Paul Reynolds

Senior Vice President


Paul Reynolds is a Senior Vice President 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 a number of the world’s largest mergers including Procter & Gamble/Gillette, HP/Compaq and T-Mobile/tele.ring, as well as advising authorities in relation to merger investigations. He has advised on a range of anticompetitive conduct cases including in relation to alleged margin squeezes, anti-competitive price discrimination, refusal to supply, cartels and state-aid investigations.

Paul has also advised on a number of litigation cases. These include 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 analyzed 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 a report for Airlines for Europe and IATA on developing a streamlined approach to assessing airport market power.

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 honors from the University of Melbourne.

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    • MCom in Economics, University of Melbourne
    • BA in Economics, University of Western Australia

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