DLA Piper Hungary marks a major anniversary, celebrating 20 years in the market since its establishment in 2004. Country Managing Partner Andras Posztl speaks about the firm’s sustained success and its commitment to innovation and growth as it looks to the future.
CEELM: Congratulations on your anniversary! Could you tell us more about what this milestone means for DLA Piper in Hungary?
Posztl: Thank you! It’s officially our 20th anniversary in Hungary. DLA Piper started in 2004 by acquiring a regional network of an Austrian law firm of which the Budapest office originally launched in 1989. Hence, this milestone also marks a 35-year presence in Hungary. Remarkably, among the original Partners of this Austrian regional firm, only three are still with us today at DLA Piper and all are in Hungary. This consistency has been instrumental in building our culture and driving our success.
When DLA arrived in 2004, our team consisted of 20 lawyers and support staff. Today, around 130 colleagues are working under the DLA Piper brand, including not just lawyers and support personnel, but tax advisors, and business advisors as well. While we are one of the largest law firms in Hungary, it’s not just about size – it’s about quality too. Since 2022, we’ve had the highest number of Tier 1 ranked lawyers in Hungary according to leading directories. A major contributor to this achievement is our outstanding professional development system – nearly 100 educational events are organized annually for our talents, many of which offer internal credit scores for the bar. This is a massive undertaking, but it ensures that our team continues to grow and develop, maintaining the high standards our clients expect.
Our practice has evolved significantly over the years. We began solely as a law firm in 2004, expanded into tax advisory in 2011, and ventured into business advisory in 2018. This integrated advisory approach addresses our clients’ comprehensive business challenges, allowing us to provide a one-stop-shop, holistic approach rather than piecing together solutions from multiple sources. This strategy has been well-received by clients and has generated substantial market traction. For our colleagues, it’s equally rewarding to work in a multidisciplinary, fostering fascinating discussions and innovative solutions that deliver true value to our clients.
CEELM: Looking back over the past 20 years, what do you consider the key milestones for DLA Piper in Hungary?
Posztl: Several pivotal moments have defined our journey. In 2004, we commenced operations under the DLA Piper brand, and two years later in 2006, the merger with the US operation expanded DLA Piper’s footprint to four continents, enhancing our global reach. Initially, our client base was dominated by Western European and US clients, but over the years, we’ve significantly expanded into markets like East Asia, reflecting our global adaptability and the diverse needs of our clients. We now also represent clients from places such as Argentina and New Zealand, and in the last five years, we’ve seen an increase in Chinese and South Korean investors active in Hungary.
In 2022, we expanded our competition practice by making a strategic lateral hire, which was our only lateral hire to date. All our 15 Partners aside from that hire are homegrown talent, underscoring our commitment to nurturing internal expertise and maintaining the firm’s culture and values.
On a personal note, I became the Country Managing Partner in 2009, marking my 15th year of service and 30th year with the firm, which I joined as a trainee in early 1994. Hence, this anniversary holds special meaning for me personally as well, reflecting a long and fulfilling journey with DLA Piper.
CEELM: What achievements stand out to you from this period?
Posztl: I’m proud of several achievements. We’ve been shortlisted for the Chambers Europe Law Firm of the Year award for the last eleven consecutive years, winning three times – a testament to the consistent quality of our work. This recognition underscores that we’re on the right track and that our efforts to maintain high standards are paying off.
A standout moment was being ranked as the first M&A law firm in Hungary by MergerMarket in 2022 by deal volume. Additionally, DLA Piper Business Advisory secured the top spot as financial advisors, surpassing even the Big 4 in this category. Achieving this dual recognition in such a complex market underscores our ability to deliver exceptional value across the board. Our integrated advisory approach clearly can be noticed through another MergerMarket statistic, as we acted the most often as an integrated (legal and financial) M&A advisor for reported deals in Hungary. It’s worth noting that we achieved this success in Hungary – a market known for its intricacies and challenges, which makes our accomplishments even more significant.
Finally, I am probably most proud of our strong corporate culture which is based on our core values like thriving for excellence, being bold, and being supportive. I have mentioned already our development programs but we’ve also implemented initiatives like Project Bond, which began as a post-COVID return-to-office program and has since evolved into a comprehensive employee satisfaction initiative. This program includes lectures, sports programs, welfare activities, and more, reflecting our commitment to fostering a supportive and people-oriented work environment. Additionally, we dedicate significant resources to mental health support for our colleagues. Creating such an environment is at the heart of everything we do and is a key factor in our sustained success.
CEELM: What’s next for DLA Piper in Hungary?
Posztl: Looking ahead, our focus remains on staying adaptable and innovative. A key area is leveraging AI in meaningful ways. We’ve established an interdisciplinary working group involving lawyers, developers, and international advisors, supported by DLA Piper International, to navigate the AI journey. AI is a fast-evolving space with many potential pitfalls, but the pressure from clients and competitors compels us to stay ahead of the curve. It’s early, and we expect the landscape of legal services to be very different down the line. Clearly, AI will redefine the industry, and it’s crucial to harness its benefits while mitigating risks. If we can’t improve and adapt, we risk losing market share and talented people.
We’re also committed to maintaining our culture and values as we grow. Staying down-to-earth, people-focused, and client-centric is non-negotiable. Having our 20th anniversary in Hungary, I’m immensely grateful to my colleagues – none of our achievements would have been possible without their dedication. Their commitment ensures that we continue to deliver exceptional service to our clients while fostering a positive and innovative work environment.
Our strategy is centered around continuous improvement and adaptability. While specific strategies can become outdated, maintaining a mindset of ongoing development ensures that we remain at the forefront of innovation. This approach not only keeps us competitive but also ensures that we can effectively meet the evolving needs of our clients in a dynamic market.
So finally, as we look toward our future, we aim to build on our strong foundation by embracing new technologies, expanding our service offerings, and continuing to invest in our people. These elements will be crucial as we strive to achieve our next milestone!