Asia's Top Largest Law Firms

ASIAN LEGAL BUSINESS 32 COVER STORY NOVEMBER 2015

TOP 50 INTERNATIONAL LAW FIRMS

2015 FROM TOTAL NO. FIRM HEADQUARTERS PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* 1 = Baker & McKenzie U.S. 296 557 931 ASIA'S TOP 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 LARGEST 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 LAW FIRMS 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 OUR RESEARCH 31 = Squire Patton Boggs U.S. 27 47 83 32 -5 Kirkland & Ellis U.S. 33 42 82 • Firms were contacted in September 33 -9 Orrick, Herrington & Sutcliffe U.S. 23 50 78 2015 and asked to provide partner 34 = Ropes & Gray U.S. 25 50 75 and lawyer numbers across their Asian 35 -2 Paul Hastings U.S. 27 31 73 offices as of Sept. 1, 2015. • ‘Total No. of Lawyers’ refers to the 36 +1 Eversheds UK 22 38 65 total number of partners, associates, 37 -2 Simpson Thacher & Bartlett U.S. 15 48 65 counsel, consultants and foreign counsel. 38 +2 Cleary Gottlieb Steen & Hamilton U.S. 10 50 63 Paralegals, trainees and pupils were not 39 NEW Dentons N/A 12 27 58 included in this figure. • In the instance where a firm did not 40 -4 O'Melveny & Myers U.S. 15 22 57 make a submission, figures were 41 = Slaughter and May UK 13 >40 >53 obtained either from the firm’s website, 42 = Ince & Co UK 16 26 51 an official Law Society resource, or from 43 +3 Milbank, Tweed, Hadley & McCloy U.S. 13 35 51 last year’s submission. 44 -6 Duane Morris & Selvam U.S. 18 19 44 • The research did not include Australia and New Zealand. Only lawyers and 45 -1 Berwin Leighton Paisner UK 16 26 42 partners based in Asia were taken into 46 NEW Winston & Strawn U.S. 17 14 39 account for this research. 47 +1 Minter Ellison Australia 14 N/A >37 • In the instance where two firms had the 48 -1 Sullivan & Cromwell U.S. 8 26 37 same number of total lawyers, the firm with the greater number of partners 49 NEW Troutman Sanders U.S. 9 27 36 was ranked higher. 50 -1 Weil, Gotshal & Manges U.S. 10 16 32

As the global economy continues its steady TOP 50 ASIAN LAW FIRMS recovery, Asia is fast becoming the epi-

2015 FROM TOTAL NO. centre of growth. Asian companies are FIRM HEADQUARTERS PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* ramping up their outbound activity, and 1 +1 Dacheng Law Offices China 1197 1015 4311 a number of initiatives like the ASEAN 2 -1 Beijing Yingke Law Firm China 1056 2164 3220 Economic Community and the One Belt, 3 = Zhong Yin Law Firm China 222 999 1221 One Road project are in motion, with the 4 +3 Kim & Chang South Korea 120 N/A >1,200 goal of boosting economic cooperation 5 +1 DeHeng Law Offices China 373 485 1182 and connectivity in the region. According 6 +3 AllBright Law Offices China 307 777 1084 to Thomson Reuters data, announced M&A 7 -2 Grandall Law Firm China 280 720 1000 activity with any Asian involvement (ex- 8 = Zhong Lun Law Firm China 220 780 1000 cluding Japan) in the first nine months of 2015 reached an all-time high of $829.7 9 -5 King & Wood Mallesons China/Australia 274 213 696 billion, a whopping 61 percent jump over 10 +8 Guanghe Law Firm China 141 256 645 the $515.2 billion in that period last year. 11 = Long An Law Firm China 202 413 615 Asia’s growth is certainly creating busi- 12 NEW Cyril Amarchand Mangaldas India 90 463 605 ness opportunities and stimulating demand 13 NEW Tian Yuan Law Firm China 78 >500 >578 for legal services in the region. The past 14 -1 Nishimura & Asahi Japan 102 363 522 12 months alone have seen a wave of law 15 = Lee & Ko South Korea 143 367 510 firm mergers and alliances, new office 16 +3 Beijing DHH Law Firm China 70 64 471 openings, and the expansion of existing 17 = Tahota Law Firm China 81 387 468 Asian offices through lateral hires, internal 18 +3 Lee and Li Taiwan 60 384 444 promotions and relocations. These trends 19 +1 Rajah & Tann Singapore 173 257 430 are reflected in our domestic and interna- 20 -4 Bae, Kim & Lee South Korea 170 254 424 tional firm tables featured in this report. 21 NEW Sichuan Mingju Law Firm China 52 369 421 For the second year running, in order to 22 +3 Khaitan & Co India 101 314 415 widen the scope of the research and offer a more comprehensive overview of the 23 +5 Guantao Law Firm China 92 315 414 legal market in Asia, ALB has separated 24 -10 Zhong Lun W&D Law Firm China 207 196 403 Asia’s Top 50 Largest Law Firms list into 25 -3 Shin & Kim South Korea 153 197 391 two tables: “Top 50 International Firms” 26 +7 Anderson Mori & Tomotsune Japan 117 215 380 and “Top 50 Asian Firms”. 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 ASIA'S TOP 50 31 +8 Fangda Partners China 63 294 357 32 -20 JunHe China 186 150 353 While the past 12 months have seen some 33 -9 TMI Associates Japan 71 282 353 international firms scale back operations – 34 -2 Nagashima Ohno & Tsunematsu Japan 93 209 343 and in a few cases, pull out of Asia entirely 35 +12 Jincheng Tongda & Neal China 126 213 339 – the majority of firms continue to invest 36 +7 AZB & Partners India 60 260 320 heavily in their Asian operations. Several 37 -7 Yoon & Yang South Korea 115 165 315 international law firms have strengthened their Asian presence, expanding out of 38 -2 WongPartnership Singapore 103 206 309 the financial centres of Hong Kong and 39 -5 J. Sagar Associates India 75 211 306 Singapore, and into jurisdictions like Japan, 40 NEW King & Capital China 97 58 300 Korea and Indonesia. 41 -4 Jingtian & Gongcheng China 83 208 291 U.S. law firms account for 27 of the 50 42 +2 Hylands Law Firm China 70 200 280 largest international firms in Asia, though 43 -1 Global Law Office China 60 220 280 only three feature in the top ten. Meanwhile, 44 -6 Drew & Napier Singapore 87 122 278 UK firms make up 18 of the 50 largest 45 -16 Luthra & Luthra India 54 220 274 international firms in Asia, with four in 46 -6 ZICOlaw Malaysia 69 200 273 the top ten. Firms with joint headquarters 47 NEW Jointide Law Firm China 121 79 266 like DLA Piper (UK/U.S.), Hogan Lovells 48 NEW Gaopeng & Partners China 65 155 220 (UK/U.S.) and Herbert Smith Freehills (UK/ 49 -8 Deacons Hong Kong 52 148 213 Australia) also feature in the top ten. With 50 NEW Zhongzi Law Office China 41 167 208 931 lawyers, Baker & McKenzie takes the crown for the second year running as the

