Financial Times Innovative Lawyers report for Europe 2022
The FT Innovative Lawyers report for Europe, published on 14 October 2022, features RSGI’s latest research on the European legal sector. This report features a brand new index of law firms which takes into account a variety of metrics for success, reflecting the fact that a successful modern law firm can demonstrate more than just high profits. We also looked at how people are being nurtured, how clients perceived the firms and what steps the firms had taken to embrace digital transformation. The innovation index published in this year’s report shows how the sector has changed, impacted by the lasting effects of the pandemic on the way that people want to work, as well as reeling from a bumper financial year in 2021.
Ashurst took home the award for Most Innovative Law Firm in Europe this year, with high scores in people management and digital transformation as well as a hefty innovation score. Its revenue growth of 24% in the last three years can at least partly be explained by the creation of its digital delivery arm Ashurst Advance.
Spanish firm Ecija meanwhile took home the award for Most Innovative Law Firm in Europe outside of the UK. Clients strongly associate Ecija’s brand with innovation, and this is reflected in its 29% growth over the past three years. It is among the law firms on the continent which are leading the way in professionalising their organisations.
Reena SenGupta provides her perspective on the changing metrics of success in law in the Financial Times, available to read here along with the FT Law Firm Index for 2022.
Notable innovators this year include the individuals highlighted for leading change in their organisations and the industry. These practitioners show how innovation comes about, challenging assumptions about the way things have always been done and showing boldness as leaders.
MOST INNOVATIVE LAW FIRM IN EUROPE: Ashurst
MOST INNOVATIVE LAW FIRM IN EUROPE (OUTSIDE THE UK): Ecija
INNOVATION IN RESPONSIBLE BUSINESS: Travers Smith
SUSTAINABLE BUSINESS OF LAW: Pinsent Masons
INNOVATION USING DATA: Cuatrecasas
DIGITAL LEGAL SERVICES: Norton Rose Fulbright
CHALLENGING TRADITIONAL MODELS: GunnerCooke
DESIGNING THE CLIENT EXPERIENCE: Simmons & Simmons
PROFESSIONALISING BUSINESS SERVICES: Ecija
INNOVATION IN ADJACENT SERVICES: Deloitte Legal
INNOVATION IN CREATING NEW STANDARDS: Latham & Watkins
INNOVATION IN LONG TERM STRATEGIES FOR SUCCESS: Vieira de Almeida
INNOVATION IN MANAGING COMPLEXITY: Herbert Smith Freehills
INNOVATION IN MARKET FIRSTS: Hogan Lovells
INNOVATION IN MULTI-DISCIPLINARY TEAMS: Ashurst
INNOVATION IN OVERCOMING BARRIERS TO FINANCE: Wiersholm
INNOVATION IN LEARNING AND DEVELOPMENT: Hogan Lovells
INNOVATION IN PEOPLE MANAGEMENT: PwC Tax & Legal Spain
INNOVATION IN DIVERSITY AND INCLUSION: DWF
INNOVATION STRATEGY: DWF
Most Innovative Practitioner: Alexander Oddy, partner, Herbert Smith Freehills
Read his profile here
Most Innovative Intrapreneur: Christopher Georgiou, partner, co-head Ashurst Advance, Ashurst
Read his profile here
Special commendation: Dana Denis-Smith, chief executive, Obelisk Legal Support
Dana received special recognition at the awards for her contributions to advancing diversity in the legal profession. Read more about her work here
In-house legal teams have taken huge leaps forward in recent years in the pursuit of greater efficiency and symbiosis with the business. We spoke to teams at Fujitsu, AB-Inbev, Bayer and more who have embraced enterprise technology and invested heavily in data collection and visualisation software.
Visibility and usability are not often words we associate with legal teams, but this is increasingly what we are seeing from the most innovative teams. Read more about this trend in Mary Ormerod’s article for the Financial Times, available here.
MOST INNOVATIVE IN-HOUSE LEGAL TEAM IN EUROPE: Bayer
IN-HOUSE LEGAL TEAM: INNOVATION IN TALENT MANAGEMENT: Ubisoft
IN-HOUSE LEGAL TEAM: INNOVATION IN SUSTAINABILITY AND RESPONSIBLE BUSINESS: Airbnb
IN-HOUSE LEGAL TEAM: DIGITAL INNOVATION: Fujitsu
IN-HOUSE LEGAL TEAM: INNOVATION IN RISK MANAGEMENT: Anheuser-Busch InBev
IN-HOUSE LEGAL TEAM: INNOVATIVE OPERATIONAL EFFICIENCY: UBS
IN-HOUSE LEGAL TEAM: INNOVATIVE COMMERCIAL AND STRATEGIC PARTNERS: Aviva
