Asia's Top 50 Largest Law Firms
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ASIA’S TOP 50 LARGEST LAW FIRMS RESILIENCE IN A PANDEMIC YEAR PLUS CHARTING INDONESIA’S FINTECH GROWTH WE HEAR FROM SINGAPORE LAW FIRM LEADERS MCI (P) 041/02/2020 OFFSHORE LAW FIRMS ISSN 0219 – 6875 KDN PPS 1867/10/2015(025605) LOOK AHEAD TO 2021 ÷�≤√‘±�·“≥”¢��∞�.pdf 1 2020/8/13 上午9:30 培育商事仲裁法律后备人才 托起未来商事仲裁法律之星 18th CIETAC CUP INTERNATIONAL COMMERCIAL ARBITRATION MOOT COMPETITION Invitation of Judges for the CIETAC Cup Dear Friends and Colleagues in Arbitration, We are pleased to invite you to act as an arbitrator in the 18th CIETAC Cup International Commercial Arbitration Moot Com- petition (“CIETAC Cup”). This year, the oral hearings will be conducted online during 15th-20th November, 2020. CIETAC Cup is organized by China International Economic and Trade Arbitration Commission (“CIETAC”), receiving support from Vis Moot, the ICC, the HKIAC and SIAC. Since 2000, CIETAC Cup has been successfully held 17 C M times. Last year, the 17th CIETAC Cup attracted more than 700 contestants from over 60 prestigious law schools in Y Mainland China, and over 150 arbitrators, lawyers and experts from over 10 countries and regions to seat as judges. CM The CIETAC CUP aims at fostering the study of international commercial arbitration and training future leaders in the MY CY area of alternative dispute resolution by introducing international moot court, improving students’ legal accomplish- CMY ment, publicizing international arbitration and promoting cooperation and exchanges between domestic and foreign K arbitration communities. The CIETAC Cup is the first official Pre-Moot of the Willem C. Vis Commercial Arbitration Moot Court, using the same set of case and arbitration rules. The competition is in English. Those of you who Have interest in international commercial arbitration moot competition; Have relevant experience in international commercial arbitration, and are able to handle English cases profes- sionally; and Would like to perform the duty earnestly and diligently as an arbitrator during the competition. are welcome to be the 18th CIETAC Cup Arbitrator (Judge). Please visit moot.cietac.org to register and find the calendar of events. If you have any inquiry, please feel free to email us at [email protected]. We hereby sincerely invite you to join us this year and look forward to seeing you online this November. Yours, China International Economic and Trade Arbitration Commission Website: moot.cietac.org CONTENTS 28 Playing catch-up has consistently 28 past several months COVER STORY faced change Playing catch-up to embrace change BRIEFS each year, as new Fintech in Indonesia and transform 20 technology appears is rapidly growing, themselves, and as 3 ALB Asia Top 50 and economic buoyed by a young a result, are well- The Briefing Largest Law Firms and political population, quick placed to tap into the 2020 developments impact Internet adoption, potential of the year 4 The coronavirus work. and innovative ahead. Forum pandemic will Rankings by ALB, text new businesses. doubtlessly impact by Elizabeth Beattie However, lawyers 39 6 the global legal say that policies and Law Awards Explainer market for many regulations need coverage years to come. FEATURES to keep up with Winners, photos 7 While in the past, this growth, so as and more from the Appointments the addition of 14 to ensure business ALB SE Asia Law new headcount The Singapore innovation continues Awards 2020 and the 8 has been viewed dialogue and customers are ALB Indonesia Law Q&A as a key metric of With a most unique not left out in the Awards 2020. growth, during year winding to cold. 11 the uncertainty of a close, law firm 48 Deals 2020, retaining leaders in Singapore 32 ALB Asia talent, adapting look back on some Onwards, upwards Who’s Who 2020 13 smartly, harnessing of the lessons they COVID-19 has Profiles of key League Tables technology and learnt, and also impacted the legal law firms across flexibility are winning the ways they put industry globally, Asia, including Plus: signs. But while both clients and and offshore law their practice area - CIETAC the pandemic may employees in focus firms have not been strengths, notable - Walkers be the headline, during a difficult immune. However, lawyers and contact the legal market time. they have used the information. WWW.LEGALBUSINESSONLINE.COM ASIAN LEGAL BUSINESS – NOVEMBER 2020 1 Does size really matter? It is a question we are asked – and we ask ourselves – whenever we begin to compile our annual Asia Top HEAD OF LEGAL MEDIA BUSINESS, 50 rankings. The short answer is not always; when ASIA & EMERGING MARKETS it comes to the quality of a firm, and the standard of Amantha Chia services it provides, size is not always the best indicator. [email protected] Smaller firms have their unique advantages