*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 ASIAN LEGAL BUSINESS 34 COVER STORY NOVEMBER 2015

CHINA DOMESTIC CHINA INTERNATIONAL

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS*

1 +1 Dacheng Law Offices 1197 1015 4311 1 +3 Clifford Chance 11 36 88

2 -1 Beijing Yingke Law Firm 1053 2150 3203 2 -1 Baker & McKenzie 20 53 82

Freshfields Bruckhaus 3 = Zhong Yin Law Firm 222 999 1221 3 +2 5 N/A >60 Deringer 4 +1 DeHeng Law Offices 373 485 1182 4 -2 Hogan Lovells 13 47 60 5 +3 AllBright Law Offices 306 776 1082 5 +1 Linklaters 9 32 47 6 +1 Zhong Lun Law Firm 220 780 1000 6 -3 DLA Piper 7 40 47 7 -3 Grandall Law Firm 276 718 994 7 = Pinsent Masons 8 37 45 8 +5 Guanghe Law Firm 141 256 645 8 +4 Jones Day 20 17 39 9 = Long An Law Firm 202 413 615 9 = Mayer Brown JSM 8 30 38 10 NEW Tian Yuan Law Firm 78 >500 >578 10 NEW Clyde & Co 7 17 34 11 -5 King & Wood Mallesons 245 138 550 11 NEW Dentons 5 21 31 12 -1 Zhong Lun W&D Law Firm 207 196 403 12 -2 Herbert Smith Freehills 6 23 29 13 +1 Beijing DHH Law Firm 70 64 471 13 NEW Simmons & Simmons 7 14 27 14 -2 Tahota Law Firm 81 383 464 14 = Norton Rose Fulbright 10 16 26 15 NEW Sichuan Mingju Law Firm 52 369 421 15 +7 Reed Smith 6 7 26 16 -1 Guantao Law Firm 87 305 397 16 -5 Allen & Overy 8 14 25 17 -7 JunHe 186 150 353 17 -9 CMS, China 5 20 25 18 +5 Jincheng Tongda & Neal 126 213 339 18 -3 Sidley Austin 7 13 24 19 = Fangda Partners 59 268 327 19 -2 White & Case 4 15 22

