IBERIAN LAWYER The future is here: managing legal ... future is here: managing legal services within a changing world IBERIAN LAWYER e Dsi cove r y& nI fo r m atoi nM a n a g e m e

The future is here: managing legal services within a changing world

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Programme

Pestana Palace HotelLisbonMarch 22nd, 2011

International Legal Summit 2011

09.00 Registration and networking breakfast

09.30 Conference Opening Peter Cornell, Conference Chairman

Law at a crossroads: the challenges ahead for the legal profession?

09.45 – 11.00 Session 1

The Financial Crisis: what has been the impact on legal services?Keynote speech – Neville Eisenberg, Managing Partner, Berwin Leighton Paisner

How has the international legal market been affected by -the financial crisis? What has been the response from law firms so far? -What currently matters most to clients and how are their -approaches and priorities changing?

Panel debate:Moray McLaren, Director, Iberian Lawyer (moderator)• Antonio Alves, General Counsel, • Portucel Soporcel GroupManuel Martín, Managing Partner, • Gómez-Acebo & PomboPedro Pérez-Llorca, Managing Partner, Pérez-Llorca• Manuel Santos Vitor, Co-Managing Partner, PLMJ• Francisco Sá Carneiro, Founding Partner, • Campos Ferreira, Sá Carneiro & Associados

Questions:Has the main impact of the crisis been the same in 1. Iberia as across Europe? What are the similarities and differences?Are the needs of clients in the region changing as in 2. other jurisdictions?What therefore are the main threats and opportunities for 3. Iberia’s law firms?Where will this all end? What changes are we expecting 4. over the next few years?

11.30 – 11.45 Networking coffee break

11.45 – 13.00 Session 2

The End of Lawyers? Rethinking the Nature of Legal ServicesKeynote Speech – Professor Richard Susskind

What elements of lawyers´ current workload could be -undertaken more quickly, more cheaply, more efficiently, or to a higher quality using different and new methods of working? How will law firms be affected by the pull towards the -commoditisation of legal services, and by new and

disruptive legal technologies? Which work by lawyers will be eroded or even -displaced?What new and quite different legal jobs are emerging? -

Panel debate:Pedro Cardigos, President of the General Meeting of • ASAP, Managing Partner, CARDIGOS (moderator)João Vieira de Almeida, Managing Partner, • Vieira de AlmeidaRui Mayer, General Counsel, GALP• João Soares da Silva, Co-President and Co-Managing • Partner, Morais Leitão Galvão Teles Soares da SilvaJose María Segovia, Senior Partner, Uría Menéndez•

Questions:Do people agree with Professor Susskind’s perspective 1. of the future? Are Spanish and Portuguese clients and law firms experiencing the pressures he has outlined (or are we saying that Spain and Portugal are different)?If Professor Susskind’s vision is correct – what impact 2. will this have?What are the opportunities and challenges that this will 3. bring?What should in-house lawyers be doing to prepare for 4. this future?What should law firms be doing to prepare for this?5.

13.00 – 14.30 Innovative Lawyer´s Gala Lunch

The founder of the Financial Times Innovative Lawyer´s Report, ReenaSenGupta, will present her personal reflections and conclusions from the 2010 award results and recognise the achievements of the in-house lawyers and law firms across Spain and Portugal.

What is innovation within the legal context? -Why do lawyers need to innovate? -Who are the most innovative Spanish and Portuguese -lawyers?

14.30 – 15.45

Workshop 1Compliance and corporate governance: a new world of regulation?Following the financial crisis, businesses are expecting a new wave of regulation, with many in-house lawyers saying

Peter Cornell Peter Cornell is a Managing Director at private equity house Terra Firma where he sits on the General Partners’ boards and chairs the Advisory Boards. Prior to that he was the global Managing Partner of Clifford Chance. In his career, Peter managed offices in Asia, the UK, the US and Spain. He was elected “Lawyer of the Year” by

UK publication Legal Business in 2007. He has been a visiting lecturer on the MBA program at Harvard Business School. Peter is a member of the Iberian Lawyer Advisory Council.