in that MANAGING EDITOR they can be nimble and flexible, and offer, in some Ranajit Dam cases, closer, more personalized attention to their [email protected] clients as compared to their larger counterparts. Larger firms come with issues of their own – keeping a large JOURNALIST workforce happy and engaged is just Elizabeth Beattie one of them – and I personally know a [email protected] number of lawyers who have swapped EDITORIAL ASSISTANT a 100-lawyer firm for a 10-lawyer outfit Aparna Sai and have been more satisfied as a result. [email protected] But size can be – and please note COPY & WEB EDITOR the use of can – an indicator of not just the breadth of services provided by Rowena Muniz [email protected] the firm, but also how well it is doing in a specific market. Success usually SENIOR DESIGNER leads to expansion, and an established John Agra brand showing stable growth can be [email protected] an attractive destination for younger TRAFFIC/CIRCULATION MANAGER attorneys. Clients are also left happier Rozidah Jambari with the “one-stop-shop” that has all [email protected] the answers as opposed to firm that has some of the answers, and then refers SALES MANAGERS you elsewhere for others. Geographical Amy Sim reach is also a bonus. So, despite the Sales Director, SE Asia, India and Japan (65) 6870 3348 caveats mentioned in the previous [email protected] paragraph, size does have its undeni- Felix Cheng RANAJIT DAM able advantages, and it is those that we celebrate in Sales Manager (852) 2843 6943 Managing Editor, our list of Asia’s largest firms. [email protected] Asian Legal Business Apart from the ALB Top 50 list, we also have Thomson Reuters Krupa Dalal several other very topical features. These include an Sales Manager article on how Indonesia’s booming fintech scene (91) 22 6189 7087 needs an enlightened regulatory approach to help [email protected] it grow, offshore lawyers’ predictions for 2021 and a Romulus Tham Delegate Sales Executive managing partner roundtable featuring Singapore law (65) 6870 3035 firm leaders. We hope you enjoy reading this issue, and [email protected] do not hesitate to contact me or my team if you have Steven Zhao any questions or suggestions. Account Manager (86) 10 6627 1360 [email protected] Yvonne Cheung Sales Director, Key Accounts and South China (852) 2847 2003 [email protected] SENIOR EVENTS MANAGER Julian Chiew Asian Legal Business is available by subscription. Please visit www.legalbusinessonline.com for details. [email protected] Asian Legal Business has an audited average circulation of 11,402 as of 30 September 2016.Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as Asian Legal Business AWARDS MANAGER can accept no responsibility for loss. MCI (P) 041/02/2020 Caryl Aquino ISSN 0219 – 6875 [email protected] KDN PPS 1867/10/2015(025605) Thomson Reuters 18 Science Park Drive Singapore 118229 / T (65) 6775 5088 / F (65) 6333 0900 10/F, Cityplaza 3, Taikoo Shing, Hong Kong / T (852) 3762 3269 www.thomsonreuters.com 2 ASIAN LEGAL BUSINESS – NOVEMBER 2020 WWW.LEGALBUSINESSONLINE.COM THE BRIEFING: YOUR MONTHLY NEED-TO-KNOW SG LAUNCHES IN THE NEWS ROADMAP FOR UK consultant lawyer firm nexa law has launched a virtual GC platform that brings together LEGALTECH former GCs. The nexaGC platform 77% - Percentage of “stand-out lawyers” aims to assist businesses that are who say that when it comes to remote Singapore’s Ministry of Law growing rapidly but are unable working, the number one challenge to the (MinLaw) has unveiled the Legal firm’s bottom line is difficulty in developing to justify the cost of establishing business, according to a survey by Acritas. Industry Technology and Innovation their own in-house legal Roadmap (TIR) to assist the legal departments or of hiring firms profession in adopting technology. for the service. The TIR aims to “promote innovation, technology adoption and SUCCESSFUL LAW FIRMS development in Singapore’s legal industry in the next decade,” MinLaw UNDERSTAND THEIR said in a press release. Catering to 63 PERCENT CLIENTS’ BUSINESS both law firms and in-house legal departments, the TIR “highlights The 2020 Dynamic Law Firms key trends that industry players Increase in Asia-Pacific mergers and Report, produced by Thomson should be aware of in deciding how acquisitions in Q3 of this year, according to Reuters Peer Monitor with best to forge ahead amidst a time Refinitiv data. The surge was driven by technology companies and conglomerates key insights from Acritas, finds of disruption and uncertainty.” The making strategic moves as they emerge that the most successful firms TIR also offers practical advice on from the pandemic. in terms of revenue per lawyer, the types of solutions that can assist overall firm profit, and average these players in mapping out their profit margin, are more likely tech adoption plan.