Team size: 14

Major legal advisers: Matheson

What impact did Brexit have on the financial Industry in Ireland?

Despite the uncertainty caused by Brexit, there have been a number of opportunities for the Irish financial services sector to flourish as a consequence. The Irish funds industry, in particular, has been able to provide asset managers with solutions to a range of issues in the post-Brexit landscape.

In what ways do you see the in-house legal role evolving in your region over the next few years?

In common with other jurisdictions, the volume and complexity of legal challenges in-house legal counsel in Ireland face will only continue to rise. More reliance will be placed on technology platforms to streamline business support work, which will free up lawyers for more value-added work, and empower business colleagues to ‘self-serve’ without legal function involvement. There will be increased use of alternative legal service providers and other suppliers to handle formerly in-house executed tasks. Remote working will continue to be prevalent. It is important that the post-pandemic workplace capitalises on the opportunities afforded by remote working, while minimising drawbacks and accommodating individual needs and values.

What are the most significant cases and/or transactions that your legal team has recently been involved in?

Providing legal advice and support in relation to all aspects of Fidelity International’s global fund ranges and investment products, the product legal team has been involved in the recent expansion of the Fidelity Sustainable Family range of funds including the successful launch of new actively managed ESG fixed income and equity exchange-traded funds in Ireland. We continue to work to address the various requirements of the rapidly evolving EU regulatory framework for sustainable finance.

As we enter the next decade, what skills will a corporate legal team need to succeed in the modern in-house industry?

In-house legal counsel will need to deliver not just as risk managers, but as strategic business advisors. Key aspects supporting this will be making routine legal work more efficient to free up lawyers to perform work more valued by their stakeholders, a focus on risk anticipation and prevention and a more sophisticated approach to implementing large-scale regulatory change programmes.