Neville Eisenberg Neville Eisenberg is the Managing Partner of City of London law firm Berwin Leighton Paisner. Under his leadership, Berwin Leighton Paisner has developed a number of innovative new services for their corporate clients, such as Lawyers on Demand, a placement service providing clients with short or longer term interim

lawyers plus their recent project with Thames Water whereby they provide the full in-house legal service.

Professor Richard Susskind Professor Susskind has specialised in legal technology for 25 years. He is an independent adviser to major professional firms and to national governments. He has written and edited numerous books, including Expert Systems in Law, The Future of Law, Transforming the Law, The Susskind Interviews: Legal Experts in Changing Times, The

End of Lawyers? Rethinking the Nature of Legal Services and has written over 100 columns for The Times. He has advised on numerous UK government inquiries and, since 1998, has been IT Adviser to the Lord Chief Justice of England. He holds law professorships at Gresham College in London and the University of Strathclyde in Glasgow.

Reena SenGupta Reena SenGupta is an expert analyst of the legal profession. With a fifteen-year history of ground-breaking research and reports, many of her projects have begun to change the commercial legal profession. She founded RSG Consulting in 2001 to give research, writing and consulting services to the legal profession. She is a regular

contributor of feature articles to the Financial Times and founded their annual Innovative Lawyers Report. Previously she was editor of the Chambers guides to law firms and devised the research methodology that currently underpins their research.

that compliance and corporate governance issues will be their major headache in the years ahead. This workshop will examine the changes and discuss how in-house lawyers can best manage the response of their business.

Panel:Pedro Rebelo de Sousa, Manging Partner, Sociedade • Rebelo de Sousa, Portuguese Institute for Corporate Governance (moderator) Francisco Enrique González-Díaz, Partner, Cleary • Gottlieb, Steen & Hamilton, BrusselsJohn Ericson, Partner, Simpson Thacher & Bartlett, • New YorkSalomé Cisnal de Ugarte, Of Counsel, Mayer Brown, • Brussels Andrea Gomes da Silva, Partner, Freshfields, London• José Fazenda Martins, Head of Markets and Issuers • Supervision, Portugal’s Securities Regulator (CMVM) Luis Brito Goes, General Counsel, Jose de Melo•

Questions:To what extent are we experiencing or expecting a new 1. wave of regulation as an outcome of the financial crisis?If so, where will it come from (Europe, the US or domestic 2. regulators)?What can we learn from the experience of regulatory 3. enforcement in other areas (including antitrust)?What challenges will this bring for businesses and how 4. can in-house lawyers best manage this?

Workshop 2 The knowledge challenge: determining the price of legal services?One of the most controversial issues within professional services as a whole, and law firms in particular, is how to charge clients for the services they receive. Over the years, professionals have used different frameworks to explain and justify their practices.

This session will examine the advantages and disadvantages of different pricing models and their interplay with the traditional law firm model. What are the main tensions of current systems and options going forward?

Panel:Kevin Doolan, Partner, Head of Client Relations, • Eversheds (moderator) Paul Dan, Senior Regional Counsel, France/Iberia, Tyco • International Stephen Denyer, Global Markets Partner, Allen & Overy• Jochi Jiménez, General Counsel and Head of • Compliance, ANV Joan Roca, Managing Partner, Roca Junyent•

Questions:What are the experiences of clients regarding the pricing 1. of services by external law firms? Are we seeing a move away from the billable hour?What services are more – or less – price sensitive?2. How can law firms better understand and communicate 3. the value they give?How can in-house lawyers better manage their external 4. legal cost?How can law firms better manage (and communicate) 5. their pricing with clients?Can clients and law firms work more closely “in 6. partnership” and what alternative pricing and relationship models work best?

