated by painting the town pink. And yellow. And lime-green. And, seemingly, just about any other bright colour that was available. Tirana’s buildings were making a statement. The millennium had dawned and the post- Soviet era was over. Continue reading “Southern and Eastern Europe – A different hue”

Coronavirus hits Central Europe as Wolf Theiss partner hospitalised and three staff test positive

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Coronavirus hits Central Europe as Wolf Theiss partner hospitalised and three staff test positive

The coronavirus epidemic has spread to Austria and hit one of Central Europe’s most prominent law firms, with a partner at Wolf Theiss hospitalised in serious condition and three more employees testing positive to Covid-19.

A spokesperson for Wolf Theiss confirmed that on Thursday last week (27 February) it learned one of its partners had contracted the virus. The firm began testing all its Vienna staff within 24 hours, with more than 200 employees tested on Friday and another 80 on Monday. Three tested positive. Continue reading “Coronavirus hits Central Europe as Wolf Theiss partner hospitalised and three staff test positive”

Letter from… Brussels: Brexit convulsions prove no problem for Brussels hands as the age of tough antitrust enforcement proves a boon

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Letter from… Brussels: Brexit convulsions prove no problem for Brussels hands as the age of tough antitrust enforcement proves a boon

In mid-October, when Legal Business decided it would dedicate this column to analysing the Belgian legal market, there was still the outside chance that it would appear in our first post-Brexit issue. By the time the piece was written a few days later, the UK Government had conceded defeat on its pledge to take the country out of the EU by the end of the month, triggering yet another delay to the process.

Not that the Brussels legal elite was surprised. Located in offices a few metres from the rooms where the Brexit negotiations have dragged on for almost three years, local counsel have had more than enough time to prepare for possible outcomes – deal? No deal? No Brexit? ‘After the referendum people were concerned about what would happen, but things have smoothed down,’ notes Freshfields Bruckhaus Deringer local head Vincent Macq. ‘I don’t think there is any firm that sees it as a concern now.’ Continue reading “Letter from… Brussels: Brexit convulsions prove no problem for Brussels hands as the age of tough antitrust enforcement proves a boon”

Weil completes withdrawal from CEE as Warsaw office breaks away

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Weil completes withdrawal from CEE as Warsaw office breaks away

Weil, Gotshal & Manges is winding down its once-potent Central and Eastern Europe (CEE) operations, with its 80-strong Polish team setting up an independent firm.

Warsaw co-managing partners Pawel Rymarz and Pawel Zdort will launch Rymarz Zdort in January next year, bringing to an end Weil’s presence in the country after 29 years. Continue reading “Weil completes withdrawal from CEE as Warsaw office breaks away”

DWF brings post-float sales pitch to Germany as it seals Düsseldorf deal

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DWF brings post-float sales pitch to Germany as it seals Düsseldorf deal

DWF Europe chair Ulrich Jüngst aims to triple German lawyer headcount and launch in Frankfurt after opening the firm’s second international office since listing on the London Stock Exchange. DWF announced its fourth German base in Düsseldorf in October after taking over six-lawyer corporate boutique Marccus Partners.

While Marccus is not listed in any of the recognised legal directories for Germany, Jüngst described it as ‘a good fit with what we have’. ‘We want to cover the western regions in Germany and it’s much better to do that with integrated offices in Cologne and Düsseldorf,’ he told Legal Business. Continue reading “DWF brings post-float sales pitch to Germany as it seals Düsseldorf deal”

Ireland: Follow the money

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Ireland: Follow the money

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”

A long-time coming: Shepherd and Wedderburn lands in Dublin amid Brexit uncertainty

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A long-time coming: Shepherd and Wedderburn lands in Dublin amid Brexit uncertainty

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”