José María Alonso, managing partner of Baker & McKenzie´s Madrid office, says that, while clients expect more involvement from senior lawyers on deals, fees have not grown in accordance with these expectations.

Clifford Chance counsel Juan Calvente says employment lawyers now need to give more strategic advice and explain to clients how courts are interpreting new employment legislation.

Twenty-first century lawyers now need to understand that law firms must be run as businesses and that legal services are provided on a global scale, according to Manuel Martín, managing partner of Gómez-Acebo & Pombo

<p>Tax lawyers must be sensitive to clients' businesses, assist them in managing risks, and help them understand the rapidly changing tax environment, explains Brian Leonard, partner at Deloitte Abogados in Madrid.</p>

Despite volatility in the market during the last 12 months, law firms have successfully managed to expand and increase their revenue, says Roca Junyent managing partner, Joan Roca.

As clients grow more sophisticated then so do their expectations in terms of what they want from their legal advisers, says Sharon Izaguirre, corporate and M&A partner at Deloitte in Madrid.

A group of ten Bank of Valletta employees from across the Bank's Investment Centres and Branches have recently returned from a short trip to Madrid...

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However, though most general counsel are passing less work to external lawyers, the picture when it comes to in-house legal department budgets is mixed, the survey showed.

Spanish mid-market private equity firms also seeking to complete deals, as well as funds using convertible bonds, warrants and 'unitranche' loans

Portugal attracting lion’s share of Iberian investment, but Wanda deals show Spain is catching the eye, with law firms finalising their strategies in order to capitalise on trend.

Law firms' inability to innovate is due to their "short-termism" – partners have little incentive to build-up the long-term value of their firm as a business

Of those thinking of leaving their in-house role, 42 per cent said it was because they would have "more opportunities for career progression in private practice".

A relationship-only approach is increasingly uncommon among clients and is being replaced by a professional, business-driven method of sourcing legal services, says Silvia Hodges Silverstein.

Good lawyers should be able to help their clients solve problems and provide practical advice that can be easily implemented, says Hiscox's Mónica Calonje Conde

Having a lawyer who adds value, responds quickly and who offers a high-quality service at a good price, are the most important considerations, says Exterion's Juan José Hijas Galvez.

Smaller firms follow the major players in reporting revenue increases partly due to rise in compliance and data protection work as well as innovative pricing and greater use of project managers

Law firms should help their professionals to focus on common goals, create spaces for them to collaborate and incentivise lateral thinking, says Fernando Vives

Biggest Spanish law firm by revenue has announced it will use robots to speed up analysis of legal documentation, while Uría Menéndez confirms it is evaluating the use of AI for speeding up processes

Carro cites examples such as IPO processes, complex technical litigation and M&A transactions involving due diligence and anti-trust considerations.