Cross­ing bor­ders is both the theme of this year’s CMS An­nu­al Re­view and a guid­ing idea that we had when we es­tab­lished CMS 20 years ago. At that time, we de­cided to cre­ate a high-qual­ity, ex­pert and mul­tijur­is­dic­tion­al law firm. This Re­view shows what we’ve achieved over the last year in pur­suit of this goal.Since 1999, work­ing across bor­ders has be­come a daily task for all our law­yers. We are one of the most in­ter­na­tion­al law firms, with more than 70 of­fices in over 40 coun­tries. Our 4,800 leg­al ex­perts world­wide work as one team across jur­is­dic­tions, prac­tice areas and sec­tors to en­sure that you get clear, ac­tion­able and busi­ness-fo­cused ad­vice. You can read about our mul­tijur­is­dic­tion­al sup­port for cli­ents in the stor­ies through­out this An­nu­al Re­view. For ex­ample: an in­ter­na­tion­al CMS team ad­vised Ad­vance / Ne­w­house Part­ner­ship on its pur­chase of Stage En­ter­tain­ment, one of the world’s largest theatre pro­du­cers and own­ers. Our law­yers spe­cial­ising in cor­por­ate, me­dia, real es­tate, tax, em­ploy­ment, IP, com­pet­i­tion and bank­ing all worked on the trans­ac­tion.Glob­al­isa­tion con­tin­ues to im­pact the busi­ness en­vir­on­ment pro­foundly, as do the key is­sues on the glob­al agenda such as the US trade talks with China, Brexit and the con­sequences of cli­mate change. With our glob­al firm struc­ture and mind­set, we help you an­ti­cip­ate the prob­lems you face in your daily op­er­a­tions. On page 28, you can read what some of our part­ners around the world have told us about the chal­lenges their cli­ents are cur­rently fa­cing.An­oth­er ma­jor factor shap­ing our daily work is the im­pact of tech­no­logy on all busi­nesses. This year, our an­nu­al event in Da­v­os on the oc­ca­sion of the World Eco­nom­ic For­um (see page 18) fo­cused on how in­creased di­git­al­isa­tion is af­fect­ing con­ven­tion­al busi­ness mod­els.Today, in­tro­du­cing more ad­vanced tech­no­lo­gic­al tools in­to leg­al prac­tice is a must in or­der to meet cli­ents’ qual­ity and ef­fi­ciency ex­pect­a­tions. For CMS, it is about more than just us­ing ar­ti­fi­cial in­tel­li­gence soft­ware or di­git­al tools. To us, in­nov­a­tion means de­vel­op­ing tech­no­logy to of­fer our cli­ents new high-qual­ity ser­vices and to provide new ways of de­liv­er­ing all our leg­al of­fer­ings. Our scale and pres­ence across many jur­is­dic­tions, coupled with our deep un­der­stand­ing of cli­ent needs in their loc­a­tions, means that we are very well qual­i­fied to de­vise such solu­tions. On page 16, some of our key in­nov­at­ors de­scribe the ways in which our tech­no­logy is be­ne­fit­ting cli­ents.I hope you find some in­ter­est­ing and thought-pro­vok­ing stor­ies in this year’s An­nu­al Re­view and wish you an en­joy­able read. My col­leagues in the CMS ex­ec­ut­ive team and I are al­ways happy to hear from you if you have any com­ments or ques­tions.Cor­neli­us Brandi, Ex­ec­ut­ive Chair­man

De­liv­er­ing leg­al ex­pert­ise to trans­form your busi­ness