Over the past five decades, the Maples Group has become a global market leader in the provision of corporate legal services. The Group has 16 offices across the globe with operations in Europe, Asia Pacific, and the Middle East, as well as the Americas and Caribbean. Launched in 2006, the Irish office has become one of the largest in the Maples network. Speaking with funds and investment management partner, Deirdre McIlvenna, the Trinity Business Review team learn about a career in corporate law, the funds industry in Ireland, and Maples’ Professional Internship Programme.
The Maples Group
With over 440 professionals in its Irish office, the Maples Group has a wide range of practice areas, including Corporate, Data, Commercial and Technology; Employment; Finance; Financial Services Regulatory; Funds and Investment Management; as well as Litigation; Property; Projects and Infrastructure and Tax. The wide range of services enables the firm to tailor its offering to the unique requirements of its clients. However, the focus of the firm is directed at funds and investment management, as well as finance and corporate, reflecting the strength of the Irish financial market. Deirdre notes that the firm is increasingly advising on sustainable finance and renewable investment projects within each of these core practice areas.
The Maples Group also prides itself at being at the forefront of innovation in legal service delivery for its clients. Deirdre recognises that ‘delivering legal services efficiently is a critical priority’ in an ever-changing technological landscape. By leveraging a wide range of innovative legal technology tools and techniques across its practice areas, Maples can deliver its services in a cost-effective and productive manner, ensuring greater value for its clients.
Deirdre is of the view that the unique selling point of the Maples Group is that it is a ‘genuine international business’, serving numerous international clients. This global reach brings crucial perspective and comprehensive expertise to the firm. Maples strives to provide time-zone convenient legal advice and ancillary services in regions where their clients are based. The firm also takes pride in a partner-driven knowledge culture, investing significantly in keeping up to date with all Irish, EU and International market developments which impact on its clients. This requires extensive planning as well as communication with relevant government departments, regulators, and industry associations on proposed legislation. Deirdre notes that ‘commercial awareness is very important’ and, according to its clients, this sets the Maples Group apart from other law firms. The firm places a huge amount of value in knowledge sharing, which is achieved through ‘Know How’ meetings and the support of the Professional Support Lawyer (PSL) team.
The Irish Funds Industry
Ireland’s fund industry was established over three decades ago and has continued to grow, with net assets in Irish domiciled funds rising to €3.32 trillion in 2020. Investment managers and asset managers from all over the globe have sought to develop and expand their European distribution footprint through Ireland, motivated by our globally recognised skilled workforce and our ability to provide full access to the EU. As a result, the Irish office serves as an important European hub for internal clients doing business in and from Ireland.
This growth in the Irish funds industry has contributed significantly to the growth and development of the Irish economy. Deirdre comments that it has been ‘hugely rewarding’ to be part of this success. The Maples Group maintains strong connections and representations on various working groups, including Irish Funds, AIMA, and the American Chamber of Commerce. The firm is also in direct communication with the Central Bank of Ireland, being the governing body for Irish regulated funds, as well as the Department of Finance, on projects such as the Sustainable Finance roadmap.
Deirdre observes that ‘no day is ever the same’ working in the Irish funds industry. In Ireland, each regulated fund is required to appoint regulated service providers, such as fund administrators and investment managers. In her role of legal adviser, Deirdre is in contact with these various service providers, as well as with auditors and tax professionals. This interaction with different people from diverse areas is something which Deirdre has ‘really enjoyed’ during her career. She says that ‘there is always something new and interesting taking place’ each day.’
Professional Internship Programme
Maples Professional Internship Programme is the firm’s ‘primary recruitment method for future trainees’ and provides ‘an excellent platform for those interested in securing a training contract’ with the firm. Last June, the Maples Group welcomed 29 students into its Irish office and looks forward to seeing many of these interns return to the firm as trainees in future years.
The Programme has been thoughtfully structured to ensure that interns gain an invaluable insight into life as a corporate lawyer at the firm. It includes a mix of training; department, committee, and global talks; various workshops, Q&A sessions, and several social activities, ensuring interns are exposed to a range of diverse and interesting work. Interns are offered the opportunity to work alongside Partners, Associates and Trainees in one of the firm’s core practice areas, namely, Corporate, Employment, Finance, Funds & Investment Management, Litigation, Property and Tax, and are paid for the duration of the placement. Deirdre is of the view that ‘people are our greatest asset’ and as such, ‘recruitment and retention of talent is a core part of our business strategy’. A law degree is not a precursor to applying to the Maples Group and Deirdre observes that some of the firm’s best lawyers have undertaken different courses. The firm looks for applicants who are good team players with strong communication skills and ‘a curious mind’.
Applications for the Maples Group’s Professional Internship Programme close midnight 7 February 2022.