20 NEW King & Capital 97 58 300 Orrick, Herrington & 20 NEW 6 9 20 Sutcliffe 21 -3 Jingtian & Gongcheng 82 208 290 21 -5 Taylor Wessing 4 16 20 22 -2 Global Law Office 60 220 280 22 -9 O'Melveny & Myers 7 4 19 23 -2 Hylands Law Firm 68 200 278 23 -3 Gide Loyrette Nouel 4 15 19 24 NEW Jointide Law Firm 121 79 266 24 -1 K&L Gates 7 10 18 25 NEW Gaopeng & Partners 65 155 220 25 NEW Bird & Bird 5 13 18 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

largest international firm by headcount also features in the table this year at #39, in Asia. UK Magic Circle firms Clifford and is poised to climb higher in next year’s NORTH ASIA Chance and Linklaters retain the second table next year once its mergers with and third spots from last year, with 409 China’s Dacheng Law Offices, Singapore’s With 4,311 lawyers in China, Dacheng Law and 340 lawyers in Asia, respectively. Rodyk & Davidson and Australia’s Gadens Offices displaces Beijing Yingke Law Firm Winston & Strawn and Troutman Sanders are sealed. (3,220 lawyers) as the largest law firm in enter the Top 50 International Law Firms Among Asian firms, Dacheng Law China. Zhong Yin Law Firm (1,221) is the table this year, as well as fellow U.S. firm Offices (4,311 lawyers) clinches the top third-largest firm in China, while DeHeng Morgan Lewis & Bockius, which absorbed spot as the largest firm in Asia, displacing Law Offices (1,182) jumps up one spot Bingham McCutchen in November 2014 and fellow Chinese firm Beijing Yingke Law from last year to fourth. AllBright Law merged with Singaporean firm Stamford Firm. Korean firm Kim & Chang (>1,200) is Offices (1,082) catapults up three spots Law Corporation in April this year. Dentons the only non-Chinese firm in the top ten. to fifth this year, 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 ASIAN LEGAL BUSINESS 36 COVER STORY NOVEMBER 2015

HONG KONG DOMESTIC HONG KONG INTERNATIONAL

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS*

1 = Deacons 52 148 213 1 = Mayer Brown JSM 65 130 195

2 = Woo Kwan Lee & Lo 36 27 78 2 +1 Clifford Chance 36 105 168

3 = Li & Partners 7 44 65 3 -1 Baker & McKenzie 52 86 162

4 = Wilkinson & Grist 25 18 53 4 = Linklaters 23 116 149

5 +2 Howse Williams Bowers 16 25 49 5 +1 King & Wood Mallesons 26 71 138

Freshfields Bruckhaus 6 = P.C. Woo & Co 16 25 44 6 +3 20 42 109 Deringer 7 +2 ONC Lawyers 9 21 39 7 -2 DLA Piper 31 72 103 8 = Gallant Y.T. Ho & Co 17 20 37 8 +2 Herbert Smith Freehills 19 65 92

9 +1 Hastings & Co 14 16 37 Reed Smith Richards 9 -1 26 52 89 Butler 10 +1 Robertsons 15 17 36 10 -3 Allen & Overy 17 26 86 11 +1 Stevenson, Wong & Co 13 18 35 11 +4 Davis Polk & Wardwell 8 66 78 12 +1 Oldham, Li & Nie 11 13 33 12 -1 Sidley Austin 19 47 76 13 +1 Haldanes 15 11 30 13 +1 Stephenson Harwood 18 32 61 14 +1 Smyth & Co 7 15 27 14 -2 Hogan Lovells 20 49 69 15 NEW Tanner De Witt 10 14 26 15 +1 Kirkland & Ellis 28 36 68

16 -3 Norton Rose Fulbright 22 44 66

17 +2 Ashurst 15 45 65

Skadden, Arps, Slate, 18 -1 12 39 62 In Hong Kong, a healthy flow of Meagher & Flom M&A, IPO and other transactional 19 NEW Zhong Lun Law Firm 16 16 50 work is creating more work for the 20 -2 Holman Fenwick Willan 15 33 48 21 NEW Clyde & Co 10 29 48

legal industry, causing many firms to 22 +2 Ropes & Gray 14 32 46 beef up their corporate and capital 23 -2 Latham & Watkins 12 34 46 markets practices. 24 -2 Eversheds 15 25 45 25 NEW Simmons & Simmons 15 28 43

CONTINUED FROM PAGE 34 having added Reed Smith (26) climbs seven spots to also the only Hong Kong outfit to feature more than 100 lawyers to the firm since #15. O’Melveny & Myers falls nine places in the Asia Top 50 table. Woo Kwan Lee & September last year. The China Domestic from #13 to #22, with the firm’s headcount Lo (78), Li & Partners (65) and Wilkinson table also features a number of new en- contracting by 12 lawyers since September & Grist (53) cement their second, third and trants, including Tian Yuan Law Firm 2014. fourth positions, respectively. Meanwhile, (>578), Sichuan Mingju Law Firm (421), In Hong Kong, a healthy flow of M&A, Howse Williams Bowers (49), which was King & Capital (300), Jointide Law Firm IPO and other transactional work is creating established in 2012, climbs two spots to (266), Gaopeng & Partners (220), Zhongzi more work for the legal industry, causing #5 as it continues to aggressively hire local Law Office (208), Han Kun Law Offices many firms to beef up their corporate and talent. Tanner De Witt is a new entrant this (162) and Watson & Band Law Offices (159). capital markets practices. And with a fully year, slotting in at #15 with 10 partners Clifford Chance (88) jumps up three functional Competition Law just around the and 16 other lawyers. places from last year to become the big- corner, some firms have started to form The Hong Kong International table fea- gest international law firm in China, ahead new or bolster existing antitrust practices tures many changes as a plethora of firms of Baker & McKenzie (82), Freshfields through partner relocations and lateral continue to actively recruit talent from Bruckhaus Deringer (>60), Hogan Lovells hires. Deacons retains its status as the their competitors. Mayer Brown JSM (195) (60) and Linklaters (47). Jones Day (39) largest Hong Kong law firm, boasting 213 retains its top spot, adding more than rises four places from #12 to #8, while lawyers, including 52 partners. The firm is 20 lawyers to its CONTINUED ON PAGE 38

