TORONTO Canadian law firm Osler, Hoskin & Harcourt said on Wednesday it has launched a technology-based platform to support coverage of corporate deals and hired five people to help with the process.
The team will be based in Ottawa and led by Natalie Munroe, who returned to Osler this year after spending a few years at Canadian lender Bank of Nova Scotia (BNS.TO) as senior legal counsel. She has previously worked with U.S. law firm Cravath, Swaine & Moore LLP in New York and London, as well as Osler in Toronto.
Faced with increasing competition and digital disruption, law firms have been responding with strategies that leverage technology.
Under the platform, the team will support mergers-and-acquisitions and corporate finance transactions, but it will branch into other areas as well, Munroe said in an interview.
The team, which is called Osler Works — Transactional, is expected to grow, she said. The five-member team includes four lawyers.
"Clients are putting a lot of pressure on law firms to make changes to the way they practice. This model is put out there by Osler to respond to those needs", Munroe said.
Ottawa was chosen because Osler has a presence there and the city is a relatively lower-cost location, she said, adding that the team will use a number of technology-driven applications for its functions.
Osler has a strong M&A practice. Last year, Osler was the top law firm advising on Canadian M&A transactions, followed by McCarthy Tétrault and Torys, according to Thomson Reuters data.
(Reporting by John Tilak; Editing by Sandra Maler)