Law Firms Who's Who DETAILED LISTING OF IRELAND'S TOP COMMERCIAL LAW FIRMS AND THE VIEWS OF MANAGING PARTNERS - BizPlus
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M AY 2 0 2 0 SURVEY Law Firms Who’s Who DETAILED LISTING OF IRELAND’S TOP COMMERCIAL LAW FIRMS AND THE VIEWS OF MANAGING PARTNERS
B P S U RV E Y C O M M E R C I A L L AW
Lawyers In Lockdown
A
ccustomed to interviewing ROLLINGNEWS.IE
business leaders in plush,
mahogany-lined offices, it’s a bit of
a climb-down to instead quiz them
over the phone, as they perch on a
corner of the kitchen table or struggle
for space while shoehorned into the box
room. Welcome to the world of
Covid-19, where entire organisations –
some hundreds strong – have dispersed
the workforce to their homes.
Law firms are perhaps among the
most successful of these diasporas
because when the lockdown came, most
had been ready for years – they just
didn’t know it in advance. The genesis of
agile working was not altruistic. Many
firms found it difficult to retain key
specialised lawyers when they reached
the childbearing stage. Procedures and
IT systems were devised so they could
work from home yet stay on the payroll.
Additionally, as ever more firms joined
international alliances and executives
often worked on assignment abroad,
they too required remote working
capability.
Alan Murphy, managing partner at
Eversheds Sutherland, says that as
Covid-19 gripped the country he was
able to move 80% of the firm’s Workplace restrictions have played to the agile working
employees in Dublin and Belfast to setups of many law firms, but they are also causing
remote working within a week, enabling
adequate social distancing in the office.
workload headaches, writes Gerry Byrne
The balance moved to their homes the two of our five departments to start explains. “I was on team X, which
following week. working remotely to make sure that IT worked Monday, Wednesday and Friday
Many firms, including William Fry, systems were functioning as they should. from home, and on Tuesday and
switched to remote or agile working When the lockdown was ordered, 95% Thursday we were in the office. The
even before the government called for it. of us were remote and have been since,” following week, we worked Tuesday and
Managing partner Bryan Bourke was in says managing partner Geoff Moore. Thursday from home. Team Y worked
Washington prior to the St Patrick’s Day The school closures also triggered alternate days to us. The two teams were
celebrations. “We took a decision to shut some early decisions. “We moved not allowed contact, even socially. They
down in the course of that week and we immediately so that anybody who had never overlapped in the office and the
have been working from home since child-minding responsibilities could three offices were deep cleaned every
then,” he says. work from home,” says Nicholas night to make way for the other team
The lockdown was an extension of a Butcher, managing partner of the the following day. However, we had
process that was already ongoing, given Maples Group office in Dublin. “On the people who were getting very anxious, so
that so many lawyers work from home at Friday of the announcement we moved we sent everybody home to work.”
least part of the week, according to to a full, office-wide working from home At Matheson, over the past two years
Gayle Bowen, partner and Head of arrangement.” the firm has been investing in agile
Office Dublin at Pinsent Masons. Before dispersing staff to their homes, working kit such as laptops, etc. “We
Separately, the process had already been Ronan Daly Jermyn operated a were able to mobilise very quickly to get
underway at Arthur Cox the week prior sophisticated social distancing project. things up and running from home,” says
to the government lockdown “We divided each of our three sites into managing partner Michael Jackson.
announcement. “On the previous two completely separate teams,” Gayle Bowen says her firm had an
Monday and Wednesday I had asked managing partner Richard Martin early heads-up from colleagues in Asia,
44 BUSINESS PLUS M AY 2 0 2 0
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Although solicitors are classified as working very quickly. Structures were office,” he says. “Secure systems for
essential workers, most law firms put in place to hold regular meetings, all remote document access and retrieval,
emptied their offices when the conducted remotely via video calls. amendment and time capture and
Covid-19 lockdown was ordered “A department meeting takes place accounts have all been available for a
first thing every morning, which might long time.
and in particular the Hong Kong and have up to 30 people,” says White. “However, there are practical
Beijing offices. “They were impacted by “There are regular team meetings during problems when your HQ is closed. Quite
Covid-19 before we had a sense over the day and then the partners in each a lot of what law firms do involves
here of the seriousness of the virus,” she department have another remote helping other people do what they need
says. “We were able to learn from their meeting every evening to review and to do in terms of governance, recording
experience. For example, half the people take stock. We also have partners and executing of documents. Many
stayed away from the office because you meeting remotely once a week. That important legal documents still require
couldn’t have two people in the one might seem like a lot of meetings but wet ink signatures, so without your
room at same time, and that came over keeping connected and coordinating the central hub and supports, that kind of
here very quickly.” flow of work is really important when practical stuff is more difficult.”
During the lockdown, most offices everyone is working remotely. At Walkers Ireland, managing partner
closed except for a skeleton staff doing “While we had a business continuity Garry Ferguson says the firm’s
photocopying and other centralised plan, it didn’t anticipate social document management system has
tasks, as well as operating a courier distancing. The plan was supplemented facilitated remote access for years.
service to get documents to and from by ordering additional laptops and However, the system wasn’t set up for a
home-based lawyers. Otherwise, staff scanners, and there was enough time to situation in which nearly everyone is out
had to justify their reasons for wanting get the set-up right before the of the office at the same time.
to go to the office, and many of those lockdown.” “If you asked me at the start of the
requests were rejected. White adds that Beauchamps have year would we have been able to have
John White, managing partner of had c.20 people working remotely for a everyone working remotely, I would
Beauchamps, says that staff settled into number of years. “Good people will have said definitely not,” says Ferguson.
the routine involved with remote perform well, whether at home or in the
Survey continued on page 46
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MARC O’SULLIVAN
“But we felt the lockdown was coming
and we had the benefit of the experience
of our colleagues in Hong Kong, who
found themselves working from home at
short notice. In February we moved to
roll out work-from-home infrastructure
for staff who didn’t have it. Many of our
support staff would never have worked
remotely and it’s definitely a novelty for
them.”
