Paul Reynolds

Paul Reynolds is a Senior Consultant with Compass Lexecon, based in London.

Paul is an expert in the economics of competition law, regulation and damages, with over 25 years’ experience in economic and financial analysis. Paul has assisted firms and lawyers in responding to investigations by national regulatory and competition authorities, the European Commission and in court proceedings and international arbitrations. He has had expert testimony accepted by the UK Competition Appeals Tribunal and the Australian Competition Tribunal.

Paul has advised merging parties on mergers across jurisdictions and industries including Vodafone UK/Hutchison, VHA/TPG, Hutchison Ports Europe/APMT Rotterdam terminal, as well as advising authorities in relation to merger investigations. He has advised on a range of competition law investigations including in relation to proposed cooperation agreements, alleged margin squeezes, anti-competitive price discrimination, refusal to supply, cartels, excessive pricing and state-aid investigations.

Paul has also advised on a number of litigation cases. These include acting as an expert on behalf of BT, Orange and Deutsche Telekom in the Phones 4U case, litigation between Epic Games and Apple, litigation between Vivendi and Deutsche Telekom in relation to ownership of a Polish mobile operator, an expropriation case concerning an electricity network in southeast Europe and competition damages cases in the Czech Republic, Ireland, New Zealand, and the United Kingdom. The UK Competition Appeal Tribunal’s Sainsbury’s/MasterCard judgment 2016 commented “Mr. Reynolds was a most impressive expert witness: he obviously knew his subject intimately and gave his evidence forthrightly and clearly.”

Paul has particular expertise in relation to regulated industries. He has analysed the development of competition in fixed, mobile and broadcasting markets in court and regulatory proceedings. He has authored a number of reports for the GSM Association on regulatory and policy issues and advised regulators and operators on spectrum licensing issues. Paul also has experience in the design of regulation and cost modelling. He led reports for Airlines for Europe and IATA on assessing airport market power and strengthening the European Airport Charges Directive.

Paul previously worked as a partner in other leading economic consultancies as well as a director in the Australian Competition & Consumer Commission (ACCC), and as senior economist with the Australian Federal Treasury. He has a Masters of Commerce (in Economics) with first class honours from the University of Melbourne.