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Cover Story Cover Story Asian Legal Business 50 ASIAN LEGAL BUSINESS 16 COVER STORY NOVEMBER 2014 ASIAN LEGAL BUSINESS WWW.LEGALBUSINESSONLINE.COM : @ALB_Magazine : Connect with Asian Legal Business COVER STORY 17 s economies worldwide continue to find their feet in the wake of the global TOP 50 INTERNATIONAL LAW FIRMS TOTAL RANK FIRM HEADQUARTERS PARTNERS ASSOCIATES financial crisis, Asia is fast emerging as FEE-EARNERS* the epicentre of growth. Investments 1 Baker & McKenzie U.S. 278 542 902 Aand human capital are flowing into and within the 2 Clifford Chance UK 78 270 464 region, while Asian companies are ramping up their 3 Linklaters UK 60 236 316 outbound activity. According to Thomson Reuters 4 DLA Piper UK/U.S. 52 245 297 data, announced M&A activity with any Asian in- 5 Allen & Overy UK 52 189 292 volvement in the first nine months of 2014 grossed 6 Freshfields Bruckhaus Deringer UK 33 N/A 260 $504.3 billion in value, a 59.1 percent increase over 7 Mayer Brown U.S. 74 160 257 the $317 billion recorded over the same period last year. China remains the most targeted nation in the 8 Hogan Lovells UK/U.S. 54 152 252 region with $261.7 billion from 2,789 deals. 9 Herbert Smith Freehills UK/Australia 53 180 245 The surge in business activity in Asia is also 10 Norton Rose Fulbright UK 54 140 217 stimulating significant demand for legal services. 11 Morrion & Foerster U.S. 62 92 191 The past 12 months alone have seen a plethora of 12 Jones Day U.S. 71 92 174 new law firm office openings in the region, several 13 Ashurst UK 41 107 164 mergers and alliances, and the strengthening of 14 Sidley Austin U.S. 32 87 160 existing Asian offices through lateral hires, internal 15 White & Case U.S. 44 94 158 promotions and relocations. 16 Reed Smith Richards Butler U.S. 35 76 139 An increasing number of international firms 17 Taylor Wessing UK 33 54 138 are setting up shop in Hong Kong, Singapore, 18 Davis Polk & Wardwell U.S. 14 68 125 China and South Korea to develop their Asia-wide 19 Pinsent Masons UK 26 76 117 practices. While many UK firms have had a sizeable 20 K&L Gates U.S. 42 59 114 presence in Asia for decades, a number of U.S. firms 21 Stephenson Harwood UK 27 66 105 are also coming to the fore, beefing up their head- 22 Shearman & Sterling U.S. 20 56 101 count in the region. These trends are reflected in the international firm tables for China, Hong Kong, 23 Latham & Watkins U.S. 33 52 100 Singapore, Japan and South Korea. 24 Orrick, Herrington & Sutcliffe U.S. 20 40 93 This year, in order to widen the scope of the re- 25= Bird & Bird UK 27 61 92 search and offer a more comprehensive overview of 25= Holman Fenwick Willan UK 27 54 92 the legal market in Asia, ALB has separated Asia’s 27 Kirkland & Ellis U.S. 24 41 89 Skadden, Arps, Slate, Meagher Top 50 Largest Law Firms list into two tables: 28 U.S. 19 56 89 & Flom “Top 50 International Firms” and “Top 50 Asian Firms”. 29 Bingham McCutchen U.S. 36 47 88 30 Watson, Farley & Williams UK 23 55 85 31 Squire Patton Boggs U.S. 29 45 84 32 Clyde & Co UK 29 N/A >80 OUR RESEARCH 33 Paul Hastings U.S. 21 45 74 • Firms were contacted in September 2014 and 34 Ropes & Gray U.S. 18 51 74 asked to provide partner and lawyer numbers 35 Simpson Thacher & Bartlett U.S. 15 52 71 across their Asian offices as of Sep. 1, 2014. 36 O'Melveny & Myers U.S. 19 24 69 • Total fee-earners is the total number of 37 Eversheds UK 19 34 67 partners, associates, counsel, foreign counsel 38 Duane Morris & Selvam U.S. 24 39 63 and consultants. Trainees or pupils were not 39 Simmons & Simmons UK 26 26 61 counted among fee-earners. Cleary Gottlieb Steen & 40 U.S. 8 48 58 • In the instance where a firm did not make a Hamilton submission, figures were obtained either from 41 Slaughter and May UK 13 >40 >53 the firm’s website, its submission in 2013, or 42 Ince & Co UK 16 31 51 from available official law society data. ALB 43 CMS UK 5 36 43 accepts no responsibility for the accuracy of 44 Berwin Leighton Paisner UK 16 24 40 information published on a law firm’s website. 45 Gide Loyrette Nouel France 8 31 40 • The research did not include law firm fee-earner Milbank, Tweed, Hadley & 46 U.S. 12 23 39 figures from Australia and New Zealand. Only McCloy lawyers and partners based in Asia were taken 47 Sullivan & Cromwell U.S. 8 24 37 into account for this research. 