KPMG Legal Tóásó Law Firm > Budapest, Hungary > Firm Profile
KPMG Legal Tóásó Law Firm Offices
H-1134 Budapest, Váci út 31
Hungary
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KPMG Legal Tóásó Law Firm > The Legal 500 Rankings
Hungary > Data privacy and data protection Tier 2
KPMG Legal Tóásó Law Firm fields a wealth of data protection expertise and its own privacy management framework, producing GAP analysis and action plans. A recent increase in mandates from notable names in the fintech and software industries has seen the group continue to expand its diverse clientele. As well as data protection implementation projects, the team regularly handles data protection litigation, representing clients before the Hungarian Data Protection Authority. Fanni Márkus, co-head of the data, digital and technology team, is an expert in data protection, privacy and cybersecurity issues. Márkus' counterpart Nora Takacs focuses on data protection due diligence and GDPR compliance projects.Practice head(s):
Fanni Márkus; Nora Takacs
Key clients
SANOFI-AVENTIS Zrt
Garantiqa Hitelgarancia Zrt.
Raiffeisen Bank Zrt.
Dataxo Group Zrt.
Kometa 99 Zrt.
Amnesty International Magyarország
Amigos a Gyerekekért Alapítvány
EOS Faktor Magyarország Zrt.
Intrum Zrt.
Manpower Munkaerő Szervezési Korlátolt Felelősségű Társaság
Knapp Hungary Kft.
ALD Automotive Magyarország Autópark-kezelő és Finanszírozó Kft.
Pediatrics Clinic no. I. of Semmelweis University (Bókay Child Clinic)
Colas Hungária Építőipari Zrt.
Budapest Motors Kft.
Kärcher Hungária Kft.
Melco Mobility Solutions Hungary Kft.
SAS Magyarország Vagyonkezelő Zrt.
Work highlights
- Acting as local data protection officer of the Hungarian Sanofi entities, advising on the preparation of data protection notifications, data processing agreements and joint data controlling agreements, as well as handling data subjects’ requests and data breaches.
- Providing full-scale data protection support to ALD Automotive Hungary Car Fleet Management and Financing Limited Liability Company in relation to the introduction of telematics services utilising telecoms, GPS and AI for IoT fleet management.
- Providing full-scale data protection support to Melco Mobility Solutions Hungary, including assisting with a GDPR maturity assessment, preparation of data privacy notices, data privacy policy, document handling policy, interest balancing tests and DPIA.
Hungary > Banking, finance and capital markets Tier 3
Gergő Szalai-Bordás leads the banking and finance team at KPMG Legal Tóásó Law Firm. The practice is noted for its specialism in financial regulatory matters, as well as its knowledge of the Hungarian receivable management industry. Tamás Varga’s extensive knowledge of the operation and structure of financial institutions makes him well positioned to advise on their establishment and authorisation proceedings before the National Bank of Hungary. Tamás Vágner has a wealth of capital markets experience and also advises on insolvency issues.Practice head(s):
Gergő Szalai-Bordás
Other key lawyers:
Tamás Varga; Tamás Vágner
Key clients
KOMETA 99 Zrt.
Manpower Group
BankBee Payment Zrt.
Textura Zrt.
Bank of China (Közép-Kelet-Európa) Zrt.
EMAG Group
China Construction Bank (Europe) S.A.
VakifBank International AG
DiPocket Ltd.
Ford Group
MNM Invest Zrt.
Pepco Group Limited
OTP Bank Nyrt.
Global Payments Europe s.r.o.
Intrum Zrt.
Trive Financial Holding B.V.
Groupama Biztosító Zrt.
Arch Insurance
Friedrich Boysen GmbH & Co. KG (Boysen Group)
HB Reavis Real Estate Development Fund
Work highlights
- Advised KOMETA on a €40m financing.
- Advising Textura on a €13m bond issuance.
- Advising a consortium of banks on a €10m refinancing.
