What are the most significant cases, transactions or projects that your legal team has recently been involved in? 

The legal team partners to deliver innovative and strategic solutions in the areas in which UBS operates. We have been involved in some of the most prominent transactions in the financial markets, reflecting our major franchise holdings across different segments of the financial sector.

Recently the legal team have been involved in one of the largest M&A transactions in Japan where we worked together with our banking team to advise an iconic company in Japan. The most notable transaction in the last year has been UBS’s acquisition of Credit Suisse. The legal team played a central role in the successful first ever merger between Global Systemically Important Banks (G-SIBs). The Japan legal team has contributed to the global effort for the historic transaction and will continue to work on the integration of the two banks in Japan – an important market for the combined banking group.

Could you share an example of a time when your team came up with an innovation that improved how your legal team works and did not come at a large expense?

As we invest in new technology solutions, we continue to work on improvements that do not necessarily cost a lot of money. Our focus has been automating document creation tasks, in particular, the automation and standardization of the documentation of traded products. This has increased the efficiency of our product offerings and largely eliminated the need for manual legal work in the provision of commoditised products, including securities, derivatives and foreign exchange.

How important is choosing to work with external lawyers who align with your company’s values?

UBS is committed to diversity, equity and inclusion (DE&I) and has made no secret of its desire to make a difference, both internally and in its relationships with external law firms. Three years ago, 12 global GCs from UBS and other international banks published a joint letter committing to three key areas of DE&I. We expect external counsel to share our values and DE&I is a regular topic in our relationship meetings with external law firms.

Pro bono is also becoming increasingly important in our relationships with external law firms. I am one of many UBS lawyers who is keen on pro bono work. We are eager to partner with like-minded external law firms for opportunities to help those in need.

How do you suggest in-house lawyers build strong relationships with business partners?

Successful relationships between in-house lawyers and business partners, whether internal or external, depend on mutual respect. When we instruct external counsel, we must make the most of their service, and our instructions are inevitably demanding. However, you also need to make an effort to understand their situation, for example resource constraints, and make reasonable demands. It is these efforts that make the difference in building mutual trust with the external lawyer which in turn helps our in-house lawyers.

In my experience, it is also useful to involve external lawyers in forward-looking discussions, such as horizon scanning. While we are busy with day-to-day business, we must make an effort to anticipate and evaluate emerging trends in our business areas and beyond. Exchanging views with experienced external advisors can help to broaden our horizons and they could also benefit from our industry knowledge. Such dialogue will help to develop mutual respect with external advisors.