After losing three partners in Singapore last year, Ashurst has launched a formal alliance with local law firm ADTLaw following approval from regulators.
Last month Ashurst said it will now operate under the name Ashurst ADTLaw, advising on arbitration and civil litigation, corporate, and banking and finance, including derivatives and structured products.
ADTLaw founding director and commercial lawyer Dawn Tan set up the nine-lawyer firm in 2013 and is qualified in Singapore, England and Wales, and New York. She has previously worked as a lawyer at Rajah & Tann.
The Singapore outpost was launched in 1996 and comprises more than 40 lawyers, including ten partners. Notable losses from the office last year included office head and private equity specialist Shaun Lascelles to Vinson & Elkins as well as his predecessor, corporate partner Keith McGuire, who joined PwC Legal.
‘We start this venture with a good sense that it’s going to work on the people front, which is frankly very important.’
Ronnie King, Ashurst
Ashurst Singapore managing partner Ronnie King said: ‘A number of firms have danced with potential formal law alliance partners for some time. In terms of technical ability we felt comfortable bringing Dawn on board along with the group of hand-selected people. We start this venture with a good sense that it’s going to work on the people front, which is frankly very important.
‘We lost about ten fee-earners in the past year, quite a few at counsel level, and we lost three partners. We now have a compliment of people and the partnership in Singapore feels a lot more comfortable. We grew last year in Singapore in the most important way that you can grow, and that’s in revenue.’
It is also understood Ashurst has considered establishing a joint operating office in Shanghai with its China alliance partner Guantao. Last month it emerged the firm had renewed its alliance with Guantao for a further six years. A spokesperson for the firm said: ‘We will keep other ways of working together under consideration.’
madeleine.farman@legalease.co.uk