Niche law firm OBH was set up for
remote working prior to the lockdown,
according to partner June Hynes.
“Technically we can go into the office but
we’d rather not,” says Hynes. “It’s
actually working really well for us. I was
slightly institutionalised and would
never have dreamt I’d work outside of
the office. I was linked up at home but
wasn’t using the facility, and I have to
say the experience has been something Law firm Eversheds Sutherland showcased its diversity credentials last
summer with a staff ‘Pride Picnic’ in the Iveagh Gardens
of a revelation.”
Hynes adds: “I think you have to have
an office in the legal world, but I think productive at the moment. Now, that office and two days at home. At the start
we will be combining remote working may change, but most people spend of this year we had a trial where
and office working, depending our hours commuting every day. However, I everybody worked from home for a day,
personal circumstances. Most of the think people would miss the discipline as much to break down perception
other people in the firm seem to be of going into an office. People like the barriers as anything else, and that
managing quite well, particularly the routine and interacting in person with prepared us for moving everything
younger crew. They have probably found colleagues.” remotely in mid-March. I think the
it easier than I have, because there’s a While all of its fee earners are working whole experience has been life changing
control factor with the older crew. We remotely, OCWM Law’s office is being for many people. Personally speaking, I
feel we can walk in and out of people’s manned by managing partner Philip rarely sat down with the family for the
offices, and now that hands-on aspect is O’Connor and a skeleton crew. “We are evening meal but recently I’ve been
missing, though it has affected us less working remotely within our physical doing it every day.”
than I thought it would.” office,” O’Connor explains. “This current Leman’s remote working routine
situation is accelerating the process of involves a 10 o’clock gathering on
B
HSM’s Dublin office is physically working remotely in an integrated Microsoft Teams. “We’re also in touch
shut during the Covid-19 lockdown manner, and the firms that cannot adapt with each other through the day using
but the firm’s solicitors are working will struggle. After this whole process is Teams. Keeping in touch with people is
very efficiently from home, according to over, our office is probably going to be really important. We’re doing what we
managing partner Mark Homan. “It is simply a base for meet and greet, and used to do before, just a different way. I
more challenging but our preparations perhaps nothing much more than that.” want to keep that structure and routine,
have paid off. We are operating very Much of the current client work for and to ensure continuity for when we
much the same as usual, with daily OCWM Law reflects concerns about the get back to work.”
conference call meetings with clients Covid-19 pandemic. “A lot of people are Despite not needing to press work
and colleagues.” turning their minds to wills, enduring clothes or drive into a traffic jam,
Homan adds that the lockdown power of attorneys, setting up trusts and working from home brings its own
restrictions have emphasised how restructuring their family affairs. In the challenges, and many people miss going
resilient and adaptable people can be, as main, while we can still provide some into the office. “I have about ten people
well as shining a light on the merits of advisory work we can’t really process it.” who might say that they are sufficiently
remote working. “Having a physical base Law firm Leman adopted paperless in touch with their mental wellbeing to
is important, but there will no doubt be operations seven years ago. “All of our know that they need to leave the house
more remote practices emerging on the files are electronic so people can access every morning,” one managing partner
other side of this crisis,” he says. them wherever they are,” says managing reports. Another says his personal
Law firm Philip Lee, headed by partner John Hogan. “One of the assistant actually enjoyed her old
founder Philip Lee, has 150 people biggest challenges in the legal sector is journey to work. “She has twins and she
working remotely. “It’s a massive recruitment and retention, and offering looks forward to the commute because it
experiment to see how it all works out, flexibility is a good way of addressing gives her a bit of head space.”
and there are a lot of benefits,” says Lee. that issue. Prior to the lockdown we had Dillon Eustace was well prepared for
“I would say we are actually more some people working three days in the
Survey continued on page 48
46 BUSINESS PLUS M AY 2 0 2 0
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the lockdown, having invested heavily Solicitors, is kept very busy working suggests that there might be more
last year in laptops and related IT from home but he would rather be in the people working from home in the post-
infrastructure to facilitate remote office. “I’m a rainmaker for the firm. I Covid-19 business landscape. “Or it
working. “It was expensive but it proved need to meet people, people want to see could go the other way and people might
to be prescient and the best investment me and sit in front of me,” he says. say they’re never going to work at home
we’ve made,” says managing partner “Theoretically, I can take instructions for again,” she adds. “But I don’t think so.
Mark Thorne. a divorce over the phone but people Perhaps people who haven’t tried remote
He adds that in February the firm don’t want to do that – they want to working and have been forced into it see
could see what was happening in China know who they are talking to. I’m not that it works.”
and started drawing up a specific sure that working from home is suitable William Fry’s Bryan Bourke believes
business continuity contingency plan. for law firms.” the pandemic will change the way
“Most BCP focuses on what you do if Bryan Bourke in William Fry also everybody works in the future – not just
your building is out of action. The focus points out that working from home can lawyers. “The technological advances
became how we would cope if we all had be quite isolating. “Even with technology that we have now mean that you will see
to go out on our own. that enables you to see other people, it quite a change in the working model,” he
“There was input from across the can still be challenging.” At Maples, remarks. Nicholas Butcher’s view is that
practice, and we thought about the Nicholas Butcher puts strong emphasis there could be far-reaching implications
nitty-gritty of the practicalities, such as on mental wellbeing among his staff. for office accommodation. “If in future
how do you receive or send a letter, what “We use an online platform for people to more people will be working from home
if a client needs to seal a document. get help and support, and to measure because it suits them and their clients,
Then we started testing with individuals and assess their own sense of mental then the amount of space one needs and
and groups, asking them to go online wellbeing. Reinforcing a sense of what that office accommodation looks
during the weekend to check their community is very important at this like would change as well.”
emails, send documents, and walk time.” Richard Martin in Ronan Daly
T
through the practicalities of not having Jermyn concurs. “Working at home his view is echoed by Richard
access to our building.” full-time is terribly isolating and it’s not Martin. “Everybody is questioning
fun,” he says. the use of paper, everybody is having
W
ell before the official lockdown at Matheson has rolled out online to put in place remote working facilities
the end of March, staff numbers sessions dealing with time management, and wondering if they need to be paying
in the office were reduced to mental health and wellbeing issues. “We a couple of million every year in rent.