Hungary > Commercial, corporate and M&A Tier 3
The corporate and M&A team at KPMG Legal Tóásó Law Firm advises a growing list of financial institutions and investors on acquisitions, disposals and joint ventures. Four experts jointly lead the team: Bálint Tóásó, Gergő Szalai-Bordás, Boglárka Németh and Petra Földesi. Földesi, who was promoted to co-head of the practice in April 2023, assists with a range of M&A transactions and corporate law issues, including due diligence processes. Tóásó brings regulatory and compliance expertise to the leadership quartet, while Szalai-Bordás focuses on the banking and regulatory space, advising credit institutions and financial enterprises.Practice head(s):
Bálint Tóásó; Gergő Szalai-Bordás; Petra Földesi; Boglárka Németh
Testimonials
Very easy and quick communication. Customer oriented in terms of easy signatures and digital processes to expedite processes.’
‘Gergő Szalai-Bordás is very good and very customer oriented. Clear and easy communication. High sense for customer needs and urgency of situations.’
‘The team’s reaction to client requests and needs is exceptional. Quality of all lawyers is amazing. Great team, can only recommend to everyone.’
‘Engagement of partner Bálint Tóásó is exceptional.’
Key clients
EXIM Exportösztönző Magántőkealap
KOMETA 99 Zrt.
Ali Bin Ali Group
ALD Automotive Magyarország Kft.
Friedrich Boysen GmbH & Co. KG (Boysen Group)
Daniella Kft. / Weerts Group S.A.
KNAPP AG
Glastronic Hungary Kft.
HP Inc Magyarország Korlátolt Felelősségű Társaság
Elanco Hungary Korlátolt Felelősségű Társaság
Enka Insaat ve Sanayi Anonim Sirketi
LEO Pharma A/S
Vincotech Hungária Elektronikai Gyártó Kft.
Trive Financial Holding B.V.
Renishaw Hungary Korlátolt Felelősségű Társaság
Work highlights
- Advised EXIM Exportösztönző Magántőkealap on one of its investments.
- Advised KOMETA 99 on an agreement regarding its call option and the call option of one of its shareholders, assisting with drafting the relevant agreement, JVC and AoA amendments, and with the preparation for the respective shareholders’ meeting approvals.
- Advised ALD Automotive Magyarország Autópark-kezelő és Finanszirozó Korlátolt Felelősségű Társaság on the feasibility and means of acquisition of LeasePlan Hungária Gépjárműpark Kezelő és Finanszírozó Zártkörű Részvénytársaság.
Hungary > Competition Tier 3
The ‘diverse and well prepared’ team at KPMG Legal Tóásó Law Firm offers comprehensive competition and antitrust advice, with a focus on due diligence and training. The practice also handles competition-related litigation. Boglárka Németh, who was promoted to senior associate in June 2023 and has particular expertise in antitrust procedure, as well as merger clearance, consumer protection and state aid matters, heads up the group.Practice head(s):
Boglárka Németh
Testimonials
‘A diverse and well prepared, multi-lingual team.’
‘Professionalism, high level of helpfulness, hands on approach.’
Key clients
Trenkwalder Leasing Kft
Trenkwalder HR Solution Kft
Trenkwalder Recruitment Kft
Daniella Kft/ Weerts Group S.A.
Work highlights
- Represented Trenkwalder subsidiaries in litigation proceedings arising as a consequence of a major investigation by the HCA into alleged price fixing and other competition law infringements in the staffing market.
- Advising a German-based multinational cleaning technology specialist on the establishment and continuous development of its competition law compliance policy and operation.
- Provided HB Reavis with competition advice concerning the structuring of a sale.
Hungary > Employment Tier 3
From labour compliance issues, to employment contracts, to workplace disputes, KPMG Legal Tóásó Law Firm fields a comprehensive employment offering. The team is practiced at handling sensitive matters, including internal investigations, mass redundancies and individual dismissals. With a diverse and growing clientele, the practice has expanded its focus to include major names from the pharmaceutical sector. Employment law specialist Boglárka Kricskovics-Béli leads the team, bringing over 15 years’ experience advising on employee benefits, pensions, and global mobility to the role.Practice head(s):
Boglárka Kricskovics-Béli
Other key lawyers:
Key clients
Manpower Munkaerő Szervezési Kft.
Hexagon Ammunition Zrt.
Beretta Holding SA
SAS Magyarország Vagyonkezelő Zrt. (Fourseason)
Grafton Recruitment Services Kft. (GI Group)
Kärcher Hungária Tisztítási-Rendszerek Kft.
