COVER STORY 32 ASIAN LEGAL BUSINESS NOVEMBER 2015 ASIA'S TOP LARGEST LAW FIRMS 2015 RANK FROM 2014 FIRM HEADQUARTERS PARTNERS ASSOCIATES TOTAL NO. OF LAWYERS* 1 = Baker & McKenzie U.S. 296 557 931 2 = Clifford Chance UK 79 228 409 3 = Linklaters UK 55 285 340 4 +3 Mayer Brown U.S. 80 180 260 5 +1 Freshfields Bruckhaus Deringer UK 37 N/A 250 6 -1 Allen & Overy UK 49 125 234 7 +2 Herbert Smith Freehills UK/Australia 50 167 232 8 -4 DLA Piper UK/U.S. 56 168 224 9 -1 Hogan Lovells UK/U.S. 53 165 218 10 +2 Jones Day U.S. 68 92 191 11 -1 Norton Rose Fulbright UK 62 126 188 12 -1 Morrion & Foerster U.S. 59 79 173 13 = Ashurst UK 35 107 148 14 +1 White & Case U.S. 44 85 139 15 -1 Sidley Austin U.S. 37 80 138 16 = Reed Smith U.S. 41 65 133 17 = Taylor Wessing UK 38 74 119 18 +14 Clyde & Co UK 31 63 119 19 = Pinsent Masons UK 28 89 117 20 +3 Latham & Watkins U.S. 29 76 105 21 -1 K&L Gates U.S. 44 53 101 22 -4 Davis Polk & Wardwell U.S. 12 82 100 23 +5 Skadden, Arps, Slate, Meagher & Flom U.S. 20 58 97 24 NEW Morgan Lewis & Bockius U.S. 27 61 94 25 -4 Stephenson Harwood UK 27 62 89 26 +13 Simmons & Simmons UK 29 53 88 27 -2 Bird & Bird UK 27 59 88 28 +2 Watson, Farley & Williams UK 23 63 88 29 -4 Holman Fenwick Willan UK 29 58 87 30 -8 Shearman & Sterling U.S. 23 60 84 31 = Squire Patton Boggs U.S. 27 47 83 32 -5 Kirkland & Ellis U.S. 33 42 82 33 -9 Orrick, Herrington & Sutcliffe U.S. 23 50 78 34 = Ropes & Gray U.S. 25 50 75 35 -2 Paul Hastings U.S. 27 31 73 36 +1 Eversheds UK 22 38 65 37 -2 Simpson Thacher & Bartlett U.S. 15 48 65 38 +2 Cleary Gottlieb Steen & Hamilton U.S. 10 50 63 39 NEW Dentons N/A 12 27 58 40 -4 O'Melveny & Myers U.S. 15 22 57 41 = Slaughter and May UK 13 >40 >53 42 = Ince & Co UK 16 26 51 43 +3 Milbank, Tweed, Hadley & McCloy U.S. 13 35 51 44 -6 Duane Morris & Selvam U.S. 18 19 44 45 -1 Berwin Leighton Paisner UK 16 26 42 46 NEW Winston & Strawn U.S. 17 14 39 47 +1 Minter Ellison Australia 14 N/A >37 48 -1 Sullivan & Cromwell U.S. 8 26 37 49 NEW Troutman Sanders U.S. 9 27 36 50 -1 Weil, Gotshal & Manges U.S. 10 16 32 TOP 50 INTERNATIONAL LAW FIRMS OUR RESEARCH • Firms were contacted in September 2015 and asked to provide partner and lawyer numbers across their Asian offices as of Sept. 1, 2015. • ‘Total No. of Lawyers’ refers to the total number of partners, associates, counsel, consultants and foreign counsel. Paralegals, trainees and pupils were not included in this figure. • In the instance where a firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission. • The research did not include Australia and New Zealand. Only lawyers and partners based in Asia were taken into account for this research. • In the instance where two firms had the same number of total lawyers, the firm with the greater number of partners was ranked higher. NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.
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COVER STORY32 ASIAN LEGAL BUSINESSNOVEMBER 2015
ASIA'S TOP
LARGESTLAW FIRMS
2015RANK
FROM2014 FIRM HEADQUARTERS PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Baker & McKenzie U.S. 296 557 931
2 = Clifford Chance UK 79 228 409
3 = Linklaters UK 55 285 340
4 +3 Mayer Brown U.S. 80 180 260
5 +1 Freshfields Bruckhaus Deringer UK 37 N/A 250
6 -1 Allen & Overy UK 49 125 234
7 +2 Herbert Smith Freehills UK/Australia 50 167 232
• Firms were contacted in September 2015 and asked to provide partner and lawyer numbers across their Asian offices as of Sept. 1, 2015.
