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Cyber Attack or Data Breach
Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.
No matter your area of expertise—whether you are an accountant, lawyer, architect, engineer or strategy consultant—all elements of the professional services industry face increasingly complex brand, growth, operational, reputational and workforce risks.
For example, professional services firms are particularly vulnerable to cyber attacks due to the large volumes of sensitive client data they hold, under growing pressure to address a wide range of legal and regulatory requirements plus environmental, social and governance (ESG) issues, and must explore new ways to attract and retain an increasingly mobile workforce in a post-pandemic world, all while navigating rapid digital advances and new geopolitical tensions.
At Aon, our teams have deep experience across all segments of the professional services industry, and we support clients to aim to identify and implement sophisticated risk mitigation strategies, drive growth through novel applications of data and analytics, and look to create sustainable people strategies that improve employee engagement, health and wellbeing.
According to our latest Global Risk Management Survey, the biggest risks facing the Professional Services industry include:
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The International People Mobility (IPM) survey analyses global trends focusing on business travellers, long-term international assignees (expatriates), and remote workers. It draws on 361 survey responses from 49 countries, with most respondents representing large companies (over 1,000 employees).
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The Aon Law Firm Symposium in Nashville brought together more than 500 legal leaders, highlighting the profession’s demand for insight and connection. Among the Aon Professional Services Practice–supported panels was Navigating the Risks and Rewards of Global Expansion through Merger, a lively discussion moderated by Sarah O’Neill with panellists Andrew Clark (A&O Shearman), Laura Giokas (BCLP) and Duncan Weston (CMS).
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Aon was pleased to host a panel discussion on the State of the Insurance Market for Professional Services firms, focused on Financial Lines insurance, including Professional Indemnity, Management Liability and Cyber. The panel featured experienced underwriters Jamie Thompson (QBE) and Bhavik Desai (Markel), moderated by Andrew Roast, Aon’s Law Firm Leader in the Global Broking Centre. We are pleased to share a summary of the key discussion points.
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Jennifer Millar, Aon’s Professional Services Industry Vertical Leader, EMEA, recently had the opportunity to speak with some of the senior leaders at A&O Shearman about their ambitious merger and they offered some fascinating insights into the complexity and collaboration that is required to make such a merger successful. We are pleased to be able to share their thoughts with our Professional Services clients and friends.
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Aon partnered with TheCityUK to deliver a series of three webinars on cyber risk and resilience for financial institutions and professional services firms. Bringing together senior leaders and practitioners, the sessions explored the role of cyber resilience in financial and economic stability and the actions organisations can take to strengthen resilience. This article highlights the key themes from those discussions.
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Attracting and retaining high‑quality talent amid intense competition is a top priority for professional services leaders. While competition for talent has always been strong, the stakes are higher than ever as human capital is firms’ most critical asset and a key driver of growth and innovation. To secure in‑demand skills, firms are now competing with sectors they may not previously have viewed as rivals.