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The Strategy of a Global Professional Services Organization
- How can Multidisciplinary
Partnerships Influence the Future
Business of Law Firms
WSG 2016 European Regional Meeting – 29 April 2016
Page 2
Conte
nts
01A global professional services firm
02
A case on “local going global”
04Danish law firms – outside-in
perspective
WSG 2016 European Regional Meeting
03What is EY Law
Page 4
The Big 4 global networks – “A franchise”
Big 4
Services co.
Big 4
Brand/governance
(cooperative)
Member Firms (Economic Interest)
UK USADK S ETC.
Non-
operating
Operating
Export Export Export Export
Import Import Import Import
Member Firm
Agreement
(Territory, Brand,
Knowledge)
Franchise
Fee
Services
Agreement
(IT, back
office, etc.)
Fee for
Services
(Cost plus
model)
VALUE DRIVERS
WSG 2016 European Regional Meeting
Page 5
Globalisation, new client needs- Reasons for KPMG Denmark joining EY Global
WSG 2016 European Regional Meeting
Globally
EU harmonization• EU legislation
• EU/global standards
Scale of competences• Regional centers of excellence
(”McKinsey model”)
• Offshoring of resources
(Poland/Romania/India)
Scale of back office• Shared service/off shoring/out
sourcing
• Globally integrated systems
Client globalization• Global teams/decisions
• Globally controlled network
Nationally
EU harmonization• National audit legislation
• National standards for supervision
Scale of competences• National competence
• National resourcing
Scale of back office• National back office
• National applications/systems
Client globalization• National teams/decisions
• National focus/loose ”franchise”
At present, EY Global is the only globally controlled network
Page 6
The Why/Why now
► Strategic analysis/business case
► KPMG International loosing ground, weak structure, low growth
► EY stronger global network/strong Nordic Region + more supportive to
local firms
► KPMG Denmark + EY Denmark
► Increased market share
► Better scale in service lines
► Significant back office synergies
► EU regulation forces churn of 30% of revenue from now to 2023
► Only limited carve out issues (due to lack of integration in IT systems,
balance in inbound/outbound work)
WSG 2016 European Regional Meeting
Page 7
What is EY Law
WSG 2016 European Regional Meeting
Page 8
Combining global reach with local knowledge
WSG 2016 European Regional Meeting
Legal Services 71 countries | 1600 legal professionals
Status March 2016
Page 9
A snapshot of EY’s legal services
WSG 2016 European Regional Meeting
Multi-
disciplinary,
sector focused
and integrated
legal services
= EY
Core Services
► Corporate/Commercial
► Labor & Employment
► M&A/Transactions
► Financial Services
Industry Experience
Automotive | Banking & Capital |
Government & Public Sector | Life
Sciences | Mining & Metals | Oil & Gas
| Power & Utilities | Private Equity |
Real Estate | Technology |
Telecommunications
Specialized practice groups
Insolvency & Restructuring |
IP/IT & Data Privacy | Real Estate |
Public | Distribution & Franchise| State Aid &
Competition
A global reach
With a presence in over 70
jurisdictions across the globe, we are
able to provide our clients with
multijurisdictional reviews and advice.
Page 10
Core legal services we offer to our clients
WSG 2016 European Regional Meeting
Corporate/
Commercial
► Company
► Commercial
► Shareholders’ Controversy
► Corporate Governance
Labor &
Employment
► HR legal advisory &
compliance assessment
► Mergers & acquisitions &
business transformations
► Corporate restructuring &
Reductions in Force
► Compensation & benefits
► Social security
► Labor & employment
regulatory
► Employee and data privacy
► Dispute resolution
M&A/
Transactions
► Antitrust clearance
► Buy and sell side legal
advisory
► Buy and sell side legal due
diligence
► Buy and sell side
legal structuring
► Post- acquisition integration
Financial
Services
► Banking
► Asset Management
► Insurance
► Regulatory & Compliance
► Equity offerings
in capital markets
► Corporate Finance
Page 11
Specialized practice groups
WSG 2016 European Regional Meeting
IP/IT
► Intellectual property
► Media/Entertainment
► IP/IT transactional
work and E-commerce
► Data Protection and
Privacy
Public
► Incentives/ Subsidies
► Building/ Planning Law
► Public procurement
► Environmental Law
► Community Law
► Energy Law
► Public compliance
► Budget Law
► Public Trade Law
► Medical Law
► Public law contracts
► Administrative litigation
Insolvency &
Restructuring
► Corporate Restructuring
and Formal Insolvency
► Transaction Planning
► Insolvency Dispute
Resolution
► Corporate recovery
► Debt offerings/
Debt restructuring
Real Estate
► Development
► Financing
► Funds
► Investments
► Planning and Zoning
► Sustainable Real
Estate
EU State aid law
-Merger control
-Antitrust law
(cartels,
compliance, vertical
restraints)
-Trade law (anti-
dumping, anti-
subsidy)
Competition &
State Aid
► EU State aid law
► Merger control
► Antitrust law
(cartels,
compliance,
vertical restraints)
► Trade law (anti-
dumping, anti-
subsidy)
Page 12
Our integrated and sector focused approach
WSG 2016 European Regional Meeting
Page 13
Our client solutionsLaw is offering innovative solutions for our clients’ challenges
WSG 2016 European Regional Meeting
Law has developed multidisciplinary “client solutions” which will help to provide our clients
with required strategic support in cost-competitive manner by maintaining high level of
quality.
These are: Operation model effectiveness; Legal entity rationalization; Country manuals for
cross-border financial business; Pre- and post transaction reorganizations; Global data
protection and privacy compliance; Private M&A and Global workforce compliance.
Page 14
Danish law firmsOutside-in perspective
Law
fir
ms
WSG 2016 European Regional Meeting
Very technical within respective competence areas
Come across as old-fashioned
Is it an integrated law firm or lawyers co-operating?
”My” client vs ”our” client vs ”the network’s” client
Lack of account centric approach regarding sales
Today, young people want to work in teams
National focus vs global client approach
Biggest competitors are the in-house function + other law firms
How do you develop new services?
Digitalization – new competitors?
EY | Assurance | Tax | Transactions | Advisory
About EY
EY is a global leader in assurance, tax, transaction and advisory services.
The insights and quality services we deliver help build trust and
confidence in the capital markets and in economies the world over. We
develop outstanding leaders who team to deliver on our promises to all of
our stakeholders. In so doing, we play a critical role in building a better
working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the
member firms of Ernst & Young Global Limited, each of which is a
separate legal entity. Ernst & Young Global Limited, a UK company limited
by guarantee, does not provide services to clients. For more information
about our organization, please visit ey.com.
© 2016 EYGM Limited.
All Rights Reserved.
EYG no. DL1167
ED None
This material has been prepared for general informational purposes only and is not
intended to be relied upon as accounting, tax, or other professional advice. Please
refer to your advisors for specific advice.
ey.com
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