TEGOS (Formerly TGS Baltic)

TEGOS (Formerly TGS Baltic)

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Latvia

Interview with…

Inese Hazenfusa,Partner, Head of Banking & Finance practice group

Inese Hazenfusa,Partner, Head of Banking & Finance practice group

What do you see as the main points that differentiate your firm from your competitors? As one of the oldest law firms in the market, we are deeply rooted in the core principles of the legal profession and the standards set by the Bar. We place particular emphasis on professional ethics, independence, and a clear understanding of the lawyer’s specific role within society. These principles are not purely theoretical for us; our internal culture is based on these core principles of the legal profession. It is our people who differentiate us from other law firms. We rely on, and deeply respect, a strong team of skilled and committed legal professionals who share our values and standards. We place great importance on teamwork, collaboration, and mutual trust, recognising that the best outcomes for clients are achieved through collective expertise rather than individual effort alone. TEGOS Latvia stands out in the market thanks to its exceptional concentration of attorneys-at-law and highly specialised experts, delivering decades of experience and excellence in client service. At the same time, we recognise that clients today expect more than formal legal advice. We therefore adopt a strong commercial mindset and invest time in understanding our clients’ businesses and the industries in which they operate. This enables us to provide advice that is not merely theoretical but practical, actionable, and directly relevant to our clients’ objectives. Guided by our core value Partners for Progress, we act not only as legal advisers, but also as trusted partners, supporting clients in navigating complex legal matters while helping them make sustainable business decisions. Another core value of our firm is Candid Communication. We believe that clear, open, and honest dialogue is essential to building trust and delivering real value to clients. This means providing clients with straightforward, well‑reasoned advice — including addressing risks, uncertainties, and alternative courses of action. By communicating candidly, we enable clients to make informed decisions with confidence.   Which practices do you see growing in the next 12 months? What are the drivers behind that? In the next year, I see growth across several practice areas, driven by both policy decisions and market demand: Latvia’s financial sector is entering a new phase of development following a highly positive Moneyval assessment and the efforts of the Bank of Latvia to create a welcoming environment for financial services market players. With restored international credibility and a proactive licensing environment, I expect continued growth in fintech, crypto services, and general regulatory advisory work. Given Latvia’s strategic position as a NATO member neighbouring Russia and Belarus, the current geopolitical climate has significantly elevated national security priorities. Defence spending is set to increase, which will drive demand for legal support in procurement, licensing, export controls, and strategic partnerships, particularly as Latvia strengthens its domestic defence manufacturing and deepens cooperation with allied partners. Latvia is among the EU leaders in renewable energy use, with major wind and solar projects underway. Achieving energy independence has become a national priority, especially in light of the geopolitical need to reduce reliance on Russian energy supplies. This shift is driving significant investment in green energy infrastructure, including offshore wind, solar parks, and hydrogen technologies. As a result, I expect increased demand for legal services in energy regulation, project finance, permitting, and cross-border energy cooperation. As a natural consequence, particularly in the defence sector, where innovation is essential trademark and patent activity is rising sharply, reflecting a more innovation-driven economy. IP protection, commercialisation strategies, and R&D collaboration agreements will become increasingly relevant. I would also highlight the growing demand for legal services in data protection, technology transactions, and AI-related advisory work, as digital transformation continues to accelerate across sectors. These trends reflect Latvia’s broader shift toward a more secure, innovative, and export-oriented economy and they align closely with the areas where we are already investing and expanding our capabilities.   What’s the main change you’ve made in the firm that will benefit clients? Regionally, it has become increasingly important to position us as a truly pan-Baltic law firm. Our clients - whether local businesses or international investors - increasingly view the Baltics as a single, integrated market rather than three separate countries. Legal services are often required simultaneously across Latvia, Lithuania, and Estonia, and we are committed to delivering those services in a way that is efficient, coordinated, and forward-thinking. By aligning our teams, processes, and communication across borders, we ensure that clients receive streamlined support and a single point of contact. We have successfully implemented our shared Baltic‑wide values framework, which now guides both our internal culture and our approach to client work. This ensures that every interaction with clients is conducted in a coherent, unified “language” across the region, enabling seamless cross-border collaboration. In parallel, we are actively investing in legal technology and monitoring developments in AI to ensure our services remain modern, efficient. From document automation and smart contract tools to AI-assisted legal research, we are integrating technology that enhances efficiency and speeds up delivery.  