enable social distancing and to reduce offer access to a counselling service for The flipside of that is we must be careful
the risk of infection. “The remote all our staff and their families,” says not to throw the baby out with the
working has worked well,” says Thorne. Michael Jackson. “People are working bathwater. There is an important sense
“It’s different and it’s challenging. We’re really hard to try to balance the issue of of community about being in a
a very collegiate, close group so you miss home schooling and childcare with their workplace together.”
the personal interaction. However, from work commitments. We are lucky that Arthur Cox’s Geoff Moore sees the
the practical perspective most things this didn’t happen ten years ago gleam of silver linings amid the Covid-19
have gone pretty well. A lot of our clients when the technology we now need was clouds. “Our ways of agile working have
are international so we’re used to in its infancy, and kids didn’t have held up extraordinarily well so there is
working with them from a distance.” Netflix to watch.” an upside there,” he says. “We will also
Graham Kenny, principal at Kenny Pinsent Masons’ Gayle Bowen Survey continued on page 50
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be asking if we need to take so many
long-haul flights. However, I think that
IRELAND’S busy on a whole range of issues. On the
other hand, we are already seeing
when we come to the new normal we LARGEST corporate property transactions deferred
will all have a craving for decent social
interactions too.”
LAW FIRMS or even aborted.
“The banks aren’t lending, and in
Michael Jackson in Matheson predicts addition to that the Property
the use of technology in the delivery of Practice Solicitors Registration Office and the Companies
legal services will be expedited, with an A&L Goodbody 313 Registration Office are both closed, so
increased emphasis on remote meetings we cannot complete a transaction and a
rather than travel. However, Jackson Arthur Cox 299 registry charge. Over the course of the
recalls people saying the same things Matheson 285 coming months, most transactional-type
about travel reduction a decade ago. work will all but dry up,” Martin adds.
“Within a relatively short space of time McCann FitzGerald 266 According to Geoff Moore in Arthur
everybody was back travelling, so it will Mason Hayes & Curran 239 Cox: “It’s inevitable that there will be a
be interesting to see if this time will be slowdown in some transactional work,
different.” William Fry 207 but equally I think debt capital and
Rumours of the demise of the office ByrneWallace 132 equity capital work is going to increase
are greatly exaggerated, according to because companies require liquidity.”
Eversheds Sutherland 108
Feargal Brennan in ByrneWallace.
J
“Home working will become embedded Ronan Daly Jermyn 107 ohn White in Beauchamps says that
within organisations as a way of working deals that were quite advanced
Maples Group 105
like never before,” he says. “Equally, I reached completion after the
think that one of the great learnings of Beauchamps 92 lockdown commenced. “While certain
the Covid-19 crisis will be that the aspects of property such as housing
Dillon Eustace 88
elevation of technology-assisted forms of remain busy, commercial real estate has
human engagement, while facilitating a Walkers Ireland 65 been hit,” White adds. “Until business as
better quality of communication, is Pinsent Masons 64 usual resumes, valuing retail, hotels and
unlikely to be anything other than a leisure is difficult. Even from a practical
poor substitute for actually meeting Eugene F Collins 64 perspective, if you were involved in a
in person.” LK Shields 62 property deal right now and you aren’t
At Beauchamps, John White’s view is based in Ireland, you can’t travel and
that after the pandemic eases there will Hayes Solicitors 61 your agent or team can’t view the
be a serious question about whether law Philip Lee 55 property, so the usual due diligence just
firms and other professional services can’t be done.
firms will continue to need as much Fieldfisher 53 “Our commercial team is busy on
prime office space. reviews of commercial contracts and the
Practising solicitor numbers as of
“Consultancy firms and some of the employment team is busy too. We have
31 December 2019. Source: Law Society
big international multi-jurisdictional also been involved in a number of
practices are saying that remote working projects where the HSE is the counter
is the best way of working in the future, is going to be a challenging year,” he party. Generally speaking it’s too early
and I suppose there is something in that, says. “That said, there are no for people to make decisions on
even though it suits their agenda,” says operational difficulties – all our lawyers enforcement or other steps which can’t
White. “However, being in the office and are able to work from home. The issue be reversed. While there is an increase in
being able to talk to somebody without will be decreased workflows due to the commercial work, it’s not a substitute for
an appointment, or tease through a legal domestic and global recession caused the transactional bread and butter work
issue or figure out a way of approaching by the crisis.” that most law firms and accountancy
a problem without having to set up a Black adds that the Covid crisis will firms are usually involved in.”
video call is, in my view, the best way for drive down legal costs as firms compete At William Fry, Bryan Bourke finds it
colleagues to achieve the best solutions. for less work. “Increased competition difficult to forecast the trading outlook
“When we are working on big usually means clients choose carefully for the rest of the year. “Equity market
transactions involving corporate, and well rather than reflexively or transactions mostly have gone by the
property, litigation, IT, and competition because they’ve always used firm X. That board, but in our business opportunities
lawyers, doing that remotely is certainly dynamic suits MHC. And when clients present themselves in every crisis, and
more difficult. So while remote working choose us, they tend to stick with us. I think that the markets will get active
does work effectively, I wouldn’t And it is clients who ultimately decide again. That could be July or August,
necessarily say it’s always the optimum the success or failure of law firms, not it could even be September – it is
way of working.” new market entrants.” hard to tell.”
Declan Black, managing partner in Richard Martin, of Ronan Daly Garry Ferguson at Walkers Ireland
Mason Hayes & Curran, notes that Jermyn, reports an increase in some reports that investment managers are
commercial law firms are mirrors of the types of advisory work. “We have eight establishing new funds to take
economies where they are active. “So it employment lawyers who are extremely Survey continued on page 52
50 BUSINESS PLUS M AY 2 0 2 0
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CONOR McCABE
However, the current situation won’t
help people who were already in
difficulties. Where there are
enforcement proceedings, we’re seeing
with some non-bank lenders that they
are keener to settle. On the insurance
side we are also seeing some faster
settlements of personal injury claims.