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 WWW.LEGALBUSINESSONLINE.COM : @ALB_Magazine : Connect with Asian Legal Business COVER STORY 37

JAPAN DOMESTIC JAPAN INTERNATIONAL

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS*

1 = Nishimura & Asahi 98 332 480 1 = Baker & McKenzie 49 75 160

Mori Hamada & 2 +1 100 263 363 2 = Morrison & Foerster 38 47 110 Matsumoto Anderson Mori & 3 +2 Jones Day 15 31 56 3 +2 112 209 362 Tomotsune 4 = White & Case 14 34 54 Nagashima Ohno & 4 = 89 205 324 Tsunematsu 5 +1 Clifford Chance 7 27 52 5 -3 TMI Associates 67 249 324 6 +1 Herbert Smith Freehills 9 31 40 6 = City-Yuwa partners 43 70 136 7 +3 Squire Patton Boggs 12 21 35 7 = Oh-Ebashi LPC & Partners 41 51 118 8 = Linklaters 6 25 33 8 = Atsumi & Sakai 49 47 108 Orrick, Herrington & 9 +2 10 20 30 Sutcliffe 9 = Kitahama Partners 32 45 86 Freshfields Bruckhaus 10 +5 5 17 30 10 = Nakamura & Partners 36 42 81 Deringer

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 ASIAN LEGAL BUSINESS 38 COVER STORY NOVEMBER 2015

added to Anderson Mori’s Asian offices in the past 12 months, the firm rises seven Nishimura & Asahi still stands as the largest spots in the Asia Top 50 table to #26. The ‘Big Five’ Japanese firms feature in law firm in Japan with 480 lawyers, 13 more than the Asia Top 50 table, with several firms opening new offices since September last in 2014. Mori Hamada & Matsumoto (363) climbs year. Anderson Mori opened in Ho Chi one place in the table to clinch second, while Minh City and established a Jakarta desk in May this year, while Nagashima Ohno TMI Associates (324) drops three spots to #5. & Tsunematsu launched a Hanoi office in April. Mori Hamada set up shop in Bangkok and Nagoya in April and September, respectively, while Nishimura & Asahi entered into an association with Indonesian firm CONTINUED FROM PAGE 36 offices since stands as the largest law firm in Japan Rosetini & Partners in November 2014. mid-2014. Clifford Chance (168) claims with 480 lawyers, 13 more than in 2014. The top two international firms in Japan the #2 spot in the table this year, ahead Mori Hamada & Matsumoto (363) climbs remain unchanged from last year, with of Baker & McKenzie (162). Clyde & Co one place in the table to clinch second, Baker & McKenzie (160) and Morrison & (48) and Simmons & Simmons (43) are the while TMI Associates (324) drops three Foerster (110) both boasting offices with new entrants, as well as Zhong Lun Law spots to #5. Of note is the rise of Anderson more than 100 lawyers. Jones Day (56) Firm, which merged with its Hong Kong Mori & Tomotsune (362) to #3 this year. jumps two places to #3, while Squire Patton associate firm Boughton Peterson Yang The firm was buoyed by the integration Boggs (35) and Freshfields Bruckhaus Anderson in March this year. of its business with Bingham McCutchen Deringer (30) climb three and five spots, The Japan Domestic table reveals some Tokyo, with about 50 of the now-defunct respectively. Bingham McCutchen exits movement among the ‘Big Five’ Japanese U.S. firm’s lawyers joining the Japanese the table after being absorbed by Morgan firms this year. Nishimura & Asahi still firm in April. With more than 60 lawyers Lewis & Bockius 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！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. As one of the largest full-service law firms in China, Grandall is always on the leading edge Grandall will be a smart choice leading you to greater success. 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

• 证券与资本市场银行与融资 Banking Securities and Finance and Capital Markets • 投资与并购保险 Insurance Investment/M&A • 银行与融资私募股权与风险资本 Banking andPrivate Finance Equity and Venture Capital • 保险一般商事法律 Insurance General Business Law • 私募股权与风险资本国际贸易 International Private Trade Equity and Venture Capital • 一般商事法律知识产权 Intellectual General Property Business Law • 国际贸易竞争法与反垄断 International Competition/Antitrust Trade • 知识产权不动产 Real Intellectual Estate Property • 竞争法与反垄断基础设施与项目融资 Competition/Antitrust Infrastructure and Project Finance • 不动产海事海商 Real Shipping Estate & Marine • 基础设施与项目融资破产清算 Bankruptcy Infrastructure and Project Finance • 海事海商争议解决 ShippingDispute Resolution & Marine • 破产清算 Bankruptcy • 争议解决 Dispute Resolution

