Wistrand future-proofs - joins forces with international law firm CMS
A sharp increase in cross-border business, record-breaking technological development and an increasingly strong focus on sustainability are affecting both today’s and tomorrow’s business community. External factors that also shape the legal industry. To future-proof its position as one of Sweden’s leading law firms and to grow internationally, Wistrand will join CMS, one of the world’s largest law firms. After onboarding, which is expected to be completed in the first quarter of 2024, Wistrand will change its name to CMS Wistrand and will go from 150 lawyers in Stockholm and Gothenburg to over 5800 lawyers worldwide.
“The Swedish legal market has remained relatively unchanged since the last global law firms established themselves here about 20 years ago,” says Maria Kosteska Fägerquist, Wistrand’s Chairman of the Board in Gothenburg.
”In order to be able to offer comprehensive legal advice and maintain a strong position in the Swedish market, it is crucial to have an international reach. We have carefully considered different ways to future-proof our business and CMS appears to be the optimal choice. CMS’s unique structure ensures that we can continue to be an independent, strongly locally based agency for our Swedish clients while benefiting from CMS’s global expertise and network.”
CMS, which is one of the leading global law firms, has continuously expanded into more and more geographic markets over the past 20 years. Today, CMS is represented in 45 countries worldwide.
Wistrand, which is one of Sweden’s leading law firms, has been around for over 100 years.
The synergies with CMS, which share the same strategic focus areas and values, are obvious. Successfully managing the ESG agenda with a focus on climate change and social responsibility is of great importance for companies now and in the future, and as a law firm, we have a responsibility to help our clients navigate the right way. Through our collaboration with CMS, our capacity and expertise in the field of sustainability will be greatly strengthened, which will open up opportunities for continued growth and development.
New technologies will also have a significant impact on how legal services will be provided to clients in the future.
“We see great opportunities to further drive innovation on the basis of AI and new technology by merging with CMS for the benefit of our customers,” says Fredrik Råsberg, Wistrand’s Chairman of the Board in Gothenburg.
“Today’s rapid pace of change will force all medium-sized agencies to make a choice. We have now made our choice and positioned ourselves strongly for the future. We also see it as a major competitive advantage to be able to maintain our strong local focus and not be centrally controlled from any of the major markets, which is otherwise common among many of the international firms,” Fredrik Råsberg continues.
Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 80 offices in 45 countries across the world and more than 5,800 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partership to keep each client ahead in its chosen markets.
The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property, Real Estate, Consumer Products and Hotels & Leisure.
Visit cms.law for more information.