Trenkwalder Kft.
DANIELLA Kereskedelmi Kft.
SPG Sportcikk Kereskedelmi Kft. / Intersport
ALD Automotive Hungary Kft.
Richter Gedeon Nyrt.
Glastronic Hungary Kft.
dm-drogerie markt GmbH
KNAPP AG
WPG EMEA B.V.
Harvey Norman
Berlin-Chemie/A. Menarini Magyarország Kereskedelmi Korlátolt Felelősségű Társaság
Carl-Zeiss Vision Hungary Kft.
Dataxo Group
Mondi Bags Hungary Kft.
Kometa 99 Zrt.
Cambridge Commodities
BMW Hungary Kft.
Ferro S.A.
Bunzl Magyarország Kft.
Work highlights
- Assisted Hexagon Ammunition with the preparation of employment contracts for all of its C-level management members.
- Assisted SAS Magyarország with an internal investigation of a sensitive nature.
- Advised Grafton Recruitment Hungary on the termination of a C-level employee.
Hungary > Dispute resolution Tier 4
The dispute resolution team at KPMG Legal Tóásó Law Firm is composed of experienced arbitrators and litigators, and has experience appearing before international arbitral tribunals, and national and international courts. Manuela Grosu is active in both domestic and cross-border arbitration, as well as mediation. Grosu leads the team alongside Bálint Tóásó, who specialises in data protection and privacy cases.Practice head(s):
Bálint Tóásó; Manuela Grosu
Testimonials
‘KPMG Legal Tóásó Law Firm offers alternative legal solutions, with the primary goal of achieving a solution favorable to the client. They do not limit themselves only to strictly procedural solutions, but also propose other types of legal instruments that can be used.’
‘Bálint Tóásó looks at the client’s problem in a holistic way, striving for a quick and satisfactory solution.’
‘Manuela Grosu has extensive knowledge and experience in conducting disputes. She presents the procedural situation and possible further actions in a clear and comprehensive manner.’
‘Great approach. A good variety of specialist knowledge.’
‘Great client service. Quick response times. Easy and smooth communication.’
‘KPMG Legal Tóásó Law Firm has good knowledge and reliable professional experience in dispute resolution matters. They handle matters with confidence, focusing on the most important elements, but not ignoring any important detail. They work very effectively. They are strong in client care, they always strive to give solutions for their clients.’
‘Manuela Grosu is highly qualified with strong theoretical and practical knowledge and experience, particularly in arbitration matters.’
Key clients
Trenkwalder Group
Marcas MC Zrt.
Bunzl Magyarország Kft.
Glastronic Hungary Kft.
Work highlights
- Representing Trenkwalder Group in front of Budapest-Capital Regional Court in a procedure initiated to overturn the decision of the Hungarian Competition Authority issued in a cartel case.
- Represented MARCAS MC before the European Court of Justice in a preliminary ruling procedure and before the Curia of Hungary in the underlying domestic tax litigation procedure.
- Representing Glastronic Hungary in an employment litigation procedure initiated by a dismissed employee.
Hungary > Real estate and construction Tier 4
The real estate team at KPMG Legal Tóásó Law Firm has significantly expanded its clientele, taking on new real estate developers. The practice advises clients on sales and acquisitions, as well as development and negotiation of lease agreements. Tamás Tasnádi co-leads the team, advising on construction mandates and real estate-related M&A transactions. With a particular focus on factory developments, Tasnádi's counterpart Boglárka Németh advises on a range of construction projects.Practice head(s):
Tamás Tasnádi; Boglárka Németh
Testimonials
‘Easy ways of communication, good understanding of the business.’
‘High sense of understanding client needs.’
‘Very easy and clear communication. Solution oriented. Very good sense for ugency of cases.’
‘To mention an extraordinarily good practitioner: Tamás Tasnádi.’
‘Since the beginning of our collaboration KPMG Legal Tóásó Law Firm demostrated a very high level of professionalism, availablility, undestanding, and dedication towards the client’s needs and interests. I have always been very happy and satisfied with the quality of responses and prompt solutions received.’
‘Helpful and available even at short notice, with full professionalism.’
‘The team is highly qualified at the maximum understanding of business situations. They prepare all significant issues with the highest care for our interests and with clear explanations of the risks of options.’