“Some industries may take longer to
come out at the far end. Professional
sport has been hit quite badly and travel
and holiday companies are obviously
suffering. Irish people may take more
home holidays this year, but that won’t
compensate for the thousands of
Americans, Britons and others who
would come here in normal times. That
will be a blow to the general tourism
industry and have a big impact on golf
clubs for example, which are already in
difficulty.”
Mason Hayes & Curran, represented here by partner Michael Doran June Hynes in OBH says most clients
(second from right), supports the Engage & Educate Fund administered are taking a relatively pragmatic
by Social Innovation Fund Ireland approach currently. “Requests for rent
reductions and rent freezes are being
advantage of distressed asset situations real estate transactions.” dealt with in a reasonable fashion.
in Europe and elsewhere. “As you’d Dillon Eustace is a market leader in Property owners have pressure from
expect our insolvency team is receiving providing legal services for international their own investors and have to be seen
more queries,” he adds. “We opened a funds, and managing partner Mark to deliver. Landlords have to be realistic
niche employment group last year in Thorne senses that many investors see about what they can actually do for
the context of Brexit and naturally opportunity in the crisis. “Vendor tenants, so it’s a balancing act.”
enough the employment team is expectations are possibly becoming Hynes would like to see more leeway
dealing with redundancy matters and more realistic, so we’re seeing a decent offered by banks to their distressed
other types of HR issues.” level of activity on the financial services clients. “If you go to your bank, they are
Alan Murphy in Eversheds Sutherland side.” still asking for cashflow projections,
notes that a whole new set of business Domestically, client queries span audited accounts and all of that. That
requirements have dropped on the employment issues, banking, just doesn’t work in a crisis situation.
sector. “Businesses are having to look at rescheduling standstill arrangements There needs to be a more realistic
themselves in very different ways to how with financial institutions, filing approach taken in terms of providing
they would have done a few weeks ago. deadlines, and how you deal with AGMs emergency assistance and easy access
It is very important to offer to help and shareholder meetings. to credit.”
rather than to try to sell your services in “Financial services clients are dealing
L
the current markets.” with additional queries from the Central eman’s John Hogan acknowledges
During the lockdown, Leman Bank around liquidity in particular,” that the Covid-19 crisis has severely
introduced a ‘Helping Hour’ initiative, Thorne adds. “Everybody is scrambling impacted transactions and the
with the firm’s solicitors donating an to interpret their force majeure international flow of funding. “It was
hour free each day for businesses provisions or exclusions. So client really obvious straightaway,” he says.
requiring some legal expertise. queries are very broad ranging, which “We had a couple of deals that cratered
Matheson is seeing a significant shift reflects the breadth of the practice.” when the lockdown started happening
in the type of queries it is receiving from Thorne distinguishes the current in the UK. That’s been really pretty
clients, according to Michael Jackson. recession from the one that followed the tough, and overall I’d say the impact on
“The impact will be when clients start to banking crash, insofar as the state is our business at this stage is certainly of
roll back projects they were planning for pumping out money and making the order of 25%.
2020. We will start to see that down the allowances in relation to tax. “There are “Our bank has been very constructive
line but for now we are busy,” says a lot of levers being used that weren’t and we are also looking at how to
Jackson. “We are seeing a big uptick in pulled the last time,” he says. “What manage our payments, what our
employment law advice, in insurance- happens next really depends on how cashflow is going to be like. We deferred
related queries and some uptick in quickly we get back to something bonuses due to be paid in the April
litigation. Transactional work continues, approaching normality. It could be that payroll because some clients aren’t in a
although the shutdown in construction a quarter of your year disappears before position to pay us.”
has impacted some of the corporate everyone starts to get back to normal.
Survey continued on page 54
52 BUSINESS PLUS M AY 2 0 2 0FRESH
PERSPECTIVES
FOR WORLD CLASS
CLIENTS
2000 18
+
GLOBAL GLOBAL
PROFESSIONALS OFFICES
LEGAL SERVICES
FIDUCIARY SERVICES
FUND SERVICES
REGULATORY & COMPLIANCE
ENTITY FORMATION & MANAGEMENT
maples.com/dublinB P S U RV E Y C O M M E R C I A L L AW
Once the Covid-19 pandemic and
MARK STEADMAN
lockdown dissipate, Mark Homan in
BHSM says that a key task will be
advising clients on how to get any stalled
transactions up and running again.
“There will inevitably be employment
issues and there will be issues
concerning default on obligations under
leases and commercial agreements, as
well as possible insolvency scenarios for
some businesses,” he adds.
As the lockdown consequences feed
through the economy, Beauchamps’
John White believes litigation and
restructuring will be busy, through he
doesn’t anticipate a glut of receiverships
in the short term. “In the last recession
there was a hiatus until Nama was
established,” White explains. “This time I
expect there will be a period before a
true picture emerges on valuations.
Once valuations can be done, deals, A&L Goodbody, led by managing partner Julian Yarr (second from left),
including through restructuring backs the activities of Social Entrepreneurs Ireland
processes, will follow.”
assets were requisitioned. We are in a on the agenda for May after a systems
W
hat will the post-coronavirus similar situation where something trial of the platform was successfully
economic landscape look like? unforeseeable and unmanageable to any completed in April. “We should
The view from Garry Ferguson in business has occurred. There is nothing acknowledge that replicating an e-trial
Walkers is that Ireland’s educated you could have done to avoid this. or e-hearing through online video
workforce, taxation system and “I believe great minds are going to conferencing is a considerable step up
predictable legal system will remain in have to try and arrive at a fair solution. for the judiciary and the Courts Service,”
place. “The imponderable is the appetite Perhaps the Supreme Court will make says Larry Fenelon, partner in Leman.
for investment by global companies that one or two good decisions and then “It was scarcely imaginable a month
have sufficient resources to weather this they’ll trickle down. So we’ll see.” ago that the Irish courts could take such
period. If their investment picks up With the exception of urgent cases, a quantum leap into the 21st century, so
again, Ireland is in a good position to the courts have effectively closed for credit where it is due,” says Fenelon.
