The opportunities and challenges of building a polycentric law firm in a traditionally centralized legal landscape.
For over two decades, Dentons maintained a modest presence in Brussels, primarily focusing on international trade and competition law. With a small team of just four or five lawyers, the global law firm had yet to establish a full-fledged Belgian practice.
That changed in 2024. Recognizing an untapped opportunity, Dentons decided to expand its Brussels office into a comprehensive Belgian offering, one that could cater to both local and international clients with a unique blend of expertise, competitive pricing, and a collaborative culture.
At the helm of this transformation are Tom Geudens, Belgium Co-Managing Partner and Head of the Banking and Finance practice (on the photo right), and Erwin Simons (on the photo left), a seasoned M&A partner with over 25 years of experience.
Their arrival, alongside other high-profile hires, marks a turning point for Dentons in Belgium.
In an exclusive interview, Geudens and Simons share their vision for the firm’s rapid growth, its distinctive market positioning, and the opportunities – and challenges – of building a polycentric law firm in a traditionally centralized legal landscape.
A new chapter: building a Belgian powerhouse
Dentons’ expansion in Belgium has been nothing short of meteoric. In less than a year, the Brussels office has grown from a handful of lawyers to nearly 20, with plans to reach 40–50 by the end of 2026. “It is quite unique to be able to expand so quickly”, according to Co-Managing Partner Tom Geudens.
This growth is not just numerical; it’s strategic. The firm has attracted top talent across multiple practices, including Jens Debièvre (Public Law and Regulatory), Joris de Vos (Corporate/M&A), Cédric Degreef (Energy), and Olivier Querinjean (Tax).
What sets Dentons apart, according to Geudens, is the cultural fit of its new hires. “We are looking for people like Erwin, like Laurens [Engelen], like ourselves: people who really like to work together on a certain social level”, he explains. “We are not just desk neighbors; we like to work together and just want to do our thing.”
This collaborative ethos, he adds, has been a pleasant surprise for Dentons’ international colleagues, who have embraced the Belgian team’s dynamic.
Simons echoes this sentiment, highlighting Dentons’ entrepreneurial spirit. “We are very entrepreneurial with a focus on regional clients who are internationally active”, he says. “My clientele is very regional, but also very international. I’ve worked with clients in Uruguay, France, the Netherlands, Germany, the UK, and even Oman. They are very interested in the international network, the quality, the approach and the fees are also very interesting.”
Building Belgium's most international local firm
Belgium had long been a ‘white spot’ for Dentons, a conspicuous gap in its otherwise dense global network that meant missed opportunities.
As Geudens explains: “There was the need of our foreign colleagues to build something in Belgium. Because they also work internationally, and a lot of fees were lost. They didn’t have any Dentons in Belgium, so they gave the work to more local players.”
The timing, it seems, was perfect. The Belgian market was ripe for disruption, with many international firms focusing primarily on institutional clients. Dentons saw an opportunity to serve the local market with global capabilities and at a competitive price point.
“We offer a local fee structure”, says Tom Geudens. “In addition to our local partners, who are also internationally active. And in that respect, I think that’s a very interesting formula.”
Polycentric by design, Belgian at heart
Unlike traditional, centralized law firms, Dentons operates on a polycentric model. This means decisions are made locally, tailored to the needs of each market. For Simons, this is a game-changer.
“Dentons calls itself polycentric”, he explains. “We have different centers where we are controlled. Dentons Europe is managed from Amsterdam, the UK and Middle East from London, and the US and Canada from their own hubs. This structure gives us a very strong connection to the local market, which is totally different from my former firm DLA Piper, where everything was decided in the UK.”
This decentralized approach allows Dentons Belgium to set its own hourly rates, a flexibility that is unimaginable at other firms. “Similar firms don’t understand that my client in Belgium doesn’t want to pay 800 euros per hour”, says Simons. “Here, we have the freedom to offer a certain hourly rate, as long as we meet our budgets. That’s the big difference.”
Serving a diverse clientele
Dentons Belgium is not just targeting the usual suspects, such as multinational corporations and private equity giants. Instead, the firm is embracing the full spectrum of the Belgian market, from family businesses to venture capital startups.
“Belgium is a less private equity/venture capital country than the Netherlands or the UK. So we have a slightly smaller clientele there”, says Simons. “But we are working to change that. The big players in the market are still at Allen & Overy and Clifford Chance, but we’re also seeing a lot of family offices in Belgium.”
