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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Cederquist is not scared by competition. Rather, if there are any new arrivals into Sweden’s legal scene, the firm takes the opportunity to evaluate its own performance. “Competition makes you better,” says managing partner Jens Tillqvist.
Founded in 1953 by the in-house lawyer of a major Swedish publishing house, Cederquist now has more than 90 lawyers.
Describing his firm as “young and modern”, Tillqvist says he and his colleagues have learned a lot from other management consultants.
“The legal industry has been quite dormant, but we believe we’ve gained a lot by recruiting from other organisations, such as branding and marketing,” he says.
The past year has been positive for the firm, which has gained market share in most of its practice areas. The firm has won roles on a number of important M&A deals over the last six months, while litigation and arbitration have peaked. Several high-profile deals with banks have also been sealed.
“It’s been a busy 12 months,” says Tillqvist, who specialises in employment and benefits and dispute resolution.
The firm remains committed to remaining an individual player, with the aim of becoming one of the top five firms in Sweden. When it comes to M&A statistics, Cederquist is already within the top five in the country.
“The UK and US markets are important for us,” adds Tillqvist. “We’ll rely on best-friend relationships in these markets.”
The firm wants to retain its base in Stockholm, while expanding by around 10-15 lawyers per year.
Despite these plans for growth, Tillqvist is following the trend towards a leaner pricing strategy. “You must come up with something else,” he says. “We’re able to offer a fixed price on everything we do. Also, the client can score our services and pay a fee according to this score.”
Managing partner: Jens Tillqvist
Turnover: €23.5m (£21m)
Number of partners:18
Number of lawyers: 36
Number of fee-earners: 97
Number of offices: One
Main practice areas:Corporate and M&A, finance, commercial real estate, competition and public procurement, corporate recovery, dispute resolution, employment and benefits, energy and commodities, IP, media and IT, life sciences
Key clients:Handelsbanken, RBS, Swedbank, Morgan Stanley, Deutsche Bank, Ericsson