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SOUTH KOREA DOMESTIC SOUTH KOREA INTERNATIONAL

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS* Cleary Gottlieb Steen & 1 = Kim & Chang 120 N/A >1,200 1 = 2 12 15 Hamilton

2 = Lee & Ko 143 367 510 2 +2 Herbert Smith Freehills 2 4 7

3 = Bae, Kim & Lee 166 242 410 3= -1 Paul Hastings 4 2 6

4 = Shin & Kim 150 196 387 3= +6 Ropes & Gray 4 2 6

5 = Yulchon 127 178 369 5 -2 Clifford Chance 1 3 6

Simpson Thacher & 6 = Yoon & Yang 115 165 315 6= -1 1 4 5 Bartlett

7 = Barun Law N/A N/A 190 6= = Baker & McKenzie 1 3 5

8 = Jipyong 52 62 152 Sheppard, Mullin, Richter 8 -2 3 1 4 & Hampton 9 = DR & AJU 50 65 130 9 NEW Linklaters 2 2 4

10 = Hwang Mok Park 49 31 94 10 -4 Covington & Burling 1 1 4

KOREA’S PREMIER LAW FIRM Unrivaled Expertise and Global Reach

As Korea’s leading global law firm, Kim & Chang continues to deliver innovative solutions to our clients’ most complex legal challenges.

www.kimchang.com ASIAN LEGAL BUSINESS 40 COVER STORY NOVEMBER 2015

TAIWAN INDIA

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS* Cyril Amarchand 1 = Lee and Li 60 384 444 1 NEW 90 463 605 Mangaldas 2 +3 Baker & McKenzie 33 33 66 2 = Khaitan & Co 101 314 415

3 -1 Formosa Transnational 20 43 63 Shardul Amarchand 3 NEW 70 289 370 Mangaldas & Co 4 +2 LCS & Partners N/A N/A 62 4 +1 AZB & Partners 60 260 320 5 -2 Tsar & Tsai 23 36 59 5 -1 J. Sagar Associates 75 211 306 6 -2 Chien Yeh Law Offices 15 31 59 6 -3 Luthra & Luthra 54 220 274 7 = Formosan Brothers 15 20 37 Lakshmikumaran & 7 -1 39 171 210 8 = Deep & Far N/A N/A 35 Sridharan

9 = Jones Day 6 9 26 8 +8 Kochhar & Co 41 137 178

10 = Lee, Tsai & Partners 8 12 25 9 -2 Desai & Diwanji 17 156 173

10 -2 Trilegal 23 125 172

11 +1 Fox Mandal & Co 36 120 156

12 -2 DSK Legal 12 100 150

13 -2 M.V. Kini & Company 11 139 150 Korea’s signing of Free Trade 14 -5 Wadia Ghandy & Co 33 110 145 Mulla & Mulla & Craigie 15 -2 14 86 122 Agreements with the EU in July 2011 Blunt & Caroe and the U.S. in March 2012 opened 16 -2 Economic Laws Practice 28 91 119 up the Korean legal market to 17 -2 Anand and Anand 19 95 115 Rajani, Singhania & 18 -1 22 70 92 American and European law firms. Partners 19 -1 Vaish Associates 12 78 90

Since then, more than 25 20 -1 Nishith Desai Associates 8 64 72

international law firms have launched 21 -1 HSA Advocates 16 54 70 offices in Seoul, with several more 22 -1 Khaitan Sud & Partners 13 50 65 waiting on the sidelines. 23 -1 Juris Corp 13 51 64 24 +1 Majmudar & Partners 6 50 56

25 NEW Phoenix Legal 8 44 55

CONTINUED FROM PAGE 38 in November several more waiting on the sidelines. To largest international practice in Korea with last year. reflect this trend, the report features a 15 lawyers. Just three lawyers separate the With more than 1,200 lawyers, Kim & Korea International table for the second second and tenth positions on the table. Chang stands as the largest firm in Korea, year running. Most of the office sizes in Herbert Smith Freehills climbs two spots as well as the largest non-Chinese firm in Seoul are small, as the international law to #2 with seven lawyers, while Covington Asia. The Korea Domestic table remains firms are subject to certain restrictions that & Burling slips four places to #10 with unchanged from last year, with Lee & Ko remain in force until Korea’s legal market four lawyers. Ropes & Gray ascends six (510), Bae, Kim & Lee (410), Shin & Kim completely opens up to European firms in spots in the table to #3, tied with Paul (387) and Yulchon (369) making up the July 2016 and U.S. firms in March 2017. As Hastings with six lawyers including four rest of the top five largest firms. the Korean legal market moves closer to partners based in Seoul. Korea’s signing of Free Trade Agreements full liberalisation, more international firms With 444 lawyers, Lee and Li keeps its with the EU in July 2011 and the U.S. in are expected to set up shop in Seoul, and spot as the largest firm in Taiwan, and is March 2012 opened up the Korean legal existing firms are likely to bolster their prac- the only Taiwanese firm in the Asia Top 50 market to American and European law firms. tices, with some even considering mergers table. Baker & McKenzie (66) jumps three Since then, more than 25 international law and alliances with domestic firms. spots to #2, while Formosa Transnational firms have launched offices in Seoul, with Cleary Gottlieb Steen & Hamilton has the (63) falls one place to #3.