• ‘Total No. of Lawyers’ refers to the total number of partners, associates, counsel, consultants and foreign counsel. Paralegals, trainees and pupils were not included in this figure.
• In the instance where a firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.
• The research did not include Australia and New Zealand. Only lawyers and partners based in Asia were taken into account for this research.
• In the instance where two firms had the same number of total lawyers, the firm with the greater number of partners was ranked higher.
NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.
COVER STORY 33WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business
As the global economy continues its steady recovery, Asia is fast becoming the epi-centre of growth. Asian companies are ramping up their outbound activity, and a number of initiatives like the ASEAN Economic Community and the One Belt, One Road project are in motion, with the goal of boosting economic cooperation and connectivity in the region. According to Thomson Reuters data, announced M&A activity with any Asian involvement (ex-cluding Japan) in the first nine months of 2015 reached an all-time high of $829.7 billion, a whopping 61 percent jump over the $515.2 billion in that period last year.
Asia’s growth is certainly creating busi-ness opportunities and stimulating demand for legal services in the region. The past 12 months alone have seen a wave of law firm mergers and alliances, new office openings, and the expansion of existing Asian offices through lateral hires, internal promotions and relocations. These trends are reflected in our domestic and interna-tional firm tables featured in this report.
For the second year running, in order to widen the scope of the research and offer a more comprehensive overview of the legal market in Asia, ALB has separated Asia’s Top 50 Largest Law Firms list into two tables: “Top 50 International Firms” and “Top 50 Asian Firms”.
2015RANK
FROM2014 FIRM HEADQUARTERS PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 +1 Dacheng Law Offices China 1197 1015 4311
2 -1 Beijing Yingke Law Firm China 1056 2164 3220
3 = Zhong Yin Law Firm China 222 999 1221
4 +3 Kim & Chang South Korea 120 N/A >1,200
5 +1 DeHeng Law Offices China 373 485 1182
6 +3 AllBright Law Offices China 307 777 1084
7 -2 Grandall Law Firm China 280 720 1000
8 = Zhong Lun Law Firm China 220 780 1000
9 -5 King & Wood Mallesons China/Australia 274 213 696
10 +8 Guanghe Law Firm China 141 256 645
11 = Long An Law Firm China 202 413 615
12 NEW Cyril Amarchand Mangaldas India 90 463 605
13 NEW Tian Yuan Law Firm China 78 >500 >578
14 -1 Nishimura & Asahi Japan 102 363 522
15 = Lee & Ko South Korea 143 367 510
16 +3 Beijing DHH Law Firm China 70 64 471
17 = Tahota Law Firm China 81 387 468
18 +3 Lee and Li Taiwan 60 384 444
19 +1 Rajah & Tann Singapore 173 257 430
20 -4 Bae, Kim & Lee South Korea 170 254 424
21 NEW Sichuan Mingju Law Firm China 52 369 421
22 +3 Khaitan & Co India 101 314 415
23 +5 Guantao Law Firm China 92 315 414
24 -10 Zhong Lun W&D Law Firm China 207 196 403
25 -3 Shin & Kim South Korea 153 197 391
26 +7 Anderson Mori & Tomotsune Japan 117 215 380
27 -4 Yulchon South Korea 132 182 378
28 NEW Shardul Amarchand Mangaldas & Co India 70 289 370
29 -2 Allen & Gledhill Singapore 143 222 367
30 -4 Mori Hamada & Matsumoto Japan 100 263 363
31 +8 Fangda Partners China 63 294 357
32 -20 JunHe China 186 150 353
33 -9 TMI Associates Japan 71 282 353
34 -2 Nagashima Ohno & Tsunematsu Japan 93 209 343
35 +12 Jincheng Tongda & Neal China 126 213 339
36 +7 AZB & Partners India 60 260 320
37 -7 Yoon & Yang South Korea 115 165 315
38 -2 WongPartnership Singapore 103 206 309
39 -5 J. Sagar Associates India 75 211 306
40 NEW King & Capital China 97 58 300
41 -4 Jingtian & Gongcheng China 83 208 291
42 +2 Hylands Law Firm China 70 200 280
43 -1 Global Law Office China 60 220 280
44 -6 Drew & Napier Singapore 87 122 278
45 -16 Luthra & Luthra India 54 220 274
46 -6 ZICOlaw Malaysia 69 200 273
47 NEW Jointide Law Firm China 121 79 266
48 NEW Gaopeng & Partners China 65 155 220
49 -8 Deacons Hong Kong 52 148 213
50 NEW Zhongzi Law Office China 41 167 208
TOP 50 ASIAN LAW FIRMS
While the past 12 months have seen some international firms scale back operations – and in a few cases, pull out of Asia entirely – the majority of firms continue to invest heavily in their Asian operations. Several international law firms have strengthened their Asian presence, expanding out of the financial centres of Hong Kong and Singapore, and into jurisdictions like Japan, Korea and Indonesia.
