‘After a period of uncertainty there is a return to cautious optimism’

Managing Partners in Ireland’s leading commercial law firms discuss activity drivers, the impact of AI, and the sector and economic outlook for the rest of 2024

GEOFF MOORE

ACTIVITY Business has been robust over the last 12 months and the firm has been busy across all areas. Corporate and M&A activity was resilient in 2023, and ESG will continue to be of huge importance for our clients across all industries, and we are advising clients on areas such as energy transition, climate action, sustainable finance and green bonds. Our Finance Group has also been busy, and on the regulatory side the introduction of the Individual Accountability Framework is going to keep the firm busy as organisations start implementing.

We’re also investing in key sectors such as Technology, Energy, Life Sciences and Private Capital, with cross-disciplinary teams supporting these areas. Digital innovation has been an area of significant focus for us, and we’ve invested substantially in projects to equip our employees with topnotch collaboration tools while preserving our firm’s strong culture of excellence in client service.

We advised CRH plc on its transition to a primary listing on the NYSE. This was a really complex and innovative transaction which was completed in a very short timeframe, which was challenging given the cross-border nature of the deal, the change of settlement system, and obtaining Irish court approval. It was great to support CRH plc as they take advantage of growth opportunities in the US.

AI We see AI as an opportunity for us and for the legal industry, and something that will enhance legal practice and the experience for clients and our people. We are very open to partnering with organisations on this, and have already conducted an extensive trial of Harvey, the AI tool that assists with contract analysis and due diligence.

OUTLOOK We have been navigating a period of uncertainty, principally due to geopolitical issues, but I think there is a return now to cautious optimism. Many organisations, including ourselves, are grappling with challenges such as inflation and rising cost bases. Macro-economic factors such as global inflation, geopolitical instability, and high energy prices remain challenging, but the labour market in Ireland continues to perform well despite slowdowns in some sectors. I think Ireland is well placed to get through the next period.