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 WWW.LEGALBUSINESSONLINE.COM : @ALB_Magazine : Connect with Asian Legal Business COVER STORY 41

SOUTH/SOUTHEAST ASIA INDONESIA 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES South/Southeast Asia is a region with RANK 2014 OF LAWYERS* high growth potential. The Association of 1 = Ali Budiardjo, Nugroho, Reksodiputro 15 86 112 Southeast Asian Nations (ASEAN) region 2 = Hadiputranto, Hadinoto & Partners 20 83 103 is poised for economic expansion, with the 3 = Assegaf Hamzah & Partners 18 78 96 integration of the 10 ASEAN members into the ASEAN Economic Community (AEC) 4 NEW Hiswara Bunjamin & Tandjung 11 77 89 expected to launch by the end of 2015. 5 -1 Hanafiah Ponggawa & Partners 12 62 74

The AEC, which will create a trading bloc 6 -1 Lubis Ganie Surowidjojo 9 55 64 of more than 600 million people with a 7 -1 Soewito Suhardiman Eddymurthy Kardono (SSEK) 6 47 58 GDP exceeding $5.6 trillion, seeks to relax capital-flow restrictions and promote the 8 -1 Makarim & Taira S. 7 42 50 free movement of goods, services and 9 = Soemadipradja & Taher 8 30 40 labour within the region. This initiative is 10 = Mochtar Karuwin Komar 6 29 38 likely to provide lucrative opportunities for legal work, particularly in areas such as 11 = Melli Darsa & Co 4 30 37 financial services, telecoms, real estate, 12 -4 Makes & Partners 4 30 34 projects and consumer goods. 13 NEW ZICOlaw 4 26 30 India’s growth remains steady, and its Arfidea Kadri Sahetapy-Engel Tisnadisastra (AKSET 14 NEW 4 26 30 prime minister, Narendra Modi, whose Law) political party emerged victorious in last 15 -2 Ginting & Reksodiputro 3 23 29 year’s elections, has vowed to revive the country’s economic development. Energy and natural re- CONTINUED ON PAGE 43

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MALAYSIA PHILIPPINES

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS* SyCip, Salazar, Hernandez 1 = Zaid Ibrahim & Co 49 119 172 1 = 41 82 149 & Gatmaitan Lee Hishammuddin Allen 2 +1 31 74 107 & Gledhill 2 = ACCRALAW 53 74 127

3 -1 Shearn Delamore & Co 52 54 106 Romulo Mabanta 3 = Buenaventura Sayoc & De 45 48 95 Los Angeles 4 = Skrine 37 63 105 Picazo Buyco Tan Fider & 4 = 25 30 56 5 = Zul Rafique & Partners 37 51 90 Santos 5 = Quisumbing Torres 19 32 51 6 = Shook Lin & Bok 25 56 81 Castillo Laman Tan 7 +2 Wong & Partners 17 57 74 6 = Pantaleon & San Jose Law 22 26 50 Offices (CLTPSJ) 8 -1 Azmi & Associates 16 53 69 Siguion Reyna Montecillo 7 +1 27 19 47 & Ongsiako 9 +2 Raja, Darryl & Loh 22 40 65 8 +1 V&A Law 14 31 45 10 -2 Rahmat Lim & Partners 25 36 61 9 -2 Puno & Puno Law Offices 14 28 42 11 -1 Kadir Andri & Partners 18 43 61 10 = PJS Law Firm 12 15 27 12 +1 Christopher & Lee Ong 21 35 57

