Interview with: Pedro Rebelo de Sousa, Managing Partner

What do you see as the main points that differentiate SRS Legal from your competitors?

The firm decided to conduct an internal audit of its core values and ambitions for the future, culminating in the decision to rebrand to better showcase these same values and ambitions. Based on lengthy discussions and idea exchanges within the firm, trying to identify our differentiating factor, one word stood out: People – clients, colleagues, and the community. This is what truly sets SRS Legal apart – its people.

We believe in focusing on our employees and their needs, including having a job with meaning, being recognized for performance, having a good working environment, feeling good physically and emotionally as well as having the time and flexibility meet personal needs.

The firm also understands that attracting talent is not just about attracting the best students. It means looking for people who identify with the values of SRS Legal, its work model and its culture. What SRS does differently, is that is committed to being close to employees, seeking not to “retain” employees, but rather to continuously provide the conditions where employees choose to remain there and build their career.

Which practices do you see growing in the next 12 months? What are the drivers behind that?

While Portugal has, for the most part, recovered from the impact of the Covid pandemic, the country is facing inflation concerns following the war in Ukraine, where the energy and food and beverage sectors were most affected, and the repercussions from the pandemic, which had various implications for several sectors.

In line with Portugal’s Recovery and Resilience Plan, we expect that the country will see mild growth in 2023, with strong investment to continue in private equity, real estate, renewable energy, technology, transportation and other longer-term projects, meaning that we need to work cohesively to find effective, sustainable, measurable/tangible and lasting solutions for our clients.

SRS Legal has specialized teams and partners dedicated to each of these practice areas, who have a wealth of experience and know-how and who are planning for the future. The firm is also committed to continue to specialize in key areas of law, developing expertise in specific sectors and geographies, so that clients know they can rely on real knowledge. We continue to monitor and track market trends and updates, closely monitoring changes, anticipating challenges and seizing opportunities that may arise.

The key idea for 2023 is to look for ways to deal with the acceleration we have recently experienced in various domains and to find solutions. In 2022 we witnessed the fall of established paradigms and premises, such as geopolitical and geo-economic imbalances, the war spiral and democratic dissolution through digital alienation. I believe that this acceleration must be faced with innovative ideas for the future, which must take the risk of permanent disquiet and the deconstruction of models that have allowed for accommodation without restlessness. Simultaneously, we must prepare for accelerations and disruptions in issues such as demography, energy, climate change, wealth distribution and public health without losing focus on what is really relevant, People.

In short, to face acceleration in all domains in 2023, we need to continue to innovate, willing to risk temporary discomfort to deconstruct outdated models and find lasting solutions based on the assumption of the proximity that between economies, peoples and nations. This requires hard work, collaboration and compromises between opposing factions, but it can be the key to lead us to a more prosperous and sustainable future.

What’s the main change you’ve made in the firm that will benefit clients?

In the legal race to reduce costs while maintaining the quality of the services provided, SRS Legal went about rethinking its business model, in favour of adopting new strategies and ways of organising work. This led the firm to highlight the need to provide more efficient and personalized services, in an environment where clients are increasingly more demanding and well-informed. In addition, the complex regulatory and legal landscape in the country has meant that we are now focused on investing in resources and specialisations so that we can offer our clients current, comprehensive and integrated legal solutions. We also have strategic partnerships with firms, companies and institutions that can add value to the services we provide, while expanding our network of relationships.

Is technology changing the way you interact with your clients, and the services you can provide them?

SRS knows that some of the main challenges for clients in Portugal are related to technology. They include the constant and progressive investment in technology; the chance for more consolidation in the sector; and the lack of clear regulations for the practice of digital law. As such, the firm took the decision to strengthen its investment in technology and innovation, adopting new ways of working that improve the efficiency, quality and personalisation of the services provided. In addition, the firm has a client-focused approach to doing business, providing tailor-made services for specific client needs, in a relationship that entails constant communication.

Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?

2023 is shrouded in uncertainty. There is still no end in sight to the war in Ukraine, the key rates of the main central banks continue to rise, but with no proven relevant impact on lowering inflation. The country may experience a period of probable stagflation, which will bring unpleasantness in the short and medium term.

Historically, in scenarios of uncertainty, professional services providers – including law firms – record increased volumes of work. Lawyers do not live from conflict alone, but it promotes agreements and actions on behalf of our clients, who are looking for both stability (economically and otherwise) as well as strategic guidance from their counsel. We may therefore find that 2023 will be another year of professional growth.

In the next three years, we expect to come out of the financial and inflation crisis stronger, and with a more stable base of both national and international clients, who know they can rely on us in times of need. As international clients are the key driver for SRS, we are certain that in 2026 we will have concretised our position in the market as a leader in the provision of outstanding legal services.