Formal association with former Bird & Bird partner forms OC Queen Street
Last month saw Legal Business 100 top 25 firm Osborne Clarke (OC) continue the ‘second phase’ of its international growth by entering into a formal association with new Singaporean firm, OC Queen Street. Set up by a former partner of Bird & Bird ATMD, Chia-Ling Koh, OC Queen Street will focus on IT, data and IP, and will initially serve clients in the digital and fintech sectors. Koh will be joined later in the year by further partners and support staff.
Speaking to Legal Business, OC international chief executive Simon Beswick said the plan was to roll out the office to clients in other sectors over time.
‘If you take a market like Singapore, which a lot of law firms entered because of insurance, financial services and shipping, it is very well serviced in those areas. What we want to do is play to our natural strengths and over time it will become very clear to us as to where the best opportunities lie.’
‘We want to play to our natural strengths. Over time it will become very clear to us where the best opportunities lie.’
Simon Beswick, Osborne Clarke
According to Beswick, OC has been considering a launch in Singapore for some time. In 2014 the firm entered into a formal best-friends relationship with Indian firm BTG Legal, founded by the former co-head of OC’s India group, Prashant Mara, a move which was then followed by a formal association with Hong Kong firm Koh Vass & Co in September 2015. That association means that after three years, OC can apply for permission to fully merge with the Hong Kong firm.
Beswick added: ‘The first phase of building OC internationally was very much in Europe. The second phase is to build out OC in Asia. A lot of what we do is acting for West Coast US technology, internet and digital businesses on their needs in Europe and Asia. What we have done over the years is track where they need support, in terms of location and services. We know they use Singapore as a gateway to Asia.’
The firm has enjoyed several years of rapid international growth, reflected by marked increases in turnover. OC reported a 23% increase in global revenues for 2015/16, with income up to €236.3m and UK turnover up 17% to £112.9m.
kathryn.mccann@legalease.co.uk