Changing of the guard?

by Ilaria Iaquinta

We are witnessing a full-scale generational shift. According to estimates from the Harvard Business Review, by the end of 2025, Millennials will constitute approximately 75% of the global workforce. This demographic evolution is prompting many organisations to rethink their leadership models, and the legal sector is no exception.

But what is really changing? Generational differences have always existed within the legal profession, but they have never been as evident—or as decisive—as they are today. The new generations are challenging traditional frameworks, driven by technology and a global culture that values intellectual leadership, innovation, immediacy, and increasingly, personal well-being. They not only have different ideas but also possess a greater capacity to influence real changes within an environment historically known for its rigidity and hierarchical structure. Currently, four generations coexist in law firms—Baby Boomers, Generation X, Millennials, and Generation Z—but the proportions are beginning to shift. The pillars supporting these structures are starting to be redefined, both in client relations and, in certain cases, in the spaces where key decisions are made. “We are witnessing a transfer of positions and decision-making powers from my generation to a younger generation, encompassing those between 45 and 50 years old who are very important figures in the firm”, notes Pedro Pérez-Llorca in the interview that opens this edition of Iberian Lawyer. Additionally, Generation X is beginning to hand over the baton to Millennials in decision-making processes. This change knows no borders. In these pages, Nicola Di Molfetta presents the case of Gianni & Origoni (GOP), one of Italy's most prominent law firms, where a Millennial duo has assumed leadership alongside founding partner Francesco Gianni, integrating into the firm's management and executive committees.

The new leaders, already established as benchmarks for their clients, are preparing to spearhead a structural and cultural overhaul within law firms. The business legal services market is becoming increasingly competitive, driven by the entry of new players and the consolidation of major firms reinforcing the Europe-United States transatlantic axis through strategic mergers. The race for innovation is another significant catalyst for change. Implementing advanced generative artificial intelligence tools becomes a key ally in responding to clients’ growing demands for speed and flexibility. And, as always, talent remains the most valuable resource. The new generations seek not only professional development but also purpose, transparency, innovation, and flexibility. Firms that can adapt to these demands will be the ones to attract and retain the best talent, promoting a culture based on collaboration, transformative leadership, and constant feedback. Balancing tradition and transformation will be crucial for the sector's future.

In this edition of Iberian Lawyer, we delve into topics reflecting the ongoing transformations shaping the legal market. Among these is the debate sparked by the Trump administration’s measures, which have placed elite law firms under scrutiny regarding diversity. We explore the case of Vincent, the artificial intelligence developed by vLex, and revisit the significant milestones marking the 25th anniversary of Jones Day’s Madrid office. We also engage in conversation with the managing partner of Sagardoy about the firm’s results and strategies, and discuss the legal and economic implications of nuclear plant closures, crucial to maintaining energy balance. In the in-house sector, general counsel from Aena Internacional, CaixaBank, and Transfesa share their current priorities and challenges. In Portugal, we interview the managing partners of Uría Menéndez regarding the firm's future and strategy in the country, and profile Joana Pinto, who transitioned from a corporate role to become a partner at Antas da Cunha Ecija. Lastly, we examine the opportunities and challenges presented by the growth of the legal sector in the emerging markets of Lusophone Africa.

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