the strategy of a global professional services organization · the strategy of a global...

The Strategy of a Global Professional Services Organization

- How can Multidisciplinary

Partnerships Influence the Future

Business of Law Firms

WSG 2016 European Regional Meeting – 29 April 2016

Conte

nts

01A global professional services firm

02

A case on “local going global”

04Danish law firms – outside-in

perspective

WSG 2016 European Regional Meeting

03What is EY Law

The Big 4 global networks – “A franchise”

Big 4

Services co.

Big 4

Brand/governance

(cooperative)

Member Firms (Economic Interest)

UK USADK S ETC.

Non-

operating

Operating

Export Export Export Export

Import Import Import Import

Member Firm

Agreement

(Territory, Brand,

Knowledge)

Franchise

Fee

Services

Agreement

(IT, back

office, etc.)

Fee for

Services

(Cost plus

model)

VALUE DRIVERS


Globalisation, new client needs- Reasons for KPMG Denmark joining EY Global


Globally

EU harmonization• EU legislation

• EU/global standards

Scale of competences• Regional centers of excellence

(”McKinsey model”)

• Offshoring of resources

(Poland/Romania/India)

Scale of back office• Shared service/off shoring/out

sourcing

• Globally integrated systems

Client globalization• Global teams/decisions

• Globally controlled network

Nationally

EU harmonization• National audit legislation

• National standards for supervision

Scale of competences• National competence

• National resourcing

Scale of back office• National back office

• National applications/systems

Client globalization• National teams/decisions

• National focus/loose ”franchise”

At present, EY Global is the only globally controlled network

The Why/Why now

► Strategic analysis/business case

► KPMG International loosing ground, weak structure, low growth

► EY stronger global network/strong Nordic Region + more supportive to

local firms

► KPMG Denmark + EY Denmark

► Increased market share

► Better scale in service lines

► Significant back office synergies

► EU regulation forces churn of 30% of revenue from now to 2023

► Only limited carve out issues (due to lack of integration in IT systems,

balance in inbound/outbound work)


What is EY Law


Combining global reach with local knowledge


Legal Services 71 countries | 1600 legal professionals

Status March 2016

A snapshot of EY’s legal services


Multi-

disciplinary,

sector focused

and integrated

legal services

= EY

Core Services

► Corporate/Commercial

► Labor & Employment

► M&A/Transactions

► Financial Services

Industry Experience

Automotive | Banking & Capital |

Government & Public Sector | Life

Sciences | Mining & Metals | Oil & Gas

| Power & Utilities | Private Equity |

Real Estate | Technology |

Telecommunications

Specialized practice groups

Insolvency & Restructuring |

IP/IT & Data Privacy | Real Estate |

Public | Distribution & Franchise| State Aid &

Competition

A global reach

With a presence in over 70

jurisdictions across the globe, we are

able to provide our clients with

multijurisdictional reviews and advice.

Core legal services we offer to our clients


Corporate/

Commercial

► Company

► Commercial

► Shareholders’ Controversy

► Corporate Governance

Labor &

Employment

► HR legal advisory &

compliance assessment

► Mergers & acquisitions &

business transformations

► Corporate restructuring &

Reductions in Force

► Compensation & benefits

► Social security

► Labor & employment

regulatory

► Employee and data privacy

► Dispute resolution

M&A/

Transactions

► Antitrust clearance

► Buy and sell side legal

advisory

► Buy and sell side legal due

diligence

► Buy and sell side

legal structuring

► Post- acquisition integration

Financial

Services

► Banking

► Asset Management

► Insurance

► Regulatory & Compliance

► Equity offerings

in capital markets

► Corporate Finance

Specialized practice groups


IP/IT

► Intellectual property

► Media/Entertainment

► IP/IT transactional

work and E-commerce

► Data Protection and

Privacy

Public

► Incentives/ Subsidies

► Building/ Planning Law

► Public procurement

► Environmental Law

► Community Law

► Energy Law

► Public compliance

► Budget Law

► Public Trade Law

► Medical Law

► Public law contracts

► Administrative litigation

Insolvency &

Restructuring

► Corporate Restructuring

and Formal Insolvency

► Transaction Planning

► Insolvency Dispute

Resolution

► Corporate recovery

► Debt offerings/

Debt restructuring

Real Estate

► Development

► Financing

► Funds

► Investments

► Planning and Zoning

► Sustainable Real

Estate

EU State aid law

-Merger control

-Antitrust law

(cartels,

compliance, vertical

restraints)

-Trade law (anti-

dumping, anti-

subsidy)

Competition &

State Aid

► EU State aid law

► Merger control

► Antitrust law

(cartels,

compliance,

vertical restraints)

► Trade law (anti-

dumping, anti-

subsidy)

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCJDdpZ-f9scCFQK8FAodDjIMMw&url=http://diginomica.com/2015/05/26/amazon-bowing-to-eu-pressure-over-tax-practices-now-we-wait-for-some-profits/&psig=AFQjCNG-PedxS53CTyiGPrwb19GYcwas0w&ust=1442310391052778

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRxqFQoTCJDdpZ-f9scCFQK8FAodDjIMMw&url=http://diginomica.com/2015/05/26/amazon-bowing-to-eu-pressure-over-tax-practices-now-we-wait-for-some-profits/&psig=AFQjCNG-PedxS53CTyiGPrwb19GYcwas0w&ust=1442310391052778

Our integrated and sector focused approach


Our client solutionsLaw is offering innovative solutions for our clients’ challenges


Law has developed multidisciplinary “client solutions” which will help to provide our clients

with required strategic support in cost-competitive manner by maintaining high level of

quality.

These are: Operation model effectiveness; Legal entity rationalization; Country manuals for

cross-border financial business; Pre- and post transaction reorganizations; Global data

protection and privacy compliance; Private M&A and Global workforce compliance.

Danish law firmsOutside-in perspective

Law

fir

ms


Very technical within respective competence areas

Come across as old-fashioned

Is it an integrated law firm or lawyers co-operating?

”My” client vs ”our” client vs ”the network’s” client

Lack of account centric approach regarding sales

Today, young people want to work in teams

National focus vs global client approach

Biggest competitors are the in-house function + other law firms

How do you develop new services?

Digitalization – new competitors?

EY | Assurance | Tax | Transactions | Advisory

About EY

EY is a global leader in assurance, tax, transaction and advisory services.

The insights and quality services we deliver help build trust and

confidence in the capital markets and in economies the world over. We

develop outstanding leaders who team to deliver on our promises to all of

our stakeholders. In so doing, we play a critical role in building a better

working world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of the

member firms of Ernst & Young Global Limited, each of which is a

separate legal entity. Ernst & Young Global Limited, a UK company limited

by guarantee, does not provide services to clients. For more information

about our organization, please visit ey.com.

© 2016 EYGM Limited.

All Rights Reserved.

EYG no. DL1167

ED None

This material has been prepared for general informational purposes only and is not

intended to be relied upon as accounting, tax, or other professional advice. Please

refer to your advisors for specific advice.

ey.com

the strategy of a global professional services organization · the strategy of a global...

Documents