U.S. law firms account for 27 of the 50 largest international firms in Asia, though only three feature in the top ten. Meanwhile, UK firms make up 18 of the 50 largest international firms in Asia, with four in the top ten. Firms with joint headquarters like DLA Piper (UK/U.S.), Hogan Lovells (UK/U.S.) and Herbert Smith Freehills (UK/Australia) also feature in the top ten. With 931 lawyers, Baker & McKenzie takes the crown for the second year running as the
ASIA'S TOP 50
*Total No. of lawyers is the total number of partners and associates, as well as other counsel, consultants and foreign counsel. Paralegals, trainees and pupils
COVER STORY34 ASIAN LEGAL BUSINESSNOVEMBER 2015
largest international firm by headcount in Asia. UK Magic Circle firms Clifford Chance and Linklaters retain the second and third spots from last year, with 409 and 340 lawyers in Asia, respectively. Winston & Strawn and Troutman Sanders enter the Top 50 International Law Firms table this year, as well as fellow U.S. firm Morgan Lewis & Bockius, which absorbed Bingham McCutchen in November 2014 and merged with Singaporean firm Stamford Law Corporation in April this year. Dentons
With 4,311 lawyers in China, Dacheng Law Offices displaces Beijing Yingke Law Firm (3,220 lawyers) as the largest law firm in China. Zhong Yin Law Firm (1,221) is the third-largest firm in China, while DeHeng Law Offices (1,182) jumps up one spot from last year to fourth. AllBright Law Offices (1,082) catapults up three spots to fifth this year,
NORTH ASIAalso features in the table this year at #39, and is poised to climb higher in next year’s table next year once its mergers with China’s Dacheng Law Offices, Singapore’s Rodyk & Davidson and Australia’s Gadens are sealed.
Among Asian firms, Dacheng Law Offices (4,311 lawyers) clinches the top spot as the largest firm in Asia, displacing fellow Chinese firm Beijing Yingke Law Firm. Korean firm Kim & Chang (>1,200) is the only non-Chinese firm in the top ten.
2015RANK
FROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 +1 Dacheng Law Offices 1197 1015 4311
2 -1 Beijing Yingke Law Firm 1053 2150 3203
3 = Zhong Yin Law Firm 222 999 1221
4 +1 DeHeng Law Offices 373 485 1182
5 +3 AllBright Law Offices 306 776 1082
6 +1 Zhong Lun Law Firm 220 780 1000
7 -3 Grandall Law Firm 276 718 994
8 +5 Guanghe Law Firm 141 256 645
9 = Long An Law Firm 202 413 615
10 NEW Tian Yuan Law Firm 78 >500 >578
11 -5 King & Wood Mallesons 245 138 550
12 -1 Zhong Lun W&D Law Firm 207 196 403
13 +1 Beijing DHH Law Firm 70 64 471
14 -2 Tahota Law Firm 81 383 464
15 NEW Sichuan Mingju Law Firm 52 369 421
16 -1 Guantao Law Firm 87 305 397
17 -7 JunHe 186 150 353
18 +5 Jincheng Tongda & Neal 126 213 339
19 = Fangda Partners 59 268 327
20 NEW King & Capital 97 58 300
21 -3 Jingtian & Gongcheng 82 208 290
22 -2 Global Law Office 60 220 280
23 -2 Hylands Law Firm 68 200 278
24 NEW Jointide Law Firm 121 79 266
25 NEW Gaopeng & Partners 65 155 220
26 NEW Zhongzi Law Office 41 167 208
27 -5 Tenet & Partners 65 47 178
28 -3 Boss & Young 66 104 170
29 NEW Han Kun Law Offices 34 116 162
30 NEW Watson & Band Law Offices 33 108 159
CHINA DOMESTIC2015
RANKFROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 +3 Clifford Chance 11 36 88
2 -1 Baker & McKenzie 20 53 82
3 +2 Freshfields Bruckhaus Deringer 5 N/A >60
4 -2 Hogan Lovells 13 47 60
5 +1 Linklaters 9 32 47
6 -3 DLA Piper 7 40 47
7 = Pinsent Masons 8 37 45
8 +4 Jones Day 20 17 39
9 = Mayer Brown JSM 8 30 38
10 NEW Clyde & Co 7 17 34
11 NEW Dentons 5 21 31
12 -2 Herbert Smith Freehills 6 23 29
13 NEW Simmons & Simmons 7 14 27
14 = Norton Rose Fulbright 10 16 26
15 +7 Reed Smith 6 7 26
16 -5 Allen & Overy 8 14 25
17 -9 CMS, China 5 20 25
18 -3 Sidley Austin 7 13 24
19 -2 White & Case 4 15 22
20 NEW Orrick, Herrington & Sutcliffe 6 9 20
21 -5 Taylor Wessing 4 16 20
22 -9 O'Melveny & Myers 7 4 19
23 -3 Gide Loyrette Nouel 4 15 19
24 -1 K&L Gates 7 10 18
25 NEW Bird & Bird 5 13 18
CHINA INTERNATIONAL
CONTINUED ON PAGE 36
NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.*Total No. of lawyers is the total number of partners and associates, as well as other counsel, consultants and foreign counsel. Paralegals, trainees and pupils
20TH ANNIVERSARY
COVER STORY36 ASIAN LEGAL BUSINESSNOVEMBER 2015
having added more than 100 lawyers to the firm since September last year. The China Domestic table also features a number of new en-trants, including Tian Yuan Law Firm (>578), Sichuan Mingju Law Firm (421), King & Capital (300), Jointide Law Firm (266), Gaopeng & Partners (220), Zhongzi Law Office (208), Han Kun Law Offices (162) and Watson & Band Law Offices (159).
Clifford Chance (88) jumps up three places from last year to become the big-gest international law firm in China, ahead of Baker & McKenzie (82), Freshfields Bruckhaus Deringer (>60), Hogan Lovells (60) and Linklaters (47). Jones Day (39) rises four places from #12 to #8, while
Reed Smith (26) climbs seven spots to #15. O’Melveny & Myers falls nine places from #13 to #22, with the firm’s headcount contracting by 12 lawyers since September 2014.
In Hong Kong, a healthy flow of M&A, IPO and other transactional work is creating more work for the legal industry, causing many firms to beef up their corporate and capital markets practices. And with a fully functional Competition Law just around the corner, some firms have started to form new or bolster existing antitrust practices through partner relocations and lateral hires. Deacons retains its status as the largest Hong Kong law firm, boasting 213 lawyers, including 52 partners. The firm is
also the only Hong Kong outfit to feature in the Asia Top 50 table. Woo Kwan Lee & Lo (78), Li & Partners (65) and Wilkinson & Grist (53) cement their second, third and fourth positions, respectively. Meanwhile, Howse Williams Bowers (49), which was established in 2012, climbs two spots to #5 as it continues to aggressively hire local talent. Tanner De Witt is a new entrant this year, slotting in at #15 with 10 partners and 16 other lawyers.
The Hong Kong International table fea-tures many changes as a plethora of firms continue to actively recruit talent from their competitors. Mayer Brown JSM (195) retains its top spot, adding more than 20 lawyers to its
CONTINUED FROM PAGE 34
CONTINUED ON PAGE 38
In Hong Kong, a healthy flow ofM&A, IPO and other transactionalwork is creating more work for the
legal industry, causing many firms tobeef up their corporate and capital
markets practices.
NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.*Total No. of lawyers is the total number of partners and associates, as well as other counsel, consultants and foreign counsel. Paralegals, trainees and pupils
COVER STORY 37WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business
2015RANK
FROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Nishimura & Asahi 98 332 480
2 +1 Mori Hamada & Matsumoto 100 263 363
3 +2 Anderson Mori & Tomotsune 112 209 362
4 = Nagashima Ohno & Tsunematsu 89 205 324
5 -3 TMI Associates 67 249 324
6 = City-Yuwa partners 43 70 136
7 = Oh-Ebashi LPC & Partners 41 51 118
8 = Atsumi & Sakai 49 47 108
9 = Kitahama Partners 32 45 86
10 = Nakamura & Partners 36 42 81
JAPAN DOMESTIC2015
RANKFROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Baker & McKenzie 49 75 160
2 = Morrison & Foerster 38 47 110
3 +2 Jones Day 15 31 56
4 = White & Case 14 34 54
5 +1 Clifford Chance 7 27 52
6 +1 Herbert Smith Freehills 9 31 40
7 +3 Squire Patton Boggs 12 21 35
8 = Linklaters 6 25 33
9 +2 Orrick, Herrington & Sutcliffe 10 20 30
10 +5 Freshfields Bruckhaus Deringer 5 17 30
11 -2 Hogan Lovells 6 22 28
12 = Ashurst 6 19 26
13 = K&L Gates 9 10 19
14 NEW Allen & Overy 6 12 19
15 -1 DLA Piper 4 13 17
JAPAN INTERNATIONAL
COVER STORY38 ASIAN LEGAL BUSINESSNOVEMBER 2015
offices since mid-2014. Clifford Chance (168) claims the #2 spot in the table this year, ahead of Baker & McKenzie (162). Clyde & Co (48) and Simmons & Simmons (43) are the new entrants, as well as Zhong Lun Law Firm, which merged with its Hong Kong associate firm Boughton Peterson Yang Anderson in March this year.