Key clients
HB Reavis Real Estate Development Fund
Daniella Kft. / Weerts Group / HAD Real Estate
Friedrich Boysen GmbH & Co. KG (Boysen Group)
Vincotech Hungária Kft.
Work highlights
- Advised HB Reavis on the sale of its real property, which was bought by a player in the Hungarian banking sector.
- Advised Boysen Group on the acquisition of an industrial plot on which the client’s new production factory will be built, and on the design phase of the investment.
- Advised Weerts Group on its construction project in Vecsés, developing a manufacturing hall for a Canadian-based parts manufacturer for automakers.
KPMG Legal Tóásó Law Firm > Firm Profile
The firm: At KPMG Legal we believe that in today’s business environment decision makers appreciate professional advice that goes beyond the traditional legal ramifications of their actions and plans. Therefore, we have made it to our top priority to deliver integrated legal solutions that simultaneously recognize business priorities and appropriately reflect to all ‘real life factors’.
The comprehensive experience of our experts and the collective know-how of KPMG’s professional network allows us to satisfy our client’s needs in the most efficient way, with all of the advantages of an ultimate one-stop-shop service.
We have a strong belief in approaching legal challenges in an innovative and dynamic way and we have made ‘bring your own approach’ to our firm’s mantra. To put it simply, we are committed to the power of discussion and we understand that it will always create the kind of team-work which is essential for the rendering of first-class services. We believe in solutions instead of problems.
Besides the traditional, full-scale legal work, we also put special focus on exploiting the 21st century’s new opportunities. Therefore we also pay particular attention to the connection of the law and technological development.
In the recent years our Law Firm has grown significantly to 25+ strong team, including 12 senior attorneys heading our various departments.
Main practices include Corporate/M&A, Arbitration and Litigation, Employment, Competition Law, Joint Venture Disputes, Compliance, Real Estate, Banking&Finance with strong focus on regulatory affairs and Tax Litigation.
Main Contacts
Department | Name | Telephone | |
---|---|---|---|
Real estate | Bálint Tóásó | ||
Data Protection | Boglárka Kricskovics-Béli | ||
Employment | Boglárka Kricskovics-Béli | ||
Corporate/M&A | Bálint Tóásó | ||
Data protection | Bálint Tóásó | ||
Data protection | Fanni Márkus | ||
Arbitration & Litigation | Manuela Grosu | ||
Banking & Finance | Gergő Szalai Bordás | ||
Joint venture disputes | Manuela Grosu | ||
Competition/antitrust | Ákos Krénusz | ||
Corporate / Compliance | János Rinfel | ||
M&A / Real Estate | Tamás Tasnádi | ||
Real Estate | Ákos Krénusz | ||
M&A | Gergő Szalai Bordás |
Lawyer Profiles
Photo | Name | Position | Profile |
---|---|---|---|
Manuela Grosu | Managing Associate | View Profile | |
Boglárka Kricskovics-Béli | Managing Associate | View Profile | |
Bálint Tóásó | Managing Partner | View Profile |
Languages
English (fluent) German Hungarian ItalianClient testimonials
CLIENT: International real estate investor
COMPANY/FIRM: KPMG Legal Tóásó Law Firm
TESTIMONIAL: Tóásó Bálint and his team of attorneys are outstanding and clearly some of the best in the field of real estate and company law in Hungary. They managed to succeed to solve a very dim situation for my company by immense knowledge, working hard always, being responsive, accessible and honest. In times of despair a friendly word and a smile helped as well. Money well spent! I am very thankful for the services rendered.
CLIENT: Austrian based international manufacturing company
COMPANY/FIRM: KPMG Legal Tóásó Law FirmTESTIMONIAL: I regret that KPMG Legal Tóásó Law Firm does not have offices all over the world
CLIENT: International recruitment company
COMPANY/FIRM: KPMG Legal Tóásó Law Firm
TESTIMONIAL: The labour law team of KPMG Legal has a firm knowledge of employment law and practices, and provides client focused advices based on a good understanding of the business needs. They are responsive and provide the most convenient solutions well prepared for decision makers
CLIENT: Leading global packaging company
COMPANY/FIRM: KPMG Legal Tóásó Law Firm
TESTIMONIAL: The team of KPMG Legal has a deep and thorough knowledge in corporate and employment law. They understand our goals and needs and they provide clear, easily understandable solutions. The team is solution oriented and very responsive.