13 -1 Adnan Sundra & Low 13 38 54

14 +1 Jeff Leong, Poon & Wong 9 35 45

15 -1 Albar & Partners 13 24 37

北京市天元律师事务所创立于1992 年，是中国成立时间最早和规模最大的合伙制律师事务所之一。天元现有合伙人70余名，律师400余名。天元总部在北京，并在上海、深圳、成都设有分所。天元的绝大多数律师获有国内外著名法学院校的硕士、博士学位，其中，很多律师拥有在国际知名律师事务所或公司法律部门多年的工作或学习经历。天元律师能够以普通话、英语、法语、日语提供法律服务。天元一直秉持专业、敬业、勤业的理念，致力于为客户提供高质量、高效率、全方位的法律服务。天元在证券、公司并购、反垄断、资产证券化、保险、知识产权、房地产、争议解决等业务领域处于国内领先地位。近年荣誉： • 1998 年，天元被中华人民共和国司法部评为首批20 家“部级文明律师事务所”之一，总分名列第二。 • 2003 年入选国际权威的律师事务所评价杂志Legal 500 (The Asia Pacific) 评选的在中国领先的若干家律北京市西城区师事务所之一。丰盛胡同28号 • 1998 年至2004 年，天元均被评为“北京市优秀律师事务所”或“人民满意的律师事务所”或“文明律师事务所” 太平洋保险大厦等荣誉称号。 10层, 100032 • 2005 年，天元被中华全国律师协会评为“全国优秀律师事务所”。同时，还有一名律师被评为“全国优秀律师”、一名律师受到全国律协的嘉奖、一名律师被评为“北京市优秀律师”；天元成为当年获奖最多的律师事务所。 www.tylaw.com.cn • 2008 年，天元被中华全国律师协会评为2005- 2007 年度“全国优秀律师事务所”。 • 2011 年，天元入选《亚洲法律事务》（ALB）统计评选出的全国律师事务所发展二十强；同年，天元被中华全国律师协会评为“2008—2010 年度全国优秀律师事务所”；这是天元连续四次获得中国律师界的最高荣誉。 • 2014 年，天元被北京市司法局、北京市律师协会评为“2013-2014 年度北京市优秀律师事务所”。 • 2014 年12 月，天元被清科评为“2014 年中国VC/ PE 人民币基金投资最佳法律顾问机构” 。 • 2012-2015 年，天元连续被国际权威法律服务排名机构钱伯斯（Chambers & Partners）评选为中国资本市场、并购、争议解决和保险领域领先的律师事务所。 • 2015 年，天元被投中集团(Chinaventure) 评为“2014 年中国私募投资和风险投资最佳法律顾问Top5” 。北京 · 上海 · 深圳 · 成都 • 2015年天元被北京市律师协会选为“2012至2014年年度北京市优秀律师事务所” 。 WWW.LEGALBUSINESSONLINE.COM : @ALB_Magazine : Connect with Asian Legal Business COVER STORY 43

SINGAPORE DOMESTIC SINGAPORE INTERNATIONAL

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS* Baker & McKenzie.Wong 1 = Allen & Gledhill 143 222 367 1 = 25 71 96 & Leow 2 = Rajah & Tann 144 190 334 2 NEW Withers KhattarWong 32 35 76 3 = WongPartnership 100 202 302 3 -1 Clifford Chance 21 45 76 4 = Drew & Napier 87 122 275 4 = Norton Rose Fulbright 24 48 72 5 = Rodyk & Davidson 85 101 193 5 -2 Allen & Overy 13 44 66 6 +1 Shook Lin & Bok 34 62 96 6 -1 Linklaters 9 39 52 7 -1 Morgan Lewis Stamford 17 56 75 7 = Watson, Farley & Williams 15 30 45 8 = RHTLaw Taylor Wessing 28 38 73 8 -2 Herbert Smith Freehills 11 30 45 9 +1 Colin Ng & Partners 17 32 49 9 -1 Ashurst 12 30 42 10 NEW Bird & Bird ATMD 15 27 43 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 CONTINUED FROM PAGE 41 sources, IT, manufacturing, financial services and 14 -4 White & Case 12 19 31 healthcare have been hot sectors for 15 -4 Holman Fenwick Willan 11 19 30 M&A, with several notable deals in the 16 -3 Pinsent Masons 10 15 25 pipeline. Despite the split of Amarchand Milbank, Tweed, Hadley 17 +4 6 18 26 & Mangaldas & Suresh A Shroff & Co & McCloy into two firms in May, the new firms, 18 -3 Stephenson Harwood 8 16 26 Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas & Co, are already 19 -2 Sidley Austin 9 12 25 establishing themselves as heavyweights. 20 -2 Berwin Leighton Paisner 7 13 20

With 605 lawyers, Cyril Amarchand 21 -1 Shearman & Sterling 5 14 20 Mangaldas is the largest law firm in India, while Shardul Amarchand Mangaldas (370) 22 = K&L Gates 7 10 18 enters the table in third. Khaitan & Co (415) 23= +1 Reed Smith 9 6 17 retains its #2 position, while AZB & Partners 23= NEW King & Spalding 9 7 17 (320) climbs one spot to #4, displacing J. 25 NEW DLA Piper 5 9 14 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- With 367 lawyers, Allen & Gledhill takes the crown ments its standing as the largest law firm as the largest firm in Singapore for the third in Indonesia. Hadiputranto, Hadinoto & Partners (103) and Assegaf Hamzah & consecutive year. While Rajah & Tann features as the Partners (96) retain their second and third second largest firm in Singapore, it is the largest spots in the table, respectively. Hiswara Bunjamin & Tandjung (89) enters the ta- Singaporean firm in the Top 50 Asia table, due to its ble in fourth, while fellow new entrants sizeable presence in other parts of Asia. It now boasts ZICOlaw (30) and Arfidea Kadri Sahetapy- Engel Tisnadisastra (30) feature in the #13 430 lawyers in Asia, and moves up one spot to #19 in and #14 positions, respectively. Zaid Ibraham & Co is the largest law the Top 50 Asia table. WongPartnership (302), Drew & firm in Malaysia, with 172 lawyers, including Napier (275) and Rodyk & Davidson (193) claim the #3, 49 partners. Lee Hishammuddin Allen & Gledhill (107) climbs one spot to #2 this #4 and #5 spots, respectively. year, edging ahead of Shearn Delamore &