The Japan Domestic table reveals some movement among the ‘Big Five’ Japanese firms this year. Nishimura & Asahi still
stands as the largest law firm in Japan with 480 lawyers, 13 more than in 2014. Mori Hamada & Matsumoto (363) climbs one place in the table to clinch second, while TMI Associates (324) drops three spots to #5. Of note is the rise of Anderson Mori & Tomotsune (362) to #3 this year. The firm was buoyed by the integration of its business with Bingham McCutchen Tokyo, with about 50 of the now-defunct U.S. firm’s lawyers joining the Japanese firm in April. With more than 60 lawyers
added to Anderson Mori’s Asian offices in the past 12 months, the firm rises seven spots in the Asia Top 50 table to #26.
The ‘Big Five’ Japanese firms feature in the Asia Top 50 table, with several firms opening new offices since September last year. Anderson Mori opened in Ho Chi Minh City and established a Jakarta desk in May this year, while Nagashima Ohno & Tsunematsu launched a Hanoi office in April. Mori Hamada set up shop in Bangkok and Nagoya in April and September, re-spectively, while Nishimura & Asahi entered into an association with Indonesian firm Rosetini & Partners in November 2014.
The top two international firms in Japan remain unchanged from last year, with Baker & McKenzie (160) and Morrison & Foerster (110) both boasting offices with more than 100 lawyers. Jones Day (56) jumps two places to #3, while Squire Patton Boggs (35) and Freshfields Bruckhaus Deringer (30) climb three and five spots, respectively. Bingham McCutchen exits the table after being absorbed by Morgan Lewis & Bockius
nishimura & Asahi still stands as the largestlaw firm in Japan with 480 lawyers, 13 more thanin 2014. Mori Hamada & Matsumoto (363) climbs
one place in the table to clinch second, whileTMI Associates (324) drops three spots to #5.
CONTINUED FROM PAGE 36
CONTINUED ON PAGE 40
作为中国规模最大的综合性律师事务所之一,国浩始终走在中国法律服务市场的前沿,并确立了
在各个法律服务领域里的市场地位。携手国浩,将助于您取得更大的成功!
As one of the largest full-service law firms in China, Grandall is always on the leading edge of China’s legal market, and maintains significant market presence in various practice areas. Grandall will be a smart choice leading you to greater success.
• 证券与资本市场 Securities and Capital Markets • 投资与并购 Investment/M&A
• 银行与融资 Banking and Finance • 保险 Insurance
• 私募股权与风险资本 Private Equity and Venture Capital • 一般商事法律 General Business Law
• 国际贸易 International Trade • 知识产权 Intellectual Property
As one of the largest full-service law firms in China, Grandall is always on the leading edge of China’s legal market, and maintains significant market presence in various practice areas. Grandall will be a smart choice leading you to greater success.
