Legal Business is the market-leading glossy monthly magazine for senior decision-makers in the UK and global legal market. Published ten times a year, the magazine reaches thousands of senior lawyers at major commercial firms across the UK and key financial centres of Europe, Asia and the US. It is published by Legalease, the publishers of the respected “Legal 500” rankings.
On 8 June 2017 Legal Business issued its second “Euro Elite” report, its study of the law firms redefining Europe’s legal market. Following thorough research and analysis into more than 300 of the largest law firms in Europe, the report identifies the top 100, assessed not only on size, but also on quality. Firms from more than 40 countries were evaluated, but for half of the countries, including many larger countries, no firm achieved the required standards.
We are delighted to say that Elias Neocleous & Co LLC is the sole Cyprus law firm included in the “Euro Elite”.
Commenting on the award, Elias Neocleous, chairman of the firm, said, “Our inclusion in Legal Business’s Euro Elite 100 is an acknowledgement by one of the most respected market observers of our hard work and our commitment to the highest standards of integrity, quality and service. I should like to thank all my partners and colleagues at the firm for their dedication and commitment, which have brought us this recognition.
On behalf of everyone at the firm I should also like to thank Legal Business, and to express our gratitude to all of our clients in Cyprus and abroad who have supported us and entrusted us with their work, and who continue to support our new firm on our journey of creation and innovation. This award is not only good for our firm, but also for our country. Our constant aim is to provide services of the highest quality and to promote Cyprus as a world-class financial centre of the highest repute, attracting foreign investment and creating economic activity and employment for our citizens.”
Elias Neocleous, managing partner of Cyprus’ largest firm, Elias Neocleous & Co, agrees: ‘The legal market in Turkey has been affected, mainly by the western perception that there is no rule of law. But the legal market in Turkey is big so firms still benefit at the top tier. I wouldn’t be surprised if some of the big banks start having problems with their loan portfolios and will need to raise more capital, generating good, interesting work for top law firms there.’ Neocleous adds that Cyprus is broadly viewed as a ‘small oasis of stability’ and an antidote to the turbulence experienced in the eastern Mediterranean. ‘Because it is part of the EU/eurozone with an attractive business and tax legal regime, it is perceived as a place where businesses may come and create a base if something bad happens in their home countries. Cyprus is benefiting no doubt – we have a lot of people coming here from the turbulent countries in the Middle East.’.