Global 100 Asia Focus: Long-term greedy

Global 100 Asia Focus: Long-term greedy

The clichéd view of the Asia legal market is that it is a very difficult place for international firms to make money. Recent economic underperformance in China has not helped, although the flurry of office openings, hires and deals in the region over the last 12 months would suggest otherwise. Local alliances are the current vogue in China, with the likes of Linklaters and Ashurst opting for these often-complex arrangements.

But while the Asia region is dominated by China, based on recent activity it would seem the so-called secondary markets, like Japan, Singapore, South Korea and Indonesia, could be lucrative areas of interest. As Herbert Smith Freehills (HSF) Greater China managing partner May Tai notes: ‘China remains the driver of growth and the story of our careers. However, activity in South-East Asia is just as busy, from the developed markets of Singapore and Malaysia to rapidly emerging markets, such as Laos and Cambodia.’ Continue reading “Global 100 Asia Focus: Long-term greedy”

Seven wonders: Globetrotting Dentons combines with firms in Africa, the Caribbean and South East Asia

Seven wonders: Globetrotting Dentons combines with firms in Africa, the Caribbean and South East Asia

The world’s largest law firm by fee-earners, Dentons,  is continuing its relentless global expansion as it announces new combinations with seven law firms across Africa, the Caribbean and South East Asia today (14 March).

Dentons is combining with Hamilton, Harrison & Mathews in Kenya, Mardemootoo Solicitors and Balgobin Chambers in Mauritius, Dinner Martin in the Cayman Islands, Delany Law in the Eastern Caribbean, Hanafiah Ponggawa & Partners (HPRP) in Indonesia, and Zain & Co in Malaysia. The combinations mean the firms become full voting, contributing and participating members of the Dentons group, and are expected to launch later this year subject to partner approval and meeting regulatory requirements. Continue reading “Seven wonders: Globetrotting Dentons combines with firms in Africa, the Caribbean and South East Asia”

Essex Court forced to clarify position after local Bar outcry over its Singapore play

Essex Court forced to clarify position after local Bar outcry over its Singapore play

Allied branch will act independently to chambers

Essex Court Chambers strengthened its Singapore ties in November by bringing in four advocates to become overseas members, but was later asked by Singapore’s Ministry of Law to explain itself after initial media reports implied the set had formally opened a Singapore law branch. Continue reading “Essex Court forced to clarify position after local Bar outcry over its Singapore play”

International doubles – Bird & Bird and Herbert Smith Freehills open new hubs in Amsterdam and Sydney

International doubles – Bird & Bird and Herbert Smith Freehills open new hubs in Amsterdam and Sydney

Bird & Bird continues to invest in its international operations, launching its second Dutch office in Amsterdam 16 years after opening in The Hague.

However the new base, operative in January 2018, will not have any permanent staff but act as a hub for the firm’s lawyers to meet with Amsterdam-based clients as well as providing a flexible working space. Continue reading “International doubles – Bird & Bird and Herbert Smith Freehills open new hubs in Amsterdam and Sydney”

Breaking China – Bird & Bird signs co-operation agreement with local leader AllBright

Breaking China – Bird & Bird signs co-operation agreement with local leader AllBright

It has achieved long-term revenue growth through sustained international expansion – particularly in Asia in recent years – but Bird & Bird has made what it will consider a significant step forward for its ambitions in the region – a non-exclusive co-operation agreement with leading Chinese firm AllBright Law Offices.

The deal, which will see both firms work together on a preferred supplier arrangement, will enable Bird & Bird to build deeper relationships with Chinese clients. As part of the agreement, Allbright Law Offices will gain a base in Europe, with the firm opening its own operation within Bird & Bird’s Fetter Lane headquarters, staffed in the medium term by a permanent representative. Continue reading “Breaking China – Bird & Bird signs co-operation agreement with local leader AllBright”

Looking east: Linklaters cements Saudi partnership as Hogan Lovells shuts Mongolia base

Looking east: Linklaters cements Saudi partnership as Hogan Lovells shuts Mongolia base

Two Global 100 firms have made opposing international moves this week, with Linklaters signing a partnership with a local firm in Saudi Arabia while Hogan Lovells announced the closure of its Mongolia base.

Linklaters announced today (11 October) it has entered a formal agreement with 20-lawyer Zamakhchary & Co (Z & Co), meaning two lawyers from the Magic Circle firm will be based in the kingdom. Continue reading “Looking east: Linklaters cements Saudi partnership as Hogan Lovells shuts Mongolia base”

International moves: Kennedys in double office launch as Bird & Bird plans San Francisco base

International moves: Kennedys in double office launch as Bird & Bird plans San Francisco base

Top-50 insurance specialist Kennedys has made an ambitious bid to further increase its global footprint, today (2 October) announcing the opening of new offices in Paris and Bangkok.

With the launches in France and Thailand, Kennedys has brought its tally of new international offices opened this year to nine. Continue reading “International moves: Kennedys in double office launch as Bird & Bird plans San Francisco base”

Banking on change

Banking on change

When the global financial crisis struck in 2008, the impact reverberated far beyond the traditional financial centres of the West. Initial speculation was that Asia would be relatively well insulated from the crisis due to the growing financial independence of the region. Instead, the effects hit at a speed and depth that surpassed all expectations. Under fire, financial institutions sought to reduce their exposure to the region, resulting in a steep decline in the value of currency and equity markets, at a time when the price and volume of exports was plummeting.

The immediate impact of the crisis gave way to an equally brisk recovery, bolstered by strong domestic demand in China and Indonesia preventing both economies from falling into recession. But while sophisticated financial centres were swift in their regulatory response to the crisis, particularly where reform to over-the-counter financial products and transparency were concerned, much of Asia has lagged behind. Continue reading “Banking on change”

‘A stellar team’: Pinsents to open in Perth with Norton Rose Fulbright partners

‘A stellar team’: Pinsents to open in Perth with Norton Rose Fulbright partners

Pinsent Masons is continuing its extensive international expansion of late with a new Australian office and the hire of four infrastructure and energy partners from Norton Rose Fulbright.

The firm’s new Perth base, to open in the autumn, will be its third Australian office after Sydney and Melbourne and its fifth international launch in the last 18 months. Continue reading “‘A stellar team’: Pinsents to open in Perth with Norton Rose Fulbright partners”