For Geudens, the focus is on banking and finance, where he brings deep expertise in asset-based lending, acquisition finance, and asset finance. His client list includes major American banks like Bank of America, Wells Fargo, and Bank of Montreal, as well as Belgian firms expanding abroad.
Geudens: “We’re working on two deals right now, one for 500 million euros, another for 3.5 billion euros. These are beautiful deals where Belgium plays a very big role through its European hub. It’s been a very nice experience to see that Dentons, although not yet well-known in Belgium, is already recognized by our international clients.”
Sector focus: energy, technology, and beyond
Dentons Belgium is also making waves in energy transition, a sector Geudens describes as “one of the markets you want to shoot for.”
The firm recently onboarded Cédric Degreef to lead its energy practice, which includes waste-to-energy projects, battery storage, and renewable energy initiatives. Belgian companies like Indaver (waste-to-energy) and KatoenNatie (logistics and transport) are increasingly diversifying into energy, and Dentons is positioning itself as a key advisor.
“We’re not only active in Belgium, but we also export our Belgian expertise internationally, both in West and Eastern Europe”, says Geudens. “A lot of new projects are being set up by the European Union to secure energy, and we’re part of that.”
In the technology space, Dentons is leveraging its global AI platform, Daisy, to streamline legal work. “We have a whole team working on it”, says Geudens. “A few weeks ago, we had an entire Artificial Intelligence day where someone from that team explained the tips and tricks. It’s appreciated by everyone.”
Cross-border opportunities and market trends
Both Geudens and Simons expect a surge in cross-border transactions involving Belgian parties. “The market is still finding its footing, but I see M&A transactions increasing”, Geudens notes. “We really see an increase there. Not just in M&A, but also in banking and finance.”
Simons adds that geopolitical and economic uncertainties – from the Trump tariffs to the war in the Middle East – have created a cautious but resilient deal environment. “After a few months, everyone gets used to it again”, he observes. “I have one client who sees this as the perfect time to invest: anti-cyclical investment.”
Direct lending and alternative finance
While Belgium’s banking sector remains strong, with KBC, ING and BNP Paribas dominating, Geudens sees direct lending gaining traction. “In Belgium, it’s mainly KBC, ING and BNP, but internationally, we’re seeing a lot of direct lending through Belgium”, he says.
The road ahead: ambitions and challenges
Dentons Belgium’s growth is ambitious but grounded in reality. Geudens jokes that while one partner aimed for 70 people within a year, he prefers a more measured approach. “By the end of this year, we’ll have around 50 people”, he says. “Coming from 3 or 4, that’s already a huge leap.”
The firm is also investing in talent development and cultural integration. “We’re organizing more events within Dentons Europe to bring different countries together”, Geudens explains. “For example, we have football and volleyball tournaments with teams from all over Europe. It creates a really nice atmosphere for young people.”
Despite its rapid growth, Dentons Belgium retains a startup-like energy. “We’re working hard to give this place a soul”, Simons says. “The premises are good, but we’re also looking at other locations in the neighborhood. If we grow as planned, we may need a space that’s more comfortable for everyone.”
The biggest trend: local focus with global backing
For Geudens, the most significant development in the Belgian market is Dentons’ commitment to local clients with global support. “Many international offices focus only on their institutional clients and less on the Belgian market”, he says. “We’re doing the opposite: focusing on the Belgian market with a fee structure that’s Belgian-inspired but backed by an international firm.”
This approach, he believes, is unique in Belgium. “Here, we also have litigation, restructuring, insolvency, and reorganizations. For a Belgian clientele, we can add value in ways that other international firms are not willing to do.”
Conclusion: a new player with a fresh perspective
Dentons Belgium is more than just another law firm expansion. It’s a strategic bet on a market that has long been overlooked by global players. With its polycentric model, competitive pricing, and deep local expertise, the firm is carving out a niche that appeals to both Belgian businesses and international clients. As Geudens puts it, “We’re not the biggest, but we want to be the best in our segment.”
And if the firm’s rapid growth and client enthusiasm are any indication, Dentons Belgium is well on its way to achieving that goal.
For now, the focus remains on building critical mass, fostering collaboration, and delivering value one deal at a time. As Simons quips, “We’re a startup with a lot of experience. And that’s exactly what makes us different.”
