Interview with: Kypros Ioannides, Partner

What do you see as the main points that differentiate Hadjianastassiou, Ioannides LLC (member of the Deloitte Legal network) from your competitors?

We are a distinctly modern law firm which focuses on attaining the optimal combination of human talent and technology to deliver exceptional client service. As the world is changing ever faster, we need out-of-the-box thinkers to help us build the future of our firm. Our multi-disciplinary, tech-enabled legal approach allows us to address legal questions not just in the abstract isolated way but with a holistic understanding of what our clients are trying to achieve.

By putting our clients in the hearts of everything we do, we push ourselves to expand our knowledge about our clients, the industries they operate in, and their regulatory and legislative environments around the world so that we can provide perspective that will add value to our clients’ organizations.

Global integration, Business Integration and Technology Integration are the main points that differentiate us from our competitors. With over 2,500 legal professionals in more than 75 countries that work together across borders, we have developed a strategic perspective which enables our clients not only to meet their local responsibilities but also to thrive in the global marketplace. We have access to industry specialists and a broad range of professional services spanning strategy, finance, human capital, risk, technology, audit, tax and, of course, legal, to meet our clients’ complex business needs and to provide a one-stop-shop for our clients. We employ technology to pioneer innovative legal solutions. It is part of the Deloitte organization, which has collected several technology-related accolades and has a strong track record in providing technology solutions, both through in-house capabilities and alliances with technology companies. The combination of legal skills with innovative service delivery, solution platforms and intelligent data analysis enable us to provide innovative solutions and unparalleled services to our clients.

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

• Cybersecurity and privacy: With the exponential rise in the use of technology, privacy and cybersecurity risks are greater than ever, requiring companies to create robust frameworks ensuring the proper management and protection of their data. At the same time, new laws (particularly within the EU) are expected to come into force in an effort to catch up with and regulate technological advancements such as AI, crypto-currency and digital markets.
• Environmental sustainability: Climate change has highlighted the need for urgent action on environmental protection. At the same time, there has been a rising pressure on companies to improve their sustainability-related performances and comply with ever-expanding regulations in ESG (Environment, Social and Corporate Governance). Together, these are fueling demand for ESG-focused legal services.
• Health (including digital health): This area of law has seen a surge in demand especially, but not exclusively, due to the covid-19 pandemic. With this heightened importance on health and hygiene more people are seeking control of their health information and wish to monitor their health through the use of digital healthcare products and devices (such as wearable devices, health record platforms, patient-physician portals etc). The rapid pace in innovation in digital health brings with it significant regulatory and policy challenges (be it in terms of IP, privacy and cybersecurity, product liability etc.) which lawyers will be expected to navigate more and more in the coming years.
• Artificial Intelligence (AI): AI is already taking over the way law firms work. The rapid developments in artificial intelligence are expected to reshape the legal profession and a number of practice areas themselves. The benefits of AI in the drafting of contracts, predicting legal outcomes or recommending judicial decisions, increasing productivity and avoiding costly mistakes are real and tangible. Law firms that embrace emerging AI technologies will be able to benefit from higher efficiency enabling them to meet the higher demand for legal services and to offer services at lower cost.

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

• Business Integration: Our cooperation with the Deloitte Legal international network allows us to have a first seat of view of solutions to issues arising all over the world, draw on know-how from our counterparts in other jurisdictions to maintain our understanding and market awareness up to date and work in multi-jurisdictional transactions as one team to deliver a product of consistent quality. It strengthens our practices and allows the client to benefit from commercially sound, implementable solutions with a one stop shop service both across service lines and across jurisdictions.
• Regulatory: The increasing complexity of the global regulatory environment challenges clients to find solutions for greater organization, specialization, and sectorial knowledge. Deloitte Legal combines global perspective with local insights to help them develop and execute on those solutions. We have enhanced our human capital and technological capabilities to support our clients in navigating through the modern regulatory minefield.
• Enhanced security and business continuity: We have successfully renewed our ISO 22301 ‘Business Continuity Management System’ and ISO 27001 ‘Information Security Management System’ certifications. Obtaining the ISO certificates is especially important during times of uncertainty as it ensures we have the right capabilities to proceed with business as usual. The certifications confirm that we are in position to protect and best serve our clients without disruption and with high levels of protection of their confidential and personal data.
• Data classification: We have introduced a data classification and data management service which protects our clients’ business and personal data.

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

Technology has become an essential part of our lives and it definitely keeps changing the way we interact with our clients and the services we can provide them. At Deloitte Legal, we have introduced technological tools and stayed apprised of emerging legal technologies so that we can deliver maximum value to our clients.

• We use an integrated law firm management suite which provides a single source for all our data.
• We have implemented a document automation solution and we are slowly moving towards a paperless practice. Our contract automation tool allows for the creation and management of contract templates and the easy generation of draft agreements. This eliminates the hassle of finding and populating suitable templates, allowing the in-house lawyers to focus on the productive aspect of a task.
• We provide matter management and global risk and compliance tools as a means to keeping up to date with constant changes in compliance and regulatory matters.
• We consolidate all contracts in a centralised repository, helping clients access key documentation quickly and efficiently, while driving insights that are easy to digest to unlock additional value.
• We have adopted an electronic signing platform to facilitate the online execution of documents which eliminates the hassle of exchanging originals, save time and is an eco-friendly solution.
• We utilise e-discovery tools that facilitate due diligence exercises and document disclosures in litigation or data analysis.
• We have in place a data classification and data management service aimed at protecting our clients’ business and personal data.

Importantly, all of the above can be achieved from an office-less environment where data and tools are accessed at anytime from anywhere with secure cloud services.

Can you give us a practical example of how you have helped a client to add value to their business?

Client-specific seminars and training: We often run seminars/trainings for our clients (for example to banking institutions, systemic and otherwise, governmental authorities (Department of Registrar of Companies and Intellectual Property), major service providers)), tailoring the material to their needs. We add value to their business and know-how by updating them on the latest legal and commercial developments affecting their organisation and the industry in general and educate them on how to adapt and conform with such developments.

Proactive problem solving: We work closely with our clients to anticipate any potential problems that may arise and how to prevent them. This helps our clients minimise their cost and legal exposure by:

• Avoiding litigation costs and costs in dispute settlement.
• Minimising cost of work done in our law firm as against their inhouse departments.
• Providing them with standardised templates to ensure the needs of the business can be met in a timely manner that minimises risk.

Employment law:

• Our firm has recently enhanced its focus on employee benefits, taking into consideration the recent trends in giving value to our clients’ employees (thus our clients’ businesses as a whole) with less traditional methods.
• We assist start-ups to receive quick and robust advice in setting up one of the most significant aspects of every operation, human capital.

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

Clients certainly appreciate stability and strategic direction from their legal advisors. As the legal sector changes and competition increases, clients are looking for commercially and legally viable solutions recommended by their lawyers who understand their strategy and business goals.

In three years’ time, we see our firm on a steady road implementing the specific, realistic and attainable goals set today. Growth on multiple levels is the firm’s three-year business plan, in terms of recruiting more and capable staff, expanding and perfecting practice area niche and adopting further legal tech. Our determination to provide exceptional client service involves equipping our clients with reassurance and confidence. Building on our accomplishments, we plan on continuing stronger.