HSF, KWM and DLA Piper invest in key South-East Asia hub
Highlighting continued law firm interest in the Singaporean economy and its potential as a hub for South-East Asia, were the announcements in February by a host of Legal Business 100 firms of plans to enhance their presence. Most notably, Withers established a formal law alliance (FLA) with Singapore law firm KhattarWong while Herbert Smith Freehills (HSF) also teamed up with a local outfit, King & Wood Mallesons (KWM) confirmed plans to open an office, while DLA Piper secured a coup with the hire of Gibson, Dunn & Crutcher’s Singapore partner John Viverito to lead its offering in the city state.
The Withers alliance, named ‘Withers KhattarWong’ comes just weeks after the firm confirmed expansion plans in Australia.
KhattarWong’s entire 26-strong partnership will become partners at Withers, joining the nine lawyers, including six partners, currently housed in the private client specialist’s Singapore outpost. The office, which offers tax and estate planning, corporate and disputes advice, works closely with Withers’ Hong Kong office, while KhattarWong’s 70-lawyer practice focuses on banking, finance and property; corporate and securities; disputes; intellectual property and technology; tax; and private client.
Withers managing director Margaret Robertson told Legal Business: ‘We started considering this about two years ago. As Withers has been expanding its business, we looked at our strategy to increase our revenues in Asia to be about one third of the firm’s total revenues. We were out in Singapore with a few people and wanted to look at how we could get deep links in the community and the region, and working with KhattarWong on matters, and they were looking at expanding internationally. From there we looked at this regulated market and what kind of collaboration might be possible. We decided an FLA was the closest we could have in this market.’
‘We were out in Singapore with a few people and wanted to look at how we could get deep links in the community and the region.’
Margaret Robertson, Withers
KWM is also establishing a foothold in the country after securing a foreign law practice licence from Singapore’s Attorney-General’s Chambers. The branch, 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 presence across Asia, KWM already advises several Singapore wealth funds on their investments and does work for Australian investment funds active in the country.
HSF, meanwhile, confirmed that it has entered into a best-friend agreement with Singapore law firm Prolegis after giving up its local qualifying foreign law practice licence.
The decision means HSF can no longer practise Singapore law, with its 11-partner office, led by arbitration specialist Alastair Henderson, now streamlining its operation to focus on UK, Australian and US law. The firm will now send local law advice to three-lawyer Prolegis.
DLA Piper, which undertook a major overhaul of its Asia partnership in 2014 as it moved to exit under-performing lawyers, secured the hire of Gibson Dunn’s Singapore partner Viverito and of counsel Myles Hankin in February – both join as partners. The corporate duo, who joined Gibson Dunn in 2008 from Jones Day to launch the firm’s Singapore office, will be joined by former colleague and capital markets partner Joseph Bauerschmidt, who is departing Jones Day.
sarah.downey@legalease.co.uk