About

Matthias J. Meckert is described as ‘an excellent lawyer’ and ‘at the forefront of cooperating with outside counsel and legal tech, gender equality and inclusion’, says a nominator. Serving as head of legal, Continental Europe at PGIM Real Estate Germany, he leads a team of eight lawyers and paralegals based in Frankfurt, Munich and Luxembourg. When he first joined the business, it was in the process of restructuring its business model. ‘My role in implementing the necessary changes to support this restructuring is a major highlight in my career, and included the restructuring of a large, global open-end real estate fund and the restructuring of several European investments which were part of the legacy business’, he says. Another accomplishment is the establishment of new legal procedures for PGIM Real Estate including new legal standards and precedent documentation for real estate transactions, and supporting the business in several complex real estate transactions in Continental European jurisdictions. He also oversaw the implementation of AIFMD in Continental Europe (upgrading the existing KAG-license to a German AIFMD license, second AIFMD license in Germany). ‘Further upgrading the AIFM-operations in Luxembourg to comply with the increased regulatory scrutiny in this jurisdiction is a continuing project and challenge. Our industry is faced with constant change and new regulations which requires a lot of legal management skills’, he says. Recently, Meckert was involved in the sale of one of the operating asset management entities (AIFM) to another asset management company. In 2018, he oversaw the forward sale (approximately €400m) of Junghof Plaza, a prominent office building in Frankfurt which had been rented out to Clifford Chance as their new German headquarters. ‘The in-house legal role is becoming one that focuses not just on legal expertise, but also one’s ability to manage both people and process’, he states. ‘Specifically, managing relationships with external counsel as well as alternate service providers is becoming particularly important. Our internal clients, and our company generally, expect us to approach our legal responsibilities as effectively and efficiently as possible. Managing a growing portfolio of options, including LegalTech, has become increasingly important. Regulatory changes have been a challenge for years – now, combined with political risks and populist developments, they are much more important to monitor and manage as they may become a real threat to any business’, he continues. Inclusion and diversity are integral to Prudential’s culture. Since joining the company in Continental Europe, Meckert has similarly made this a priority, particularly related to gender equality in the legal profession and most especially in the use of outside counsel. ‘This has become a standing agenda item on feedback conversations with partner firms, raising awareness and increasing robust discussions on strategies to improve “how” and “who” manages our outside counsel work. This year, I have also requested quantitative data from outside counsel about their firm’s gender profile. Today, more than half of the graduates of law schools in Germany are female. It is our responsibility to support the changing face of the legal profession, both as a diversity strategy but moreover, to support emerging talent. Speaking about and standing up for gender equality to attract and retain talent is an area of focus in which I am increasingly proud of’, Meckert says.