Harneys: from offshore to global
We don’t compete with onshore:
We flex our expertise through decades of being the market-leading firm in the BVI and are really conscious of making sure we direct our clients to the best jurisdiction for their commercial interests and requirements.
Although we are based in the same locations as many of the world’s leading onshore firms, we are very much not in competition with them. The Linklaters, Freshfields and Jones Days of this world are a key source of work, and we are really lucky to work cheek to jowl with firms of that pedigree.
Referrals are two-way:
We are often contacted by clients looking for onshore advice, which gives us an opportunity to refer work to the onshore firms we work with most closely.
Relationships with onshore firms in New York, London and Hong Kong are critical to sustaining our work. Their importance cannot be understated and we are very conscious that our peers also offer excellent service and the onshore firms have plenty of options. It’s why we have such a keen focus on making sure we spend as much time with those firms as possible – both on deals and socially.
Branding and visibility:
The best advertising any firm can do is to perform their job to a really high standard consistently. We also use LinkedIn effectively to raise our profile and connect with our target market.
We are very much a global firm and have never struggled with a perception issue. This is largely due to the majority of our lawyers having had experience at magic circle or international firms.
Facing the competition:
I think it’s simply the amount of choice. There are so many fantastic, high-calibre offshore firms. We need to be clear on what makes us different and what makes us a compelling partner. To my mind, it is based on us being good, decent folk to work alongside and we see ourselves in partnership with onshore firms to achieve the best possible result for a client in the most cost-effective manner.
We are asked to pitch for most major restructurings and dispute resolution matters on the basis that we have a proven track record and an exemplary global team.
Our bench strength is deep and we work alongside our transactional teams to unravel the most complex matters imaginable. It’s exciting and fast-paced work that we do not take for granted. I am acutely aware that clients have options, and the key for us is to make sure they phone us first.
International disputes are a healthy mix:
We have seen a huge amount of minority shareholder litigation in the last five years and those valuation cases remain.
Shareholder disputes also bubble up in times of economic volatility and uncertainty.
Get the basics right to succeed:
I think the key is not to over-engineer. Do your job well consistently, retain and recruit talent, and don’t underestimate the importance of focusing on a culture that makes your firm a good place to work.
A lot of my content on LinkedIn is to demonstrate that we are a firm made up of humans who will be good people to work with on matters that will inevitably have moments of acute stress. I think firms should think more about flexing the EQ they have in their ranks.
The full report can be downloaded here.
