Filling in a major hole in King & Wood Mallesons’ (KWM) Asian network, the firm is set to open an office in Singapore, Asia’s largest trading centre for both foreign exchange and commodities.
The Hong Kong-headquartered firm has been granted a foreign law practice licence by Singapore’s Attorney General’s Chambers. The office, which is set to focus on international funds, energy and resources, and trade with China, will become the firm’s 21st in Asia and 33rd globally.
Given the firm’s spread across Asia, KWM already advises several of the Singapore wealth funds on their investments and does work for the Australian investment funds active in the country, including AMP Capital. The firm is currently completing the regulatory processes required by the Singapore authorities and expects to open its office within the next three months.
Global managing partner, Stuart Fuller, said: ‘Singapore is a key market for our clients given its role as a financial and trading hub and a gateway for investments around South East Asia, North Asia and India. Our expansion into these markets through our office in Singapore is the logical next step for the firm.’
‘This was a strategic decision driven by our clients. Singapore is a key market for our clients and the international capability we will provide from our office in Singapore will help us to connect our clients in Asia to the world and our international clients to Asia.’
The firm recently reshuffled its management in Asia, with securities partner Zhang Yi and corporate partner Hayden Flinn made co-heads of its Hong Kong practice.