Madrid annual report compliance and white collar crime issues . Alonso adds that arbitration is a growing area as there will be more energy-related disputes . In addition , he says that there will be more cases concerning real estate-related white collar crime .
There are a lot of opportunities for Madrid ’ s law firms , according to Cuatrecasas , Gonçalves Pereira partner Fernando Bernad . “ Banks need to clean up their balance sheets and political changes [ due to the forthcoming general election ] could bring about further structural reforms ,” he says .
Ashurst ’ s Spain managing partner María José Menéndez says that banks are “ under pressure to do business at a particular margin ” and consequently there will be opportunities for law firms as banks look to fintech and the distribution of new products . She adds : “ There will be another round of consolidation in the banking sector .”
Linklaters ’ Madrid managing partner Iñigo Berricano has an optimistic outlook in terms of prospects for the coming year . “ It wasn ’ t looking very good in September , but investors have overcome their political concerns – the IPO of Telepizza , for example , was linked to good consumption forecasts ,” he says . “ A lot will happen in the banking sector , there will be M & A deals and also restructuring as there are companies that still have issues – some companies will continue with the disposal of non-core assets and there are funds that still show interest in the country .”
Transactions slowing down Luis Fernando Guerra , managing partner of Deloitte Abogados , says the prospects for the Spanish economy are “ much better than they were a year and a half ago ” and that the economic environment will improve further in the coming months .
However , Ontier Spain managing partner Pedro Rodero has a number of concerns . “ Spain has lost almost one year without a government ,” he says . “ A lot of transactions with regulatory aspects have slowed down because politicians are reluctant to take decisions and reach agreements on crucial matters .” Ramón Fernández- Aceytuno , partner at Ramón y Cajal , says : “ We have seen that many operations are on standby
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There will be another round of consolidation in the banking sector .
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María José Menéndez Ashurst
for the time being – the political situation is critical .”
The forthcoming elections in Spain may result in changes to the civil procedure laws and labour regulations , says Bernad . “ This will affect the ability of landlords to carry out evictions and this will impact on investment in portfolios of residential property , as well as on the ability of the jurisdiction to compete for new investments ,” he adds . However ,
Rodero says he anticipates continuing growth in M & A and capital markets work , as well as increased investment in the real estate and industrial sectors . “ In addition , criminal advice is a growing area as corporate crime is a day-to-day issue ,” he adds .
Allen & Overy partner Antonio Vázquez-Guillén says his firm experienced a growth in revenue of around
What are the biggest management challenges law firms currently face ?
“ Clients are demanding intercultural , close and competitive advice in terms of cost . Law firms have to evolve their structures and business processes .” Lucas Osorio , Madrid managing partner , Hogan Lovells
“ Law firms will need to manage these factors with special care , paying special attention to the identification and retention of talent .” Luis Miguel de Dios , partner , CMS Albiñana & Suárez de Lezo
“ The technology challenge for us is twofold . On the one hand , it must be embraced by everyone in the organisation so that we can improve our services , save costs and be quicker . On the other hand we must keep updated if we want to be able to advise our clients properly on the constantly evolving issues .” Juan José García , managing partner , Yingke Adarve Law Firm
“ Watson [ artificial intelligence developed by IBM ], second brands , outsourcing , millennials asking for different ways of doing things , the ‘ Big Four ’ fighting to be acknowledged among the best , internationalisation , being recognised as a boutique or as one of the top law firms in a given number of practices , fighting against the perception of legal work as a pure commodity .” Julio Veloso , partner , Broseta
“ The big challenge is differentiation , to be creative in methodology . The ability to go beyond the standard procedures is key not only to add value to the client but also to our industry , which evolves thanks to the dynamism of the professionals who form part of it . To offer a good service it is key to combine technical ability , creativity and client insight .” Adolf Rousaud , managing partner , Rousaud Costas Duran
“ Adapting to the enormous pressure on fees .” Francisco G . Prol , founding partner , Prol y Asociados
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