International expansion may be off the agenda, but Austria’s independents are not overly nervous about 2009, reports Paul Evans

Austria’s leading firms have shown considerable verve and enterprise, building a formidable presence in Eastern and South Eastern Europe. Wolf Theiss has offices as far flung as Tirana and Bratislava, while close rivals Schonherr has ventured as far as Kiev. The benefits reaped from this expansion have been self-evident, both in terms of the revenue generated by major transactions and the considerable regional profile that Austrian firms have built.