15.45 – 16.15 Networking coffee break

16.15 – 17.30

Workshop 3The new generation of young lawyers: does the downturn require a different approach?With the economic downturn, the legal market has become more demanding and less open for young lawyers. Excellent academic marks are not now enough to find work and succeed in a more competitive market.

At the same time, research suggests that young lawyers

value a work-life balance and are less motivated by “up-or-out” and the partnership “carrot”. Others suggest that the new generation provide the opportunity to implement new working practices, utilising modern technologies and ways of working that will inevitably revolutionise legal practice.

Panel:Filipa Mendes Pinto, Founding Partner, FIND • (moderator)Miguel Teixeira de Abreu, Founding Partner, • Abreu AdvogadosJorge Bleck, Senior Partner - Lisbon, Linklaters• Diogo Perestrelo, Co-Managing Partner, • Cuatrecasas, Gonçalves PereiraSilvia Madrid, Head of Legal – Spain & Portugal, • Royal Bank of Scotland

Education1. What is the new requirement of young lawyers in the

downturn and where will they gain the knowledge and skills the market demands – within law schools?

2. If so, are the Bologna reforms by themselves enough to provide the lawyers required or do we need to rethink our whole approach to legal education and learning?

3. In which ways should we be expecting a new partnership between universities and legal departments and law firms to develop the future generation of lawyers?

Life as a lawyer

Are young lawyers “different” to past generations in the 4. way they approach their career? Are they motivated differently? Are they pushing for a better work-life balance? Do they want to be partners?Is the “up-or-out” model still valid (or even possible 5. within a shrinking market)? Are separate partner and non-partner career paths 6. possible or even desirable? Without the “carrot” of partnership, what will be the 7. “glue” holding law firms together?

Workshop 4The lawyer of the 21st century: the client´s revolution?Reena SenGupta will present and discuss the results of the recent survey of the legal profession her company, RSG Consulting, conducted on behalf of law firm Eversheds which highlights a swing in the traditional balance of power between major law firms and general counsel. The report shows that the legal landscape has changed more quickly than anyone could have imagined. Even before the financial crisis, it was clear that businesses were unhappy with ever increasing fees, wasteful practices and an unwillingness to change. The session will examine how the difficult economic times have clearly polarised these issues. Has the time now arrived for a “revolution” in the delivery of legal services?

Panel:Reena Sengupta, Founder and Principal, • RSG Consulting (moderator)Frank Boening, Vice President EMEA, Workshare • Michael Hales, Chair International Committee and • European Group, NabarroManuela Vasconcelos Simões, Head of Legal - Portugal, • Deutsche BankKevin Doolan, Partner, Head of Client Relations, • Eversheds

Questions:Are we experiencing a “clients’ revolution”? How are the 1. needs and priorities of in-house lawyers changing?Can we gain efficiency through technology?2. What are the current major legal concerns and 3. challenges of business?Is cost or quality more important?4.

17.30 – 17.45 Conference Closing Peter Cornell, Conference Chairman

The day will close with panel members and participants sharing their personal conclusions from the sessions: what impact is the current economic uncertainty having on their organisations and what will they be doing differently in the future.

Supporting organisations The Association of Portuguese Law Firms (ASAP) is a unique and independent organisation created to represent the interests of Portuguese law firms. Since its establishment a decade ago, ASAP has coordinated a number of ground-breaking workshops and conferences investigating the status, role and development of law firms in Portugal.For further information see www.asap.pt

RSG Consulting is the architect and research partner to the FT Innovative Lawyers Report which has become one of the top legal rankings in both the USA and Europe and the accompanying awards are widely regarded as the best researched in the market. It presents a unique analysis of the legal industry and is the only ranking of lawyers by innovation. RSG Consulting is a UK-based legal strategy consultancy, which has been carrying out research projects for the top London law firms for nearly a decade. For further information see www.ft.com and www.rsgconsulting.com

Antonio Alves began his career with José Alves Pereira e Associados. He was appointed as Head of Legal at Jerónimo Martins, Portugal’s largest retailer, in 1999. He has recently moved to the Portucel Soporcel Group where he is General Counsel. Antonio is a past winner of Iberian Lawyer’s 40 under Forty Awards.