• 证券与资本市场 Securities and Capital Markets • 投资与并购 Investment/M&A
• 银行与融资 Banking and Finance • 保险 Insurance
• 私募股权与风险资本 Private Equity and Venture Capital • 一般商事法律 General Business Law
• 国际贸易 International Trade • 知识产权 Intellectual Property
COVER STORY 39WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business
2015RANK
FROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Kim & Chang 120 N/A >1,200
2 = Lee & Ko 143 367 510
3 = Bae, Kim & Lee 166 242 410
4 = Shin & Kim 150 196 387
5 = Yulchon 127 178 369
6 = Yoon & Yang 115 165 315
7 = Barun Law N/A N/A 190
8 = Jipyong 52 62 152
9 = DR & AJU 50 65 130
10 = Hwang Mok Park 49 31 94
SOUTH KOREA DOMESTIC2015
RANKFROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Cleary Gottlieb Steen & Hamilton 2 12 15
2 +2 Herbert Smith Freehills 2 4 7
3= -1 Paul Hastings 4 2 6
3= +6 Ropes & Gray 4 2 6
5 -2 Clifford Chance 1 3 6
6= -1 Simpson Thacher & Bartlett 1 4 5
6= = Baker & McKenzie 1 3 5
8 -2 Sheppard, Mullin, Richter & Hampton 3 1 4
9 NEW Linklaters 2 2 4
10 -4 Covington & Burling 1 1 4
SOUTH KOREA INTERNATIONAL
NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.*Total No. of lawyers is the total number of partners and associates, as well as other counsel, consultants and foreign counsel. Paralegals, trainees and pupils
As Korea’s leading global law firm, Kim & Chang continues to deliver innovative solutions to our clients’ most complex legal challenges.
Unrivaled Expertise and Global Reach
KOREA’S PREMIER LAW FIRM
www.kimchang.com
COVER STORY40 ASIAN LEGAL BUSINESSNOVEMBER 2015
2015RANK
FROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Lee and Li 60 384 444
2 +3 Baker & McKenzie 33 33 66
3 -1 Formosa Transnational 20 43 63
4 +2 LCS & Partners N/A N/A 62
5 -2 Tsar & Tsai 23 36 59
6 -2 Chien Yeh Law Offices 15 31 59
7 = Formosan Brothers 15 20 37
8 = Deep & Far N/A N/A 35
9 = Jones Day 6 9 26
10 = Lee, Tsai & Partners 8 12 25
TAIWAN
in November last year.
With more than 1,200 lawyers, Kim & Chang stands as the largest firm in Korea, as well as the largest non-Chinese firm in Asia. The Korea Domestic table remains unchanged from last year, with Lee & Ko (510), Bae, Kim & Lee (410), Shin & Kim (387) and Yulchon (369) making up the rest of the top five largest firms.
Korea’s signing of Free Trade Agreements with the EU in July 2011 and the U.S. in March 2012 opened up the Korean legal market to American and European law firms. Since then, more than 25 international law firms have launched offices in Seoul, with
NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.*Total No. of lawyers is the total number of partners and associates, as well as other counsel, consultants and foreign counsel. Paralegals, trainees and pupils
CONTINUED FROM PAGE 38 several more waiting on the sidelines. To reflect this trend, the report features a Korea International table for the second year running. Most of the office sizes in Seoul are small, as the international law firms are subject to certain restrictions that remain in force until Korea’s legal market completely opens up to European firms in July 2016 and U.S. firms in March 2017. As the Korean legal market moves closer to full liberalisation, more international firms are expected to set up shop in Seoul, and existing firms are likely to bolster their prac-tices, with some even considering mergers and alliances with domestic firms.
Cleary Gottlieb Steen & Hamilton has the
largest international practice in Korea with 15 lawyers. Just three lawyers separate the second and tenth positions on the table. Herbert Smith Freehills climbs two spots to #2 with seven lawyers, while Covington & Burling slips four places to #10 with four lawyers. Ropes & Gray ascends six spots in the table to #3, tied with Paul Hastings with six lawyers including four partners based in Seoul.
With 444 lawyers, Lee and Li keeps its spot as the largest firm in Taiwan, and is the only Taiwanese firm in the Asia Top 50 table. Baker & McKenzie (66) jumps three spots to #2, while Formosa Transnational (63) falls one place to #3.
Korea’s signing of Free TradeAgreements with the EU in July 2011and the U.s. in March 2012 opened
up the Korean legal market toAmerican and European law firms.
since then, more than 25international law firms have launched
offices in seoul, with several morewaiting on the sidelines.
COVER STORY 41WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business
SOUTH/SOUTHEAST ASIASouth/Southeast Asia is a region with high growth potential. The Association of Southeast Asian Nations (ASEAN) region is poised for economic expansion, with the integration of the 10 ASEAN members into the ASEAN Economic Community (AEC) expected to launch by the end of 2015. The AEC, which will create a trading bloc of more than 600 million people with a GDP exceeding $5.6 trillion, seeks to relax capital-flow restrictions and promote the free movement of goods, services and labour within the region. This initiative is likely to provide lucrative opportunities for legal work, particularly in areas such as financial services, telecoms, real estate, projects and consumer goods.