benefit from any recovery that comes. business because of Covid-19 and this is “Lord knows there will be technology
The unsettling part of this is, what’s the probably one of the most critical impacts teething problems. Just imagine a Zoom
pain going to like before that recovery?” for the legal profession. “Litigation and call with complexity, verbosity and
Philip Lee’s view is that society and conveyancing are the two mainstays of pomposity. It will take a whole lot of
the courts are going to have to come to our practice,” says Graham Kenny of patience and time.”
terms with creating a just solution to the Kenny Solicitors. “If I get instructions The issue of how to process cross-
implications as to who bears the cost of today I don’t get paid for months. jurisdictional work is also a concern for
what society has gone through during Everything has been pushed back, which some of OCWM Law’s international
the Covid-19 lockdown. Lee explains: is having an immediate impact on clients. “Each country is at a different
“For example, if you have a very large cashflow because clients normally pay stage in the cycle of dealing with Covid-
restaurant paying €100,000 a month the balance on the resolution of the case. 19, so it is difficult to give advice that
rent to a landlord and your employees There is going to be no resolution while runs in tandem with advice from other
have all been laid off, then you have no the courts are closed.” jurisdictions,” says Philip O’Connor.
income for months. In the financial Apart from the backlog ensuing from At Leman, John Hogan hopes that
crisis a decade ago, the landlord said, the lockdown period, the courts will now the coronavirus crisis will speed up
‘That’s your problem’, and the restaurant have to handle a lot more insolvency aspects of digital transformation. “Why
went to the wall. issues. “I hope that the courts will are we not leading the world in the use
“How can the law cure that? There’s a abandon their long vacation and that of electronic signatures for documents?
legal doctrine of frustration, and I think they sit right through the summer,” says We don’t need ink on pages anymore.
that whether through legislation or Richard Martin of Ronan Daly Jermyn. Some of the institutions, the Law
through clever judges, this issue needs to “If they don’t we are going to have an Society included, need to get to grips
be addressed. With the jurisprudence effective shutdown of our court system with that. I’m hoping there’ll be a bit of
around frustration, the most interesting for six months instead of three.” a technology leap and that would be a
cases are around the Second World War Chief Justice Frank Clarke has good result.”
period, when many enterprises and signalled that remote court hearings are
Survey continued on page 56
54 BUSINESS PLUS M AY 2 0 2 0A place in Europe Guiding your business through Brexit A foothold in Ireland offers a pro-business environment and a continued presence in Europe. Eversheds Sutherland, a global top 15 law practice, offers you legal excellence worldwide, across 69 offices in 34 jurisdictions. In Ireland, with expert teams in Dublin and Belfast, our geographical presence allows us to understand business needs and risks across the island of Ireland. As the EU/UK trade negotiations unfold, you can depend on us to respond quickly to developments. Our Brexit Group will help your business be aware of the opportunities, while avoiding any pitfalls, that arise. For further information, contact: Sean Ryan Chair, Brexit Group +353 1 6644 207 seanryan@eversheds-sutherland.ie Alan Murphy Managing Partner +353 1 6644 289 alanmurphy@eversheds-sutherland.ie eversheds-sutherland.ie
B P S U RV E Y C O M M E R C I A L L AW
Insiders And Outsiders
I
reland’s large commercial law Most commercial law firms were prepared for remote
firms are substantial enterprises,
working, as the large players see technology giving them a
though their finances are opaque.
Only one firm, Mason Hayes & competitive edge, writes Emily Styles
Curran, announces annual turnover,
which was €85m in 2019. With 239
solicitors employed in the firm last
year, that works out at average annual
billing of c.€350,000 per solicitor.
Taking Mason Hayes as a benchmark,
the top 20 firms combined charge out
over €900m annually in billings.
Accountancy firm Smith &
Williamson conducts an annual
sector survey, and canvassed 120 law
firms in September and October
2019. The survey results showed that
two-thirds of firms had increased
revenues year-on-year, though one in
ten reported a decline. Among the top
20 firms, 87% reported an increase in
revenue while none reported a Paul Wyse (right), managing partner at Smith & Williamson,
decrease. For four out of ten of the with justice minister Charlie Flanagan
largest firms, the income increase was
over 10%. Half of the firms in the profession that incremental change, enhanced client service models,
Smith & Williamson survey increased the hallmark of traditional practice, is efficiencies and digital interaction.
profits, and among the large firms no longer a winning strategy. Document management technology
two-thirds had a larger surplus pool Lowry remarks that his firm’s is a priority for two-thirds of firms,
than the previous year to distribute to survey reveals a story of technology while managing workflow and
partners. insiders and outsiders. Larger firms process automation were also
For 2020 it will be a different story, recognise the challenges, risks and identified as areas where investment
due to coronavirus economic impacts opportunities inherent in technology, is set to increase.
in Ireland and around the world. plus its potential to disrupt. Around In addition, one quarter of Top 20
Even last autumn, before the world a quarter of Top 20 firms see firms told S&W they were
had heard of Covid-19, law firms were adopting new technologies as among prioritising investment in artificial
becoming more cautious about the their most pressing challenges over intelligence. “This AI investment has
outlook for their sector. Only one- the next three years, compared to the potential to open a real service
third of firms signalled that the 11% of all firms. and cost efficiency gap with smaller
outlook had ‘improved’ compared and mid-sized firms,” says Lowry. “In
S
with two-thirds a year earlier. ix months before the Covid-19 providing additional transparency
This negativity was largely lockdown, Smith & Williamson on workflow and clarity on pricing,
influenced by the Brexit factor, as last found that over half of law firms these technologies could prove to be
autumn a no-deal crash-out by the were planning to increase an important means to build a
UK was still on the cards. The investment in remote working strong and ongoing relationship with
slowing global economy was also a technology. The main drivers were clients in an increasingly competitive
concern among law firms six months introducing work flexibility to attract and noisy landscape.”