Jorge Bleck is the Senior Partner of Linklaters’ Lisbon office and heads its corporate team. From 1993 until 2001 he was a partner and co-founder in the law firm Morais Leitão J. Galvão Teles & Associates.

Luís Brito Goes is General Counsel at one of Portugal’s largest and most high-profile family holding companies, José de Mello. The group has total assets of around €3.6bn, including significant investments within Spain. Luis was formerly with the law firm Vieira de Almeida.

Pedro Cardigos started his career as an Associate with Baker & McKenzie. He was later a Senior Associate at Stroeter Trench Veirano e Advogados before co-founding Abreu Cardigos in 1993. He is now Principal at CARDIGOS and is the President of the General Meeting of ASAP.

Dr. Salomé Cisnal de Ugarte practices European law & policy in the Brussels office of Mayer Brown. Before joining Mayer Brown, she was Director of European & Regulatory Affairs with Whirlpool Europe in Brussels. Salomé is an Adjunct Professor of International Trade at IE Law School and a Fellow of their Center for European Studies.

Paul Dan worked as a Legal Counsel for SFR and computer giant Dell within France. He is based in Paris and in March 2007, became the Senior Regional Counsel for Tyco International where he is responsible for the legal function in France and Iberia.

Stephen Denyer is Allen & Overy’s Global Markets Partner with overall responsibility for leading and co-ordinating their relationships with associated firms and those in new markets with whom they may wish to establish formal ties. He is also Vice Chair of the Law Firm Management Committee of the International Bar Association (IBA).

Kevin Doolan is a Partner at Eversheds and their former Head of Retail Financial Services. He is currently Head of Client Relations and the member of the firm’s Management Team with particular responsibility for some of the firm’s largest clients and the creation of major new relationships.

John Ericson is a Partner at Simpson Thacher & Bartlett in New York, where he is a member of the Firm’s Corporate Department. Fluent in Portuguese, his work has often involved Brazilian and Portuguese issuers.

José Fazenda Martins is Head of Markets and Issuers Supervision, Portugal’s Securities Regulator (CMVM).

Andrea Gomes da Silva is a Partner within Freshfield’s antitrust, competition and trade (ACT) group, based in London. She advises on all aspects of UK and EU competition law, with particular experience in the consumer goods, insurance and defence sectors.

Francisco Enrique González-Díaz joined Cleary Gottlieb Steen & Hamilton in October 2003 as a Partner. His practice focuses on European and Spanish competition law. Prior to joining the firm, he headed one of the enforcement units of the European Commission’s Merger Task Force and led the European Commission in its review of a number of large and complex cases in a wide array of market sectors. He also served as a member of the European Commission’s Legal Service.

Michael Hales has been a Partner in the Commercial Dispute Resolution team at Nabarro since 1996. He is also Chair of the firm’s International Committee and European Group as well as a regular speaker at IBA conferences. Michael is a solicitor advocate with full rights of audience in the civil courts.

Jochi Jiménez started his career as a tax lawyer at Cuatrecasas Gonçalves Pereira, and worked as a Foreign Tax Associate at Cravath Swaine & Moore in New York before becoming General Counsel with insurers HCC Global Financial Products in 2003. He is now General Counsel and Compliance Officer at AVM. He is a past winner of Iberian Lawyer’s 40 under Forty Awards.

Silvia Madrid started her career with Banco Santander’s legal team, before joining White & Case as an Associate. She studied at the Fordham University School of Law in New York and is a past winner of Iberian Lawyer’s 40 under Forty Awards. Since 2004, she has been the Head of Legal for Spain and Portugal at The Royal Bank of Scotland.