India’s growth remains steady, and its prime minister, Narendra Modi, whose political party emerged victorious in last year’s elections, has vowed to revive the country’s economic development. Energy and natural re-
2015RANK
FROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Ali Budiardjo, Nugroho, Reksodiputro 15 86 112
3 =Romulo Mabanta Buenaventura Sayoc & De Los Angeles
45 48 95
4 = Picazo Buyco Tan Fider & Santos 25 30 56
5 = Quisumbing Torres 19 32 51
6 =Castillo Laman Tan Pantaleon & San Jose Law Offices (CLTPSJ)
22 26 50
7 +1 Siguion Reyna Montecillo & Ongsiako 27 19 47
8 +1 V&A Law 14 31 45
9 -2 Puno & Puno Law Offices 14 28 42
10 = PJS Law Firm 12 15 27
PHILIPPINES
COVER STORY 43WWW.LEGALBUsInEssOnLInE.COM: @ALB_Magazine : Connect with Asian Legal Business
sources, IT, manufacturing, financial services and healthcare have been hot sectors for M&A, with several notable deals in the pipeline. Despite the split of Amarchand & Mangaldas & Suresh A Shroff & Co into two firms in May, the new firms, Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas & Co, are already establishing themselves as heavyweights. With 605 lawyers, Cyril Amarchand Mangaldas is the largest law firm in India, while Shardul Amarchand Mangaldas (370) enters the table in third. Khaitan & Co (415) retains its #2 position, while AZB & Partners (320) climbs one spot to #4, displacing J. Sagar Associates (306). Kochhar & Co (178) jumps eight places to #8, having added more than 60 lawyers to its ranks over the past 12 months.
With 112 lawyers, including 15 partners, Ali Budiardjo, Nugroho, Reksodiputro ce-ments its standing as the largest law firm in Indonesia. Hadiputranto, Hadinoto & Partners (103) and Assegaf Hamzah & Partners (96) retain their second and third spots in the table, respectively. Hiswara Bunjamin & Tandjung (89) enters the ta-ble in fourth, while fellow new entrants ZICOlaw (30) and Arfidea Kadri Sahetapy-Engel Tisnadisastra (30) feature in the #13 and #14 positions, respectively.
Zaid Ibraham & Co is the largest law firm in Malaysia, with 172 lawyers, including 49 partners. Lee Hishammuddin Allen & Gledhill (107) climbs one spot to #2 this year, edging ahead of Shearn Delamore &
NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.*Total No. of lawyers is the total number of partners and associates, as well as other counsel, consultants and foreign counsel. Paralegals, trainees and pupils
2015RANK
FROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Allen & Gledhill 143 222 367
2 = Rajah & Tann 144 190 334
3 = WongPartnership 100 202 302
4 = Drew & Napier 87 122 275
5 = Rodyk & Davidson 85 101 193
6 +1 Shook Lin & Bok 34 62 96
7 -1 Morgan Lewis Stamford 17 56 75
8 = RHTLaw Taylor Wessing 28 38 73
9 +1 Colin Ng & Partners 17 32 49
10 NEW Bird & Bird ATMD 15 27 43
SINGAPORE DOMESTIC2015
RANKFROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 = Baker & McKenzie.Wong & Leow 25 71 96
2 NEW Withers KhattarWong 32 35 76
3 -1 Clifford Chance 21 45 76
4 = Norton Rose Fulbright 24 48 72
5 -2 Allen & Overy 13 44 66
6 -1 Linklaters 9 39 52
7 = Watson, Farley & Williams 15 30 45
8 -2 Herbert Smith Freehills 11 30 45
9 -1 Ashurst 12 30 42
10 -1 Hogan Lovells 11 31 42
11 +5 Clyde & Co 14 17 37
12 -1 Latham & Watkins 11 25 36
13 +1 Jones Day 12 15 32
14 -4 White & Case 12 19 31
15 -4 Holman Fenwick Willan 11 19 30
16 -3 Pinsent Masons 10 15 25
17 +4 Milbank, Tweed, Hadley & McCloy 6 18 26
18 -3 Stephenson Harwood 8 16 26
19 -2 Sidley Austin 9 12 25
20 -2 Berwin Leighton Paisner 7 13 20
21 -1 Shearman & Sterling 5 14 20
22 = K&L Gates 7 10 18
23= +1 Reed Smith 9 6 17
23= NEW King & Spalding 9 7 17
25 NEW DLA Piper 5 9 14
SINGAPORE INTERNATIONAL
With 367 lawyers, Allen & Gledhill takes the crownas the largest firm in singapore for the third
consecutive year. While Rajah & Tann features as thesecond largest firm in singapore, it is the largest
singaporean firm in the Top 50 Asia table, due to itssizeable presence in other parts of Asia. It now boasts430 lawyers in Asia, and moves up one spot to #19 in
the Top 50 Asia table. WongPartnership (302), Drew &napier (275) and Rodyk & Davidson (193) claim the #3,
#4 and #5 spots, respectively.