ago, and how right they were. and retain staff, unlocking In the short term, though, large
Most but not all large law firms efficiencies and enabling a better law firms are more likely to stick
were able to function during the work/life balance for employees. with the knitting. As law firms are
Covid-19 lockdown as integration of Business continuity wasn’t forefront structured as partnerships, they
digital into core legal services has in people’s minds, though it is now. don’t hold large cash reserves, and
been an ongoing investment priority. Lowry also notes that clients are surplus income is distributed as staff
According to Smith & Williamson’s becoming more sensitive to areas bonuses and partner payments. With
Marc Lowry: “Legal firms are not such as efficiency and value for the economy seizing up, costly
renowned as digital innovators, but money, while the arrival of UK and investments will be long-fingered.
there is increasing recognition in the global firms also brings demand for Survey continued on page 58
56 BUSINESS PLUS M AY 2 0 2 0MORE THAN LAW MEANS SURPASSING EXPECTATIONS We go further to navigate your business. We deliver meaningful insights and trusted advice. At RDJ we believe in partnerships. We believe in working together to deliver excellence. By investing in understanding your business inside and out, we can leverage our deep sectoral expertise for your benefit. We are not just your legal partners. We are your advisors, your connectors, your problem solvers and, above all, your trusted partners. M O R E T H A N L AW. I T S A B O U T YO U R B U S I N E S S . W W W. R D J . I E C O R K | D U B L I N | G A L W AY | L O N D O N
B P S U RV E Y C O M M E R C I A L L AW
‘We will tell our client what we
would do in their position’
BRYAN BOURKE Emily Styles canvassed Managing Partners in Ireland’s
Managing Partner leading commercial law firms about their growth drivers,
William Fry competition, the sector outlook and their USP
ACTIVITY During 2019 we saw huge
growth in our Equity Capital Markets practice.
We acted for the only two Irish companies to
list last year, Uniphar Group and Fineos. Also,
we probably worked on more fund raisings by
listed companies than any other firm in
Dublin. In May 2019, we opened a new office
in Cork, expanding our number of offices
globally to six and enabling the firm to
further service our clients in the Cork and
wider Munster region.
It is our belief that we should make a
positive and lasting difference in our
community, workplace, marketplace and our
environment. We are increasingly seeing
requests from our clients to vet our
corporate responsibility activities as part of
the tender process across several industries.
We are committed to corporate responsibility
as it’s the right thing to do, but also because
we are a business and it makes business
sense to embrace and engage in well thought
out and meaningful corporate responsibility
initiatives.
In January 2020, we appointed Stephen Our Healthcare & Life Sciences team CYBER-SECURITY Cyber-security and
Keogh as our new Head of Corporate/M&A. He provide transactional and regulatory advice data protection are very real threats for the
joined William Fry over 20 years ago, and to some of the world’s leading companies. We legal industry, and a lack of vigilance is
headed the London practice for five years. He will grow and develop our business in this probably the biggest risk. You cannot be
specialises in corporate transactions, with an area through combining many interrelated complacent just because lots of money has
emphasis on the private equity and disciplines – tax, technology, IP, commercial been spent on cyber protection. Our
technology sectors. It is vital for us at contracts – alongside our dedicated ISO 27001 certification recognises our robust
William Fry to continue to ensure our clients Healthcare & Life Sciences specialists to information security management system and
receive the best quality in legal advice. offer the full scope of services required by provides clients with the assurance that we
PRACTICE Our Financial Regulation unit clients. take the security of their data very seriously.
provides advice to financial institutions on all BREXIT Almost immediately following the USP We are of course all strong technical
aspects of regulation and compliance in the Brexit vote, enquiries from UK law firms and lawyers, but we are also business savvy and
financial services sector. This is a hugely regulated financial services institutions practical. At William Fry, we deliver more
successful and growing part of our business started to roll in. We have seen a really than legal and taxation knowledge. Our
in terms of pure regulatory advice but also significant ramp-up in activity, spanning specialists bring their working knowledge of
dispute resolution work. instructions on moving operations to Dublin the business and the sector the client
There is also a continued focus on the and applications for authorisations in the operates in. We explain the options and we
development and growth of our tech/cyber financial services sector. will tell our client what we would do if we
service offering. Following its success in Outside of Dublin, and outside of financial were in their position.
2016, we are revisiting our Europe For Big services, Brexit probably represents more of a Recruiting the best and staff retention are
Data report, addressing the realities that challenge. Depending on how matters develop, top of our list of priorities. In an extremely
have arisen post GDPR roll-out, as well as sectors like agri-business may need to find competitive environment for talent, it would
examining new developments impacting the new markets, and this could cause disruption be incredibly short-sighted of us not to be
sector – AI, machine learning and the (even if only temporarily), which could feed focused on our people and the edge they can
Internet of Things. into activity levels in the broader legal market. give us in that market.
58 BUSINESS PLUS M AY 2 0 2 0B P S U RV E Y C O M M E R C I A L L AW
GEOFF MOORE
Managing Partner ‘We will respond to the
Arthur Cox challenges and opportunities’
ACTIVITY It was a great honour to be
appointed as Managing Partner, and I took up
my role in November 2019. The transition to
the role has been very interesting and I have
learned a huge amount in the past five
months. I had been involved in the
management of the firm in various ways over
the years, so I haven’t had too many
surprises yet. However, it goes without
saying that none of us was expecting the
current crisis, and our response to that has
been a steep learning curve for everyone.
Covid-19 and its aftermath will change the
business landscape as well as so much more
in our society, and is likely to give rise to
challenges that we can’t even anticipate.
Before the crisis, we were very focused on challenges and opportunities that lie ahead. offices in Dublin. I think it is too early to say
our digital transformation strategy, and I COMPETITION The arrival of law firms if the new arrivals will be a competitive
believe that will continue to be a key focus from abroad is not a new development. A threat. Whilst we are not at all complacent,
for the next few years. And there are number of international law firms have experience in other jurisdictions shows that
practice areas that are likely to require established here over the years, generally in there is always room for large independent
investment in the short term that we may niche areas such as funds and insurance. In indigenous firms as well as some
not have thought would do so. We are a more recent times, a small number of international players.
nimble firm and we will respond to the international business law firms have opened Survey continued on page 60
Looking To Move?