THAILAND VIETNAM

2015 FROM TOTAL NO. 2015 FROM TOTAL NO. FIRM PARTNERS ASSOCIATES FIRM PARTNERS ASSOCIATES RANK 2014 OF LAWYERS* RANK 2014 OF LAWYERS*

1 +1 Tilleke & Gibbins 17 84 101 1 = Vision & Associates 15 64 79

Siam Premier 2 -1 22 76 98 2 = VILAF 12 44 56 International Law Office

3 = Baker & McKenzie 50 30 82 3 = YKVN 9 46 55

4 +3 Weerawong C&P 11 52 63 4 +3 LNT & Partners 8 34 42

5 -1 Siam City Law Offices 10 47 57 5 = Baker & McKenzie 8 26 40

Bizlink Lawyers & 6 = 6 20 36 6 = LS Horizon Limited 10 40 53 Consultants

7 NEW Rajah & Tann 13 31 44 7 +3 Indochine Counsel 2 25 30

8 = DLA Piper 8 33 41 8 NEW Tilleke & Gibbins 2 26 28

Chandler & Thong-ek Law 9 = 11 26 40 9 -1 S&B LAW 7 20 27 Offices Watson Farley & Williams LuatViet Advocates & 10 NEW 6 24 30 10 -1 5 20 25 (Thailand) Solicitors

11= NEW PBC Partners & RHTLaw 5 17 22

11= -7 Phuoc & Partners 5 15 22

13 NEW Rajah & Tann LCT Lawyers 6 14 20

Freshfields Bruckhaus 14 NEW 2 14 18 Deringer

15 NEW Bizconsult Law 7 10 17

Co (106) by one lawyer. Wong & Partners Singapore. While Rajah & Tann features as Bruckhaus Deringer and Gibson, Dunn (74) and Raja, Darryl & Loh (65) both the second largest firm in Singapore, it is & Crutcher. jump two places up the table to #7 and the largest Singaporean firm in the Top 50 In Thailand, Tilleke & Gibbins claims #9, respectively. Asia table, due to its sizeable presence in the top spot with 101 lawyers, displacing In the Philippines, SyCip, Salazar, other parts of Asia. The firm has expanded Siam Premier International Law Office (98). Hernandez & Gatmaitan is once again its presence in Southeast Asia, bolster- Baker & McKenzie (82) retains its #3 posi- the largest law firm with 149 lawyers. ing its offices in Vietnam and Thailand, tion, while Weerawong C&P (63) jumps two ACCRALAW (127), Romulo Mabanta among others. It now boasts 430 lawyers places to #4. Rajah & Tann (44) continues Buenaventura Sayoc & De Los Angeles in Asia, and moves up one spot to #19 in its expansion drive in Asia, with the firm (95), Picazo Buyco Tan Fider & Santos the Top 50 Asia table. WongPartnership entering the Thailand table in seventh. (56) and Quisumbing Torres (51) make (302), Drew & Napier (275) and Rodyk & Watson Farley & Williams (Thailand) is up the rest of the largest five firms in Davidson (193) claim the #3, #4 and #5 also a new entrant with 30 lawyers. the Philippines. Siguion Reyna Montecillo spots, respectively. Despite uncertainties over a slowdown & Ongsiako (47) and V&A Law (45) both With 96 lawyers, Baker & McKenzie. in growth in Asia, Vietnam has made sev- climb one spot, while Puno & Puno Law Wong & Leow is the largest international eral changes to its legal and regulatory Offices (42) drops two places to #9. firm in Singapore. Withers (76) enters landscape in the hopes of encouraging Although business activity in Singapore the table in second place after it forged investment and M&A activity in the region. has been relatively flat in 2015, many ex- a Formal Law Alliance with KhattarWong Vision & Associates remains in the top spot pect deal flow and opportunities for legal in April, with the latter’s entire partner- in Vietnam, with 79 lawyers – 16 more than work to pick up in 2016, especially as the ship joining the international firm. Clifford in 2014. VILAF (56) and YKVN (55) hold AEC starts to promote greater economic Chance (76) drops down to #3, while Norton on to the #2 and #3 places, respectively, integration. With 367 lawyers, Allen & Rose Fulbright (72) stands firm at #4, hav- while LNT & Partners (42) jumps up three Gledhill takes the crown as the largest ing added nine lawyers to its ranks since spots to #4. This year, ALB has extended firm in Singapore for the third consecutive September 2014. King & Spalding (17) and the table from 10 to 15 firms, resulting in year. Close behind is Rajah & Tann with DLA Piper (14) enter the Singapore table a number of new entrants, including PBC 334 lawyers, including 144 partners in this year, at the expense of Freshfields Partners & RHTLaw (22).