Diversity
KPMG Legal – what we stand for
At KPMG Legal, we share the values of our global KPMG family. Having said that, we inspire confidence and empower change in all we do. We challenge ourselves to bring our absolute best to clients, to the public and to one another, every single day.
It’s not just what we do at KPMG Legal that matters: we also pay attention to how we do it. Our Values are our core beliefs, guiding and unifying our actions and behaviors. Shared across every level and in every country, jurisdiction and territory in which we operate, they are the foundation of our unique culture. They enable us to bring out the best in our people. And they give us a shared language through which to collaborate across teams and across the KPMG global network, leveraging their market knowledge and specialized insight more effectively.
At the same time, we value our diversity and the many different perspectives our people bring to the table. That is why we are focused on creating an inclusive environment where our people can flourish, both as professionals and as individuals. This includes investment in their skills and knowledge to further expand, deepen and evolve our expertise.
We at KPMG Legal have a unique approach for professional debates. We simply say leave your title at the door. For us what matters is who you are, what you believe in and what arguments you can bring forward. Age is not a merit, it is just a fact, as my famous university professor put it simple when the university wanted to cheer him at his 75 years anniversary. So, we believe in meritocracy. Female colleagues of the law firm are more than bedrock of our existence and engine of our operation.
We believe in a future where everyone feels included, no matter where they work or live, and diversity is embraced, because we believe a future of inclusion is a better future for all.
KPMG Legal’s goal is the empowerment and promotion the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status.
With the support of the company’s management and the active participation of our volunteer colleagues, we operate a Diversity working group within KPMG. The aim is to create visibility what we already have within the company, the goal is to continue mapping the diversity issues, quick reaction to what is happening around us. KPMG in Hungary is a proud member of Diversity Charter launched by the Hungarian Business Leadership Forum since 2019.
Interviews
Dr. Bálint Tóásó MSc LLM, Managing Partner, Hungary
Managing Partner, Bálint Tóásó speaks about the changing legal industry and the challenges ahead.How do you stand out from the crowd? What are the main differentiators of KPMG Legal Tóásó that sets you apart from your competition?
We believe we are genuinely different. Our approach is client-focused, our people are extraordinary and the solutions we offer are straightforward. We go both the extra mile and the last mile for our clients. We go by the solution and not the problem. People working with us are trained and educated with special focus and attention to solutions and real value to our clients. We do not offer complex solutions. We offer simple solutions to complex problems. As we used to say at KPMG: we cut through complexity.
In order to achieve this, we approach problems in a completely fresh and unconventional way. We try to answer questions that have never been raised by our clients and mitigate risks before they actually take shape. In a way, we aim at being futurists for the benefit of our clients. This, of course, requires extremely lot of effort from our people and careful designing of our work.
The legal service providers’ role as a classical administrative function is fading away quickly and is being replaced by new concepts. Lawyers must re-position their services and re-skill themselves. This has less to do with technology and digitalisation, or the coronavirus pandemic. This is rather an incremental change of our industry that we see happening right now because of changing client needs and expectations. Technology is just ramping up the pace of changes and the difference that one can make with such new approach.
Our clients seek commercially minded legal advisory services with tangible added value. In-depth legal knowledge is the base-line, absolutely needed, but definitely not enough. Solid accounting, tax and commercial understanding must be present in all instances. This is where we, as a BIG4 law firm have a competitive edge over traditional lawyers because of our unparalleled advisory and tax capabilities and colleagues.
Which practices do you foresee growing in the next 12 months? What are the drivers behind that?
GDPR is evergreen. Even if the structure and focus of our workload has changed a lot in the past years, GDPR offers even more for the future, we believe. The increasing amount of fines by authorities should keep all players focused around this topic. With the quickly growing stakes on the table, we have strong focus on GDPR litigation besides other types of GDPR work.
Despite the coronavirus pandemic, M&A is booming. Whether it will stay with us on the mid run, I am not sure, but for the time being we see rapid growth of our M&A practice and we are gearing up to the next level. We established ourselves in the VC market with a growing number of clients and deals which we keep pushing hard in the coming years as well.