Join Ireland’s fastest growing law firm as we continue our expansion.
We are always interested in hearing from experienced lawyers at all levels.
We are seeking new partners and senior lawyers to join our teams in
Aviation Finance, Funds, Corporate, Commercial, Employment & Benefits,
Real Estate and Tax.
If you are a talented lawyer who would like to work with an enviable
client base on a market-leading team, we would like to hear from you.
To apply, visit MHC.ie/lookingtomove
Dublin London New York San FranciscoB P S U RV E Y C O M M E R C I A L L AW
NICHOLAS BUTCHER Irish legal market, but at the Maples Group we
Managing Partner ‘To be the best law listen to our clients’ needs in order to create
novel and tailored solutions for them. We also
Maples Group firm, you need the place a huge emphasis on cultivating strong
and long-lasting relationships with our clients,
ACTIVITY 2019 was a very strong year for best people’ which we believe is fundamental to top-tier
the Maples Group, both in Ireland and across service and success.
the globe. We reached a significant milestone USP To be the best law firm in the market,
in the group’s history having welcomed our you need the best people – simple as that. We
2,000th employee in November 2019. In focus on a very select number of practice
addition we completed a complex rebrand areas, which means our lawyers have deep
which saw Maples and Calder and MaplesFS sectoral knowledge in their respective fields. If
consolidate under a single brand, the Maples we are not going to be the best at something,
Group. we simply do not do it.
All of our practice areas are highly Our people need to be fulfilled to excel. That
complementary and form a service network to is why we place a huge emphasis in ensuring
respond to the needs of our international our people are satisfied professionally, as I
clients. We therefore devote proportional believe that a positive culture enhances and
resources to each practice area. improves client service. Over the past year, we
COMPETITION The legal landscape is in a have spent a huge amount of time working
huge period of flux, with a number of new with our HR team to improve our maternity,
market entrants. This competition raises the paternity and parental leave policies.
bar, bringing out the competitive spirit in our inevitable challenges that we will face in the We recently introduced a range of flexible
lawyers and I am confident we will continue to weeks and months ahead. Ireland, along with and agile working policies as we accommodate
improve our offering, even in these particularly most of the world, is in the grip of the Covid-19 employees’ changing needs, and invest in the
turbulent times. crisis. It remains to be seen what impact this future of our people. All of our lawyers and
We initially entered the Irish market in 2006 unprecedented event will ultimately have on professionals have the necessary capabilities
and have been successfully operating here for the Irish legal market, but it is almost certain to enable them to work effectively on a remote
14 years now. With this experience, I am to herald changes. basis, with secure access to relevant internal
confident we are equipped to navigate the There is no denying it is a highly competitive platforms, as required.
JOHN WHITE
Managing Partner ‘The pandemic economic threat
Beauchamps requires considerable caution
for any business’
ACTIVITY The firm has seen positive growth lean teams so we try to keep costs for the
across all areas of the business up until the client low.
current quarter, especially in our traditional OUTLOOK There is no doubt we are living in
core strengths of banking, commercial property highly uncertain times, with the dual macro
and corporate. We have also become a market threats of Brexit and the Covid-19 pandemic
leader in the social housing sector, working requiring a highly flexible approach to working
with all parties across the range of services and business strategy. Businesses have and
required to deliver many landmark housing will need to continue to evolve quickly during
projects. We are immensely proud of the these changing times. Real human tragedy is at
integral role our award-winning team, led by the heart of the pandemic, but the nature of
partner Fidelma McManus, is playing in helping the uncertain economic threat it poses clearly
to increase availability of housing stock. requires considerable caution for any business.
COMPETITION One of the things USP We actively foster and recruit lawyers
Beauchamps is known for in the market is its for their positive character and ability to co-
traditional value for money, with a first class operate with each other, as well as their
service but at reasonable rates, and that won’t ability to provide practical and clear advice to
change. There is a huge amount of competition clients. While we retain our objectivity as
in the marketplace and clients generally look advisors, we commit fully to achieving our
for alternative fee solutions beyond hourly clients’ goals and aims.
charge-out rates. We believe that we operate Survey contined on page 62
60 BUSINESS PLUS M AY 2 0 2 0The Dillon Eustace client list includes leading national and international
corporates and institutions. From our largest to our smallest clients, the
international quality of our service and expertise is assured.
Banking Dispute Resolution Listing Services
Capital Markets Distressed Investing Litigation
Commercial Property Financial Services Mergers & Acquisitions
Compliance Insolvency Regulatory Compliance
Corporate Finance Insurance Structured Finance
Corporate Recovery Investment Funds Tax
To discuss how Dillon Eustace can help your business, and learn more about our
services, contact Mark Thorne, Managing Partner, on mark.thorne@dilloneustace.ie
or phone 01-6670022.
dilloneustace.comB P S U RV E Y C O M M E R C I A L L AW
MICHAEL JACKSON
Managing Partner
Matheson
ACTIVITY The past year has been a busy
period for Matheson across the entire
business. The firm has expanded both in its
office presence and headcount, where we now
have 740 professionals, of whom 515 are legal,
tax, and digital services professionals.
In line with our overall growth, we
continued to add recognised industry
experience and expertise in the form of Michael Jackson (right) with Tom Connor, Head of Digital Services
external hires and partner appointments,
notably in the areas of corporate M&A, digital
services, employment, technology and activity. Matheson’s tax department and Notwithstanding this, the breadth and depth
innovation, data privacy, commercial real financial services departments remain the of our experience across all areas of
estate and construction. We have also largest groups of their kind amongst Irish law commercial law means that we have the
expanded our office presence in London, New firms. capability to provide the services clients need
York and Cork in response to our growing COMPETITION Few markets of comparable to help them manage through those
client demand. size have as many large law firms, with the difficulties.
