Managing partners in Madrid say that, given the revival
in the Spanish economy, firms have to take this opportunity to
reinvent the way they do business.
Many lawyers are convinced that the crisis is over but it would
be wrong to say they are unanimous in this view. Yes, an increase
in M&A and capital markets is fuelling optimism but there are a
still few voices sounding caution and warning that there could
still be some troubled times ahead. However, the overall feeling is
one of optimism. Yet challenges remain – the younger
generation of lawyers are creating headaches for managing partners
in Madrid. Some senior lawyers say associates are less versatile
than they used to be as they tend to specialise too soon in their
learning and lack the training to be an all-rounder. Other managing
partners remark that associates are generally less motivated and
question whether the legal profession still has the allure it had
in the past.