Manuel Martín joined Gómez-Acebo & Pombo in 1981 and became a Partner in 1990. He has served as the firm’s Managing Partner since 2001. In 2010 he was named “European Managing Partner of the Year” at both the British Legal Awards and The Lawyer European Awards.

Rui Mayer started his working life at Partex-CPS, an Engineering and Project Consulting company, before joining Neste Oy, of Finland, managing its offices first in Lisbon and then in Algiers. He is now Company Secretary and General Counsel at GALP Energia.

Filipa Mendes Pinto is a Founding Partner of FIND, launched in 2005 as the first company in Portugal exclusively dedicated to legal recruitment. She started her legal career in 1991 at the then J. Galvão Teles Bleck Pinto Leite & Associados, that in 1993 merged into current Morais Leitão Galvão Teles Soares da Silva & Associado. In 1995, she became Head of Legal at PGA – Portugália Airlines where she stayed until 2004.

Diogo Perestrelo has been the Co-Managing Partner of Cuatrecasas Gonçalves Pereira & Associados in Portugal since January 2011. Having joined the firm in 1999, his main practice areas are M&A, Project Finance and Private Equity. Diogo is a past winner of Iberian Lawyer’s 40 under Forty Awards.

Pedro Pérez-Llorca has been a lawyer since 1993, working first in Uría Menéndez and subsequently in Pérez-Llorca, where he is currently the Managing Partner. His experience focuses on the field of M&A. His firm received the Chambers and Partners Award as the Best Iberian Law Firm in 2006.

Pedro Rebelo de Sousa is the Managing Partner of SRS Advogados. Prior to joining the office, Pedro was Vice-President of the International Corporate Finance Division of Citibank N.A. in New York. He is the founder of the Portuguese Institute for Corporate Governance.

Maria João Ricou has been a Partner at Cuatrecasas Gonçalves Pereira & Associados since 1990. In January 2011, she was appointed Co-Managing Partner of the firm’s Portuguese practice.

Joan Roca is the Managing Partner of Roca Junyent. He studied at Yale University and also serves as Board Secretary for several companies and financial institutions, including Spanair. He is a former Iberian Lawyer 40 under Forty winner.

Francisco Sá Carneiro is Founding Partner of Campos Ferreira, Sá Carneiro & Associados. His work focuses on M&A, capital markets and project finance and he has advised on a number of Portugal’s major transactions.

Jose María Segovia is the Senior Partner of Uría Menéndez. He was previously Managing Partner of the firm, together with Luis de Carlos, for five years. He joined the firm in 1980 and became a partner in 1988.

João Soares da Silva is Co-President and Co-Managing Partner of Morais Leitão Galvão Teles Soares da Silva. He is also Founding Member and Director of the Institute of Banking Law.

Manuel Santos Vítor is Co-Managing Partner of PLMJ where he leads their corporate team. He has special expertise within energy and natural resources as well as foreign investment and international contracts.

Manuela Vasconcelos Simões is the Head of Legal in Portugal for Deutsche Bank.

Miguel Teixeira de Abreu was co-founder of Abreu Advogados in 1993 and was the Managing Partner 2007-2011. He is a Professor on the International Taxation program at the Portuguese Catholic University which has been co-sponsored by the firm since 2008.

João Vieira de Almeida joined Vieira de Almeida & Associados in 1985 and is currently Managing Partner and one of the partners in charge of the Corporate Finance and M&A practice group. He has been involved in several major transactions, in Portugal and abroad, particularly in Brazil, with a focus on the structuring and negotiation of joint ventures and acquisitions in various industries.

Michael J. Willisch is a partner in Davis Polk & Wardwell’s Corporate Department, a member of the Spain and Latin America Practice Group and the Head of the Madrid office. He has advised on many major M&A transactions and most of the initial public offerings completed in Spain since 2004.

Panel members