We now have more than 30 practice areas leading Irish firms matching many continental USP We believe that our market strategy
across six office locations to service the firms in larger markets in numbers of lawyers. and our people strategy, underpinned by our
needs of all of our clients. A key focus for the That ensures a high level of competition. The core values of partnership, respect,
firm is the increasing demand from clients for quality and value of the professional services innovation, diversity and entrepreneurship,
legal technology, particularly in relation to available in Ireland is one of the factors often give us a competitive edge. Much of the
large-volume deal work, enhanced legal cited by international companies as important transactional growth we have seen in our
process efficiency, and bespoke new digital in their decision to establish in Ireland. corporate M&A group, for example, is driven
products in the delivery of legal solutions. OUTLOOK For over 20 years Matheson’s by the deep relationships we have developed
Another area where we have noted strategic focus has been on servicing the with firms over many years.
significant momentum is our corporate M&A needs of internationally focused businesses We believe that by investing in and
practice. We advised on four of the five and financial institutions doing business from improving a robust talent programme and
announced public takeovers in 2019, providing Ireland, and it is the growth in activity in that continuously delivering innovative client and
counsel to IFG Group plc, Independent News & area which continues to drive the growth in business solutions that we succeed in
Media plc, CGI Inc and Abbvie Inc. Our our business. engaging and motivating our people, which
corporate restructuring department is also In our view, the most significant threat to allows us to maintain our competitive edge.
among the largest of any Irish law firm. Our the sector will come from the threat of Building a more diverse and inclusive
litigation practice had a busy year, and this is economic downturn brought about by the workplace is a key strategic business priority.
an area where we foresee increased levels of Covid-19 crisis. Survey contined on page 64
Award winning commercial legal services
for corporate, SME and emerging businesses.
Commercial Litigation & Dispute Resolution | Insolvency & Corporate Restructuring |
Debt Recovery | Employment Law | Banking & Financial Services | Corporate & Commercial
T +353 1 644 5800 E law@lavellepartners.ie
www.lavellepartners.ie
62 BUSINESS PLUS M AY 2 0 2 0SIDE BY SIDE
WE ACHIEVE MORE
Our mission is to provide the very best legal advice to a diverse and
ambitious range of clients across all practice areas. We believe the
best commercial outcomes come from taking the time to really
understand what drives a client’s business.
John White, Managing Partner
E: j.white@beauchamps.ie
T: +353 (0) 1 4180 600
s.ie
w.beauchamp
www.beauchamps.ieB P S U RV E Y C O M M E R C I A L L AW
ALAN MURPHY brought and the opportunities that came from
Managing Partner
‘What sets our a return to economic growth. Our success
Eversheds Sutherland Ireland model apart is our came from focusing on our clients’ needs and
then growing out of that.
international offering’ We are facing similar challenges now
ACTIVITY As an international law firm, we because of Covid-19 and an increase in
have always had an ambitious growth competition in the market from newcomers. At
strategy. We have experienced accelerated Eversheds Sutherland, we will focus on what
growth in our corporate and commercial we can control – ensuring we provide our
divisions including data protection, intellectual clients with exceptional support and
property, cyber-security, litigation, real estate, unparalleled advisory services.
and financial services. We have a specialist OUTLOOK The unforeseen Covid-19
data centre group and we offer bespoke situation is very difficult, but it will abate and
services for sectors that incorporate data in time trading and commercial deals will
centres, which can be quite complex. resume. Part of the recovery will see Ireland
We have a very strong tax team, and reignite its position as one of the top
provide a strong Irish-US offering. Other areas destinations for US investment and for
such as employment law have also multinationals to do business in Europe and
experienced significant growth, and we are further afield. Additionally, when Brexit
industry-leaders in technology innovation and returns as a political and trade priority, it’s
driving our administrative effectiveness. the UK. Additionally, we have invested heavily likely that more UK companies will declare
In February 2020, our Belfast team moved in our IT structure and as a result, the firm has Ireland as their post-Brexit base.
into new offices, increasing our footprint in adapted very quickly to remote working USP We are a Top 15 global law practice
Northern Ireland. Now with 17 employees and without any issues. with an all-island presence and
ambitions to grow to 25 by the end of the COMPETITION By some distance we are multidisciplinary expertise. Clients are
year, the larger space gives us greater the largest global law firm on the island of becoming more globalised and multi-
flexibility for further growth. The Dublin and Ireland, with by far the greatest strength and jurisdictional, and what sets our model apart
Belfast offices work closely together offering depth of expertise, and the longest local is our international offering. We take a
expert legal services, including a specialist heritage. In my time at the firm, I have commercially driven, solution-focused, and
‘Brexit-hub’ across the island of Ireland and experienced the challenges a recession ‘can-do’ approach.
GAYLE BOWEN ‘As a new entrant, our lawyers
Partner, Head of Office Dublin
Pinsent Masons are hungry and ambitious’
ACTIVITY Seeing the number of staff COMPETITION There has been an upward
increase from 11 to almost 60 in the past year pressure on salaries due to more competition
has been very exciting and has changed the in the market. However, we find that most
dynamic of our office. It has also seen us lawyers do not move solely for pay
become a full service offering to our clients, increases. Offering our staff agile working
which helps us in all the areas that we conditions and a positive, inclusive working
practise. environment also makes a difference. We are
Initially, our focus was to expand the servicing our clients not just in Ireland but
practice areas that we offer to cover our five across their European and global businesses,
global sectors, which are real estate, energy, and this can bring natural efficiencies to
infrastructure, financial services, and advanced our clients.
manufacturing & technology. Now we are OUTLOOK We expect the coronavirus to
looking to deepen the bench strength of our have an impact on all businesses in the
existing teams and expand into new areas such coming months. To date, luckily, we have not
as IP and life sciences; litigation and seen a significant drop-off in work volumes
regulatory; big data, technology and cyber; or revenues.
financial services; and energy, infrastructure USP As a new entrant into the market, our
and property. lawyers are hungry and ambitious. We have
We have targeted these areas because our also been very successful in hiring high-
key contacts are often general or regional global business. Similarly in terms of litigation, profile candidates across our specialist areas.
counsel for our clients’ EMEA business. They clients see huge benefits in being able to Our global sectoral approach sets us apart
are not just interested in the local position in conduct their litigation strategy through from other firms, and this is very important
one market in isolation from their European or one firm. to our clients.
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