We cannot oversee the impact of the epidemic on legal services, which caused turbulent times in connection with employment and labour law issues. It was key to find solutions for the fall-backs caused by the significant decrease of the economies operation. Employment is one of our key expansion territories and a topic that is never ‘out of fashion’. We believe that the workload presented by the pandemic will constantly remain with us and continue to develop in the upcoming years. Same goes for litigation and disputes. Disputes will gain more spot light as the economic effects of the pandemic will gain ground in all segments. We serve our clients with a pro-active mind-set and sometimes way beyond legal aspects with shaping negotiation strategies and dead-lock release methods.
Finally, an increasing number of our legal work is carried out with the support of smart tools and legal tech solutions. We deem ourselves as early adopters and one of the first movers in this space, frankly speaking however, the market for these services is still in its infancy. Nonetheless we regularly use these tools and solutions internally to increase efficiency and cut costs. We stay focused and have already exploited major opportunities in these fields as well. I have strong faith in legal tech and that more will come rapidly.
What are the main changes you have made during coronavirus that clients will benefit the most of?
We made it our top priority to get closer to our clients during these testing days. We did not wait to be called, but picked up the phone and called each and every client we have. We shared news, have shown confidence that they are not alone and can count on us. This was extremely appreciated by our clients during the lockdown.
We immediately started to pull together a Covid-19 information HUB for our clients where they could gain free access to the latest information in a structured and transparent way. We teamed up with advisory and tax and came up with daily digests and beyond. We offered dozens of seminars and consultations to show our commitment towards our clients and communities. We have received extremely positive feedback and support that our work is highly appreciated and we are exceptionally fast with processing new legislation and changes.
Because of all these factors, we even managed to increase our clientele during these dark days where personal contact was not an option. Gaining trust through online platforms taught us important lessons how we should further develop our skills and communication to be better.
Is technology changing the way you interact with your clients, and the services you can provide them?
We want to be frontrunners in legal tech, so we invest in these areas heavily. We use state-of-the-art technology and have our own tech developments as well. We train our mindset accordingly and are active in the legal tech and tech scene.
We are using and looking at sophisticated AI solutions, team up with real hardcore techies for legal tech projects and joint brain-storming sessions.
We are constantly monitoring new tech solutions, tools and possibilities, but we also believe that their potential ethical impact should also be considered. Therefore, we also actively participated in shaping the EU-level legislation around artificial intelligence and its possible use cases.
Are clients looking for stability and strategic direction from their law firms – where do you see the firm in 3 years’ time?
Yes, definitely, stability is a priority to our clients.
Our clients place trust in us over and over again because they value our undivided attention that they receive from us. In today’s business environment, decision makers appreciate professional advice that goes beyond pure legal ramifications. Today, they not only seek legal counsel, they are looking for cooperation with trusted advisors who take care of all their burden so that they can focus on their businesses.
Over the next few years we see ourselves as a continuously growing, multi-disciplinary legal advisory firm open for further learning and smart solutions. All these will enable us to become one of the leading law firms in Hungary and the clear choice.
Interviews
Dr. Bálint Tóásó MSc LLM, Managing Partner
Managing Partner Dr. Bálint Tóásó explains the firm approaches problems in a completely fresh and unconventional way to adapt to clients’ changing needsHow do you stand out from the crowd? What are the main differentiators of KPMG Legal Tóásó that sets you apart from your competition?
We believe we are genuinely different. Our approach is client-focused, our people are extraordinary and the solutions we offer are straightforward. We go both the extra mile and the last mile for our clients. We go by the solution and not the problem. People working with us are trained and educated with special focus and attention to solutions and real value to our clients. We do not offer complex solutions. We offer simple solutions to complex problems. As we used to say at KPMG: we cut through complexity.
In order to achieve this, we approach problems in a completely fresh and unconventional way. We try to answer questions that have never been raised by our clients and mitigate risks before they actually take shape. In a way, we aim at being futurists for the benefit of our clients. This, of course, requires extremely lot of effort from our people and careful designing of our work.
