After 26 consecutive years of revenue increases Bird & Bird, which has grown its top line by 162% over the last decade – largely through international expansion – has moved its Asia ambitions further forward by teaming up with noted Chinese firm AllBright Law Offices.
Although the deal is no more than a non-exclusive co-operation agreement, it will see AllBright gain a base in London. The firm will open its operation within Bird & Bird’s Fetter Lane headquarters next year, staffed in the medium term by a permanent representative.
As for Bird & Bird, Asia-Pacific chair Justin Walkey said the objective was to strengthen ties with China corporates. ‘We don’t have revenue targets. The objective here is to build deeper relationships with Chinese clients. The focus is on China going global.’
Bird & Bird advised on a number of deals coming out of China over the past 18 months, notably acting for Fosun Group on its acquisition of Championship football team Wolverhampton Wanderers in 2016.
AllBright has 17 offices in mainland China and more than 1,800 lawyers globally. It is cited in The Legal 500 Asia-Pacific as a solid player in the PRC in most commercial practice areas, particularly in IP, also a core focus for Bird & Bird.
Bird & Bird chief executive David Kerr told Legal Business the primary objective from AllBright’s perspective is to look after clients as they internationalise.
‘Everything they are doing in terms of setting up the rep office in London and working with us is designed to meet that requirement. We are maintaining our inbound to China operation. Of course, we may co-operate in particular areas with AllBright on serving those client needs.’
‘We don’t have revenue targets. The focus is on China going global.’
Justin Walkey, Bird & Bird
Both parties confirmed the agreement does not affect Bird & Bird’s existing co-operation with IP specialist Lawjay Partners in China, nor AllBright’s arrangement with Stevenson, Wong & Co in Hong Kong.
This is the latest chapter in Bird & Bird’s Asia strategy, which has seen the firm launch in five cities, including Hong Kong, Beijing (pictured), Shanghai and more recently Sydney. The firm also has co-operation agreements in place with firms in Malaysia, South Korea and Indonesia and posted a 17.5% increase in turnover in the region over the last 18 months.
Bird & Bird has also announced plans to open its first representative office in the US in mid-2018. The new hub, based in San Francisco, will give non-US legal advice on international disputes, IP and data privacy issues.
Kerr said the firm has seen ‘a huge request from clients to have lawyers in that time zone and we think that demand is growing’.