:" +- t, ~ The Australian financial Review ~. ~~' ~ , www.afr.com.Friday 16 November 2012 ~ .- ,," ~:-:;i_d' 3l~

Legal Affairs Edited by: [email protected] Breaking news at www.afr.com

Norton Rose and UB,firm~titt, '~~~: - ¿-:~ .~, *~.;~~:;~:: the knot. -- f .. -'d, Claire Stewart However, some practitioners have Buflding bèhèínöths reservations about the benefits. Norton Rose has planted its flag Global firm èìimparison 2011 Marque managing partner firmly in American soil after con- Michael Bradley said cultural differ- firming rumours that it wil merge ences can make global links diffcult. with Texas-based energy and B.aker McKenzie ",l$VS.?3lbn 4004 "(Such firms) pick up work from resources specialist Fulbright & -- multinational clients in that network, DLA-Piper ",' :~' $US2.24bn 3746 Jaworski next June. ;. but it mayor may not be a good thing The deal was spearheaded by Nor- 'c $US2.09bn 2518 because they also cut themselves out ton Rose, which has made no secret it (with Chang Pistili from other relationships overseas." _~~Simmons) ,:¡:~ is on the expansion traiL, merging Prominent local firm AlIens wit Canadian firms Ogilvy Renault - $US1.93bn 2151 joined with Linklaters in May and and Macleod Dixon and South Mri- (now with Aliens) was promptly dropped as Australian can firm Deneys Reitz in 2010. Jones Day .?4~07 firm of choice for Linklaters rival Expected to boost annual revenue $US1.65bn Allen & Overy . by about $US600 millon, the inte- $US1.89bn 2330 Mr Bradley said mergers did not gration wil propel Norton Rose Ful- Norton Rose (now $US1.2bn 2216 necessarly bring together firms with bright into the top-10 firms in the with Fúlbright) equal levels of expertise, making it world, with forecast earnings of Freehils (now with $US584m 953 diffcult for merged firms to marr about $USL.9 bilion next year. ) their expertise and areas of practice. The Australian arm which until Ashurst (now with $US516m 816 "A lot of time wil be spent in meet- 2010 was mid-tier firm Deacons, Blake Dawson) ings tryng to make something that is won't be sharing in the profits. All Joining force... Norton Rose Austalia's Wayne Spanner. Photo: TOMASZ MACHNIK SOURCE, AMERICAN LAWYER. FINACiAl REVIEWquite disparate look... homogenous. Norton Rose offices maintain sepa- I stand back from that and wonder, rate operational and financial man- are taking the lead by joining with Piper and Herbert Smith Freehils Piper merged with DLA Phillps Fox. what's the point?" he said agements, in accord with the Swiss Fulbright & Jaworski to deliver our have all made the tie-up between Aus- Australian managing partner Tony The opportunity for firms to lift Verein structure the firm uses. clients quality US law capability," tralia and the US. King & Wood Holland said yesterday that it takes their profie and rebrand is another Norton Rose Australia managing Mr Spanner said Mallesons is also on the hunt for a time to integrate operationally perceived benefit, such as when Dea- partner Wayne Spanner said the "Many of our Australian clients suitable partner to spearhead its US across a global platform cons moved into a top-tier arena by move makes it one of the only firms want a firm that can provide global expansion plans. Middletons has The benefits of linking globally joining up with Norton Rose. in Australia to have a significant I legal servces. .. By joining with ful- touted a full financial merger with were twofold, Mr Holland said: the "But in the local market, it doesn't presence in the United States. bright & Jaworski we can offer clients K&L Gates while Squire Sanders is move insured guaranteed referrals automatically follow," Mr Bradley L "We were clearly the first mover in serious US law capability from a wide also looking for a Sydney,frm to add from international clients but also an said "Branding is a very long-term the Australian legal market as it (that geographic spread across the US." to its Perth offce. - overseas network to look after Aus- proposition. In the end, reputation is ( market) has gone global Again, we Jones Day, SNR Denton, DLA In 2010, British/S firm DLA tralian clients operating offshore. all about relationships."