In April of this year thirteen lawyers from Glimstedt joined PwC Legal Estonia, with long-time Glimstedt Partners Indrek Leppik and Priit Latt becoming Partners at the legal arm of the Big Four giant.
PwC Legal claims to be "the largest law firm in the world by geographical coverage, operating in 90 countries."
According to Managing Partner of PwC Legal Baltics (and new Managing Partner of PwC Legal Central and Eastern Europe) Karl Paadam, this is a pivotal moment in Estonian legal services history. "The move is driven by the interest and demand from clients to which we wish to offer the best solutions together. The joining of Glimstedt’s key people means expanding our core competencies and strengthening the position of our law firm on the local market. The success of PwC Legal globally signals a shift in the legal business, which has long been considered exclusive. The change is driven by the increase in cross-border business and a demand for the increase in the understanding of tax and financial advice."
According to Priit Latt, the development of the legal services market and the business model that is new to Estonia has already proven itself in other parts of the world. “We wish to bring the future into this day and deliver our knowledge and experience to the clients in a more accessible way. This enables us to provide 'more-for-less' for our clients – more legal services with less cost.“
PwC Legal reports that its 2016 revenue in Estonia – where it launched only four years ago – was EUR 1.4 million, compared to EUR 1.2 million for Glimstedt.