CONTINUED FROM PAGE 41
COVER STORY44 ASIAN LEGAL BUSINESSNOVEMBER 2015
Co (106) by one lawyer. Wong & Partners (74) and Raja, Darryl & Loh (65) both jump two places up the table to #7 and #9, respectively.
In the Philippines, SyCip, Salazar, Hernandez & Gatmaitan is once again the largest law firm with 149 lawyers. ACCRALAW (127), Romulo Mabanta Buenaventura Sayoc & De Los Angeles (95), Picazo Buyco Tan Fider & Santos (56) and Quisumbing Torres (51) make up the rest of the largest five firms in the Philippines. Siguion Reyna Montecillo & Ongsiako (47) and V&A Law (45) both climb one spot, while Puno & Puno Law Offices (42) drops two places to #9.
Although business activity in Singapore has been relatively flat in 2015, many ex-pect deal flow and opportunities for legal work to pick up in 2016, especially as the AEC starts to promote greater economic integration. With 367 lawyers, Allen & Gledhill takes the crown as the largest firm in Singapore for the third consecutive year. Close behind is Rajah & Tann with 334 lawyers, including 144 partners in
NOTE: In the instance where a law firm did not make a submission, figures were obtained either from the firm’s website, an official Law Society resource, or from last year’s submission.*Total No. of lawyers is the total number of partners and associates, as well as other counsel, consultants and foreign counsel. Paralegals, trainees and pupils
Singapore. While Rajah & Tann features as the second largest firm in Singapore, it is the largest Singaporean firm in the Top 50 Asia table, due to its sizeable presence in other parts of Asia. The firm has expanded its presence in Southeast Asia, bolster-ing its offices in Vietnam and Thailand, among others. It now boasts 430 lawyers in Asia, and moves up one spot to #19 in the Top 50 Asia table. WongPartnership (302), Drew & Napier (275) and Rodyk & Davidson (193) claim the #3, #4 and #5 spots, respectively.
With 96 lawyers, Baker & McKenzie.Wong & Leow is the largest international firm in Singapore. Withers (76) enters the table in second place after it forged a Formal Law Alliance with KhattarWong in April, with the latter’s entire partner-ship joining the international firm. Clifford Chance (76) drops down to #3, while Norton Rose Fulbright (72) stands firm at #4, hav-ing added nine lawyers to its ranks since September 2014. King & Spalding (17) and DLA Piper (14) enter the Singapore table this year, at the expense of Freshfields
Bruckhaus Deringer and Gibson, Dunn & Crutcher.
In Thailand, Tilleke & Gibbins claims the top spot with 101 lawyers, displacing Siam Premier International Law Office (98). Baker & McKenzie (82) retains its #3 posi-tion, while Weerawong C&P (63) jumps two places to #4. Rajah & Tann (44) continues its expansion drive in Asia, with the firm entering the Thailand table in seventh. Watson Farley & Williams (Thailand) is also a new entrant with 30 lawyers.
Despite uncertainties over a slowdown in growth in Asia, Vietnam has made sev-eral changes to its legal and regulatory landscape in the hopes of encouraging investment and M&A activity in the region. Vision & Associates remains in the top spot in Vietnam, with 79 lawyers – 16 more than in 2014. VILAF (56) and YKVN (55) hold on to the #2 and #3 places, respectively, while LNT & Partners (42) jumps up three spots to #4. This year, ALB has extended the table from 10 to 15 firms, resulting in a number of new entrants, including PBC Partners & RHTLaw (22).
2015RANK
FROM2014 FIRM PARTNERS ASSOCIATES TOTAL NO.
OF LAWYERS*
1 +1 Tilleke & Gibbins 17 84 101
2 -1 Siam Premier International Law Office 22 76 98
3 = Baker & McKenzie 50 30 82
4 +3 Weerawong C&P 11 52 63
5 -1 Siam City Law Offices 10 47 57
6 = LS Horizon Limited 10 40 53
7 NEW Rajah & Tann 13 31 44
8 = DLA Piper 8 33 41
9 = Chandler & Thong-ek Law Offices 11 26 40
10 NEW Watson Farley & Williams (Thailand) 6 24 30