Marking three decades in business, Asters Managing Partner Oleksiy Didkovskiy looks back on the firm’s journey from a small Kyiv startup to Ukraine’s largest full-service law firm.
CEELM: Congratulations on reaching such a major milestone. What’s the main feeling you have around this achievement?
Didkovskiy: Reaching our 30th anniversary is a significant achievement for our firm. Thank you for your congratulations.
What is the most important feeling we have about this achievement? I think that it is about being proud of everything we have reached over this time – a resilient and loyal team that has evolved over the decades, constantly changing but still rooted in our core values; clients, whose trust and partnership have been instrumental in our growth. And of course, what also drives us is the "projects with impact" that we have been developing to create positive change in areas such as sustainable development, social justice, education, health, and art.
CEELM: Take us back to the very beginning – how and when was the firm founded, and what was the vision at that time?
Didkovskiy: In 1995, Asters law firm was born – though back then, it had a different name. It all started with two recent graduates from the Institute of International Relations at Taras Shevchenko University of Kyiv, including myself. We embarked on an ambitious and somewhat adventurous journey, armed with enthusiasm but little idea of how to run a legal business. We faced questions about managing the firm effectively, and perhaps most daunting of all, where to find clients who would trust the skills of young lawyers like us.
Looking back, I truly believe that the success of this project depended heavily on one person – Vasil Kisil. He was a prominent lawyer, a talented leader, and an inspiring mentor who shaped generations of lawyers in Ukraine. He was our university professor who offered my classmate and me the opportunity to gain our first experience in his law firm. Later, he encouraged us to take the bold step of establishing our own law firm.
At that time, we had no business experience, but relied heavily on foreign language skills, international outlook, and a deep understanding of the Ukrainian context. This combination was particularly vital as it enabled us to serve the first foreign investors and international companies entering the Ukrainian market – helping them navigate the local legal environment and communicate effectively.
Asters as a brand and the firm's mission statement, "reaching the stars for our clients," appeared in 2008. This statement reflects our vision at the beginning of our history and at different stages of the firm's development – to develop long-term relations with our team and clients, to participate in the projects with impact, and to remain strong, but flexible, especially during the challenging times.
CEELM: If you had to choose just one, what would you say was the make-or-break matter or deal in the firm’s early days that really set its future path?
Didkovskiy: Looking back to the late 1990s and early 2000s, what stood out was not the deal, but the client we worked with – a Norwegian telecommunications company called Telenor. Working with such a renowned and large international company was a crucial milestone.
Firstly, it proved that a large global business trusts our expertise. Secondly, we provided a comprehensive legal support to the client that involved transactional, regulatory, and dispute support. This work helped us grow in terms of expertise and size. Thirdly, cooperation with this client reinforced our financial stability for the near future and potential for growth. Telenor truly set the foundation for our future growth and confidence to develop our business further.
Special mention also goes to our other "make-or-break" client, PrivatBank, the largest state-owned bank in Ukraine. Over the past 10 years, we have been acting in a series of cross-border and domestic disputes linked to its nationalization and alleged fraud by former owners, serving as lead counsel in Ukraine and coordinating counsel in cases before courts in England, the US, Israel, Cyprus, and other jurisdictions.
Today, our client portfolio consists of over 500 active clients – leading foreign and local blue chips, governments, state-run companies, investors, banks, international financial institutions, and HNWIs.
CEELM: Looking back, what would you highlight as the three most important moments in the firm’s growth and evolution? What were the main drivers?
Didkovskiy: Over the past 30 years, Asters has grown from a small team of two ambitious lawyers into Ukraine's largest full-service law firm. Our development reflects the dynamic economic, business, and investment climate in the country, as well as the challenges our clients have faced and the support we've provided along the way. Considering this, I would identify three key moments in the firm’s evolution.
The first one took place in 2008 when the firm changed its name to the current one – Asters. Along with the name change, we also updated our partnership and corporate governance structures to better reflect the evolving team and leadership, as well as implement international approaches to the firm's management.
The second major milestone was in 2018, when two well-established law firms merged. This transformation turned Asters into the largest full-service law firm in Ukraine, with offices in Kyiv and Washington. It greatly strengthened our market position and allowed us to enhance the range and quality of services we offer. Of course, such a major transition also presented challenges, particularly in integrating two teams with different cultures, management styles, and client approaches into a unified firm. Thanks to shared core values, open dialogue, and a commitment to transparency, we navigated this process successfully. During this period, we also expanded our international presence by opening representative offices in Brussels and later in London, which further reinforced our firm’s global footprint and ability to help clients across borders.
The third and most challenging moment has been the commencement of the full-scale war in Ukraine. While previous crises, such as the economic downturn, the onset of war in 2014 in the east of Ukraine, pandemic, have taught us how to make quick decisions under pressure, the current situation has tested us in a whole new way. Our top priority has always been the safety and well-being of our team. For our clients, our guiding principle has been to remain reliable and responsive, even in times of unpredictability. We have often had to adapt our way of working at short notice to continue to provide them with the support they need.
CEELM: Finally, what can clients and the market expect from the firm over the next five years – and looking even further ahead, the next few decades?
Didkovskiy: Due to the current uncertainty, global security risks, and challenging economic conditions, we’ve shifted from long-term planning (5-10 years) to focusing on shorter-term goals. For now, we plan our activities for the next year. This approach helps us define key strategies while staying flexible to adapt to changes like political shifts, new laws, and the evolving needs of our clients and team.
Looking ahead, the situation remains unpredictable. Several factors, including the length and impact of the war, shape our outlook. We’re preparing for different scenarios: an optimistic one where the conflict might end by late 2025 or early next year, and a more conservative one where it continues into next year. Even in the best-case scenario, we understand that Ukraine will face major challenges, such as rebuilding infrastructure, economic recovery, veteran reintegration, and workforce development. To prepare for these realities, we’re strengthening our team, improving HR strategies, and focusing on supporting our people’s mental health and motivation while meeting our clients' evolving needs.
We also understand that the legal sector depends on the success of real sector businesses. Fortunately, Ukraine’s business and investment environment is improving, despite the current challenges. Since the war began, we’ve been helping our clients tackle them and minimize their impact. To this end, we established a War Time Crisis Team, which develops innovative solutions and ensures business continuity. This mission will remain a priority for us.
Another key factor shaping our strategy is the evolving legislative landscape. Ukraine is actively updating its laws to support businesses during the war, align with EU standards, and improve the investment climate. We actively participate in these changes, stay updated, and help our clients navigate new regulations while expanding our expertise. For example, we see growing interest in mechanisms such as public-private partnerships, which can provide flexible, investor-friendly frameworks to facilitate private and donor-backed projects across various sectors.
Alternative dispute resolution methods are also gaining traction in Ukraine. These approaches, already common internationally, provide faster and more cost-effective ways to resolve disputes. Additionally, new lobbying laws are being introduced, creating clearer and more transparent processes for influencing legislation and protecting interests across sectors. The military and defense industry is also rapidly growing, supported by local producers, tech start-ups, and international companies testing their products in real time. This sector’s growth requires new rules and legal frameworks, which are being developed now and will shape the future.
Finally, what really resonates with us is seeing businesses taking on greater social responsibility. Many are driving meaningful social and military initiatives, helping to amplify Ukraine’s voice on the international stage. This spirit reflects our own values, and it is what clients can count on over the next ten years – dedication, expertise, and an active role in initiatives that create real change.
