The law market is more complex today and more competitive than it was 15 years ago. In our professions we contribute decisively to the creation of the essential premise in the conduct of business, namely trust
Reff & Associates Video Conference – Deloitte Legal – ZF. What does it mean to be a business lawyer and legal director in a large company and how has this profession evolved in the last 15 years?
Alexandru Reff, country managing partner of Deloitte Romania and the Republic of Moldova
Alexandru Reff, country managing partner of Deloitte Romania and the Republic of Moldova, said at the video conference Reff & Asociații – Deloitte Legal – ZF “What it means to be a business lawyer, but also a legal director in a large company and how this profession has evolved . in the last 15 years? ”that the Romanian business law market is much more complex than 15 years ago.
“The market is much more complex today and certainly more intensely competitive than 15 years ago. There are many more competencies that are internalized, not a few companies with legal departments the size of a large law firm. At the same time, the market is more fragmented, because we did not witness mergers “, said Alexandru Reff.
The event was also the occasion of the 15th anniversary of the law firm Reff & Asociații – Deloitte Legal, which is now in the top 5 largest law firms in Romania. Alexandru Reff spoke about how the legal profession changed between the two crises and how business law is evolving in tandem with the economy.
“Business law is evolving broadly with the economy. There was a boom until 2008-2009 that put the professional test to the test, but it proved resilient because, as we all know, lawyers are needed at all stages of the business cycle. The economic recovery that followed this crisis has been slow, and the dynamics of supply and demand have been affected, with an impact on the fees and profitability of the legal profession. “
Consequently, he continues, this situation has led to some underinvestment in new generations of business lawyers, at least in certain sectors. “The pandemic, which I saw at the beginning of a crisis in the economy, has actually increased the demand for legal aid and we see the profession operating at full speed and, unfortunately, with a shortage of staff.” . , said Alexandru Reff.
The law firm Reff & Asociații -Deloitte Legal together with ZF organized on Wednesday, December 15, the video conference “What does it mean to be a business lawyer, but also a legal director in a large company and how has this profession evolved in the last 15 years?” . The recording of the event, which brought to the table the debates of the heads of the legal departments in the companies, can be followed on the Facebook page of Ziarul Financiar and of the Facebook pages of Deloitte Romania and Reff & Asociații I Deloitte Legal.
During the event, Alexandru Reff said that he expects the impact of the legal profession to increase in the next period and brought as an argument the increasingly strict regulation by the authorities, which increases the need for legal assistance for companies.
“What remains constant is the essential role that lawyers and jurists play between the state and the individual or between the state and the business environment. The statute is spending more and more, and for that it needs to collect more and more, to be more strict and more intrusive and not to regulate more, so I expect the impact of the legal profession to increase in the next period. “
Also, the interest of young people for the profession of business lawyer remains high, and the role of professionals in business law will be strengthened in the next period, concluded Alexandru Reff.
“Beyond the many changes that all regulations bring, as well as the advancement of technology, we still see an extremely important role for business law professionals in the future and a significant interest of young people to join our professions. In our professions we contribute decisively to the creation of the essential premise in the conduct of business and my trust. “