In a recent assessment centre, I was asked about the biggest opportunities and challenges facing the firm. I'm curious to know how others would have responded to this question as I think the response that I have was vague and broad.
This is a really cool question. If I were to answer it during my cycle, I would probably touch on some of the following (which are still prevalent)…
Opportunities
1. Middle East & Asia-Pacific expansion (Growing deal activity, sovereign wealth funds)
2. Private credit & direct lending (Firms / traditional banks)
3. Energy transition & renewables (Legal work in green investments)
4. AI-driven efficiency (Automating due diligence, contract review)
5. Strengthening key client sectors (Tech, healthcare, private equity focus)
Challenges
1. Geopolitical risks (Sanctions, trade restrictions, supply chain issues)
2. Regulatory shifts (Stricter rules in financial services, ESG disclosures)
3. US firms’ talent hiring (Salary wars, talent retention)
4. AI commoditising legal tasks (Lower fees for routine work)
5. Client demand for value (Push for alternative fee structures, efficiency)