The legal service providers’ role as a classical administrative function is fading away quickly and is being replaced by new concepts. Lawyers must re-position their services and re-skill themselves. This has less to do with technology and digitalisation, or the coronavirus pandemic. This is rather an incremental change of our industry that we see happening right now because of changing client needs and expectations. Technology is just ramping up the pace of changes and the difference that one can make with such new approach.
Our clients seek commercially minded legal advisory services with tangible added value. In-depth legal knowledge is the base-line, absolutely needed, but definitely not enough. Solid accounting, tax and commercial understanding must be present in all instances. This is where we, as a BIG4 law firm have a competitive edge over traditional lawyers because of our unparalleled advisory and tax capabilities and colleagues.
Which practices do you foresee growing in the next 12 months? What are the drivers behind that?
GDPR is evergreen. Even if the structure and focus of our workload has changed a lot in the past years, GDPR offers even more for the future, we believe. The increasing amount of fines by authorities should keep all players focused around this topic. With the quickly growing stakes on the table, we have strong focus on GDPR litigation besides other types of GDPR work.
Despite the coronavirus pandemic, M&A is booming. Whether it will stay with us on the mid run, I am not sure, but for the time being we see rapid growth of our M&A practice and we are gearing up to the next level. We established ourselves in the VC market with a growing number of clients and deals which we keep pushing hard in the coming years as well.
We cannot oversee the impact of the epidemic on legal services, which caused turbulent times in connection with employment and labour law issues. It was key to find solutions for the fall-backs caused by the significant decrease of the economies operation. Employment is one of our key expansion territories and a topic that is never ‘out of fashion’. We believe that the workload presented by the pandemic will constantly remain with us and continue to develop in the upcoming years. Same goes for litigation and disputes. Disputes will gain more spot light as the economic effects of the pandemic will gain ground in all segments. We serve our clients with a pro-active mind-set and sometimes way beyond legal aspects with shaping negotiation strategies and dead-lock release methods.
Finally, an increasing number of our legal work is carried out with the support of smart tools and legal tech solutions. We deem ourselves as early adopters and one of the first movers in this space, frankly speaking however, the market for these services is still in its infancy. Nonetheless we regularly use these tools and solutions internally to increase efficiency and cut costs. We stay focused and have already exploited major opportunities in these fields as well. I have strong faith in legal tech and that more will come rapidly.
What are the main changes you have made during coronavirus that clients will benefit the most from?
We made it our top priority to get closer to our clients during these testing days. We did not wait to be called, but picked up the phone and called each and every client we have. We shared news, have shown confidence that they are not alone and can count on us. This was extremely appreciated by our clients during the lockdown.
We immediately started to pull together a Covid-19 information HUB for our clients where they could gain free access to the latest information in a structured and transparent way. We teamed up with advisory and tax and came up with daily digests and beyond. We offered dozens of seminars and consultations to show our commitment towards our clients and communities. We have received extremely positive feedback and support that our work is highly appreciated and we are exceptionally fast with processing new legislation and changes.
Because of all these factors, we even managed to increase our clientele during these dark days where personal contact was not an option. Gaining trust through online platforms taught us important lessons how we should further develop our skills and communication to be better.
Is technology changing the way you interact with your clients, and the services you can provide them?
We want to be frontrunners in legal tech, so we invest in these areas heavily. We use state-of-the-art technology and have our own tech developments as well. We train our mindset accordingly and are active in the legal tech and tech scene.
We are using and looking at sophisticated AI solutions, team up with real hardcore techies for legal tech projects and joint brain-storming sessions.
We are constantly monitoring new tech solutions, tools and possibilities, but we also believe that their potential ethical impact should also be considered. Therefore, we also actively participated in shaping the EU-level legislation around artificial intelligence and its possible use cases.
Are clients looking for stability and strategic direction from their law firms – where do you see the firm in 3 years’ time?
Yes, definitely, stability is a priority to our clients.
Our clients place trust in us over and over again because they value our undivided attention that they receive from us. In today’s business environment, decision makers appreciate professional advice that goes beyond pure legal ramifications. Today, they not only seek legal counsel, they are looking for cooperation with trusted advisors who take care of all their burden so that they can focus on their businesses.
Over the next few years we see ourselves as a continuously growing, multi-disciplinary legal advisory firm open for further learning and smart solutions. All these will enable us to become one of the leading law firms in Hungary and the clear choice.