While we continue to invest in technology to enhance efficiency and service delivery, we remain equally focused on preserving the personal, human connection that defines our client relationships.   Is technology changing the way you interact with your clients, and the services you can provide them? Yes - we use a range of technological tools that allow us to work more efficiently and respond more quickly to clients when needed. Digital communication platforms streamline interactions, facilitate secure document sharing, and ensure timely access to our team, regardless of location. Tools like collaborative workspaces, e-signatures, and automated workflows have also helped us reduce turnaround times and enhance transparency throughout the legal process. At the same time, we are exploring how emerging technologies - including AI-assisted research and legal tech platforms - can support more strategic, data-driven advice. However, personal interaction remains irreplaceable, particularly where clients face uncertainty and high‑impact decisions. Technology enhances relationships, but it does not replace the human connection that is essential to legal work. Trust, judgment, and empathy are at the heart of what we do, and no digital tool can substitute the value of a thoughtful conversation.   Can you give us a practical example of how you have helped a client add value to their business? Many new businesses are not yet fully equipped to navigate the complexities of the commercial environment. With more than 30 years of experience, our firm is uniquely positioned to help clients turn their ideas into viable, scalable commercial solutions. For example, we advised a manufacturer in Valmiera on the development of an innovative product not previously seen on the market - guiding them through the legal, regulatory, and commercial aspects of bringing a novel concept to life. We also played a key role in preserving the legacy of Vilhelms Purvītis, one of Latvia’s most celebrated artists. Our firm is advising Purvītis Fonds in their efforts to bring Purvītis’ paintings back to Latvia. . Beyond the legal dimension, this initiative contributes to national identity and cultural continuity - ensuring that works of art return home and are accessible to the Latvian public. Our team advised on crossborder regulatory questions around the export/return of art and antiques and preparcross-bordercumentation to formalise cooperation with a German museum - ensuring compliance with applicable law and cultural heritage requirements. It’s a powerful example of how legal expertise can support not only business goals but also long-term societal value. In the infrastructure and telecommunications sector, we advised on a landmark transaction involving Tele2 AB and Global Communications Infrastructure LLC (GCI), backed by Manulife Investment Management, which resulted in the establishment of the first pan-Baltic tower company. The deal involved the carve-out of Tele2’s tower assets into a jointly owned entity managing approximately 2,700 sites across Estonia, Latvia, and Lithuania. Our role included cross-border vendor due diligence and legal support covering regulatory, real estate, corporate, and tax matters, contributing to a transaction that sets a new benchmark for telecom infrastructure development in the Baltics.   Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time? Clients increasingly expect law firms to act as partners in solving challenges rather than creating barriers. Our role is to guide them through unfamiliar territory and support their long‑term strategic goals, just as said above - act like Partners for Progress. In the coming years, we will continue investing in technology to offer the most efficient and responsive legal services. We see digital transformation not as a trend, but as a tool to enhance the quality and speed, while preserving the personal, trusted relationships with our clients. As technology reduces routine work, professional judgment becomes the key differentiator – the ability to assess risk, prioritise issues, and guide clients through complex decisions. At the same time, we are deeply committed to building a firm that reflects the values of our clients and our people. We will strengthen our focus on social responsibility, inclusion, and the wellbeing of our team because we believe that a healthy, diverse, and engaged workplace is essential to delivering excellent legal advice. We also see the next generation of legal professionals as a vital part of our future. We are actively integrating younger colleagues into the profession, learning from them as they learn from us and creating an environment where they can grow, contribute, and lead. Our vision is to build a firm that is not only resilient and future-ready, but also human, collaborative, and grounded in the values that have guided us for over three decades. In three years’ time, we aim to be even more connected across the Baltics, even more trusted by our clients, and even more committed to shaping the legal profession in a way that reflects the world we want to live in.
Content supplied by TEGOS (Formerly TGS Baltic)