48 Minter Ellison Australia 14 N/A >35 • In the instance where two firms had the same 49 Weil, Gotshal & Manges U.S. 10 18 34 total fee-earner headcount, the firm with the 50 Hunton & Williams U.S. 6 24 34 greater number of partners was ranked higher. ASIAN LEGAL BUSINESS 18 COVER STORY NOVEMBER 2014 TOP 50 ASIAN LAW FIRMS TOTAL RANK ASIAN FIRM HEADQUARTERS PARTNERS ASSOCIATES FEE-EARNERS* 1 Beijing Yingke Law Firm China 842 1759 3977 2 Dacheng Law Offices China 878 2016 3410 3 Zhong Yin Law Firm China 173 941 1458 4 King & Wood Mallesons China/Australia 229 704 1231 A host of international law firms have strengthened 5 Grandall Law Firm China 235 660 1210 their Asian presence in the past 12 months, launch- 6 DeHeng Law Offices China 187 763 1106 ing new offices and alliances in markets like Hong 7 Kim & Chang South Korea 120 N/A 1000 Kong, Korea, Singapore and Myanmar. Many firms 8 Zhong Lun Law Firm China 280 686 966 have bolstered their headcount in more established 9 AllBright Law Offices China 265 690 959 Amarchand & Mangaldas & jurisdictions like Hong Kong and Singapore, while 10 India 86 619 705 Suresh A. Shroff & Co some have scaled back operations in China and Japan. 11 Long An Law Firm China 189 400 602 Baker & McKenzie ranks as the largest interna- 12 Jun He Law Offices China 167 368 548 tional firm by headcount in Asia, with 902 fee-earn- 13 Nishimura & Asahi Japan 101 347 501 ers across 12 jurisdictions. UK Magic Circle firms 14 Zhong Lun W&D Law Firm China 212 283 495 Clifford Chance and Linklaters claim the second 15 Lee & Ko South Korea 139 335 493 and third spots, with 464 and 316 fee-earners in 16 Bae, Kim & Lee South Korea 160 247 490 Asia, respectively. 17 Tahota Law Firm China 52 415 467 U.S. law firms account for 26 of the 50 larg- 18 Guanghe Law Firm China 112 348 460 est international firms in Asia, though only two 19 Deheng Law Firm China 37 396 433 American firms feature in the top ten. Meanwhile, 20 Rajah & Tann Singapore 161 267 428 UK firms make up 19 of the 50 largest interna- 21 Lee and Li Taiwan 56 371 427 tional firms, with five in the top ten. Firms with 22 Shin & Kim South Korea 143 182 388 joint headquarters like DLA Piper (UK-U.S.), Hogan 23 Yulchon South Korea 139 188 385 Lovells (UK-U.S.) and Herbert Smith Freehills (UK- 24 TMI Associates Japan 83 257 384 Australia) also feature in the top ten. French firm 25 Khaitan & Co India 81 291 372 Gide Loyrette Nouel and Australia’s Minter Ellison also enter the Top 50 International Law Firms table, 26 Mori Hamada & Matsumoto Japan 96 262 358 ranked #45 and #48, respectively. 27 Allen & Gledhill Singapore 141 214 357 Among Asian firms, Beijing Yingke Law Firm 28 Guantao Law Firm China 79 189 351 (3,977 fee-earners) claims the top spot as the larg- 29 Luthra & Luthra India 44 250 350 est firm in Asia, followed by Chinese rivals Dacheng 30 Yoon & Yang South Korea 109 168 340 Law Offices (3,410) and Zhong Yin Law Firm (1,458) 31 Grandway Law Offices China 64 N/A 328 in second and third. King & Wood Mallesons (1,231) 32 Nagashima Ohno & Tsunematsu Japan 93 201 327 and Grandall Law Firm (1,210) take the fourth and 33 Anderson Mori & Tomotsune Japan 98 181 315 fifth spots, respectively. Unsurprisingly, Chinese 34 J. Sagar Associates India 78 208 312 law firms account for 23 of the 50 largest Asian 35 Zhongcheng Renhe Law Firm China 78 275 307 firms in the region, with eight firms in the top ten. 36 WongPartnership Singapore 98 198 296 India’s Amarchand & Mangaldas & Suresh A. Shroff 37 Jingtian & Gongcheng China 67 204 272 & Co (705) and Korean firm Kim & Chang (1,000) 38 Drew & Napier Singapore 80 124 261 also feature in the top ten. Eight Indian firms and 39 Fangda Partners China 54 167 261 six Korean firms feature in the Top 50 table, while 40 Zaid Ibrahim & Co Malaysia 73 169 256 Japanese and Singaporean firms claim five spots each. 41 Deacons Hong Kong 51 143 253 42 Global Law Office China 60 175 240 Figures as of Sep. 1, 2014 43 AZB & Partners India 19 221 240 NOTE: In the instance where a firm did not make a 44 Hylands Law Firm China 43 150 235 submission, figures were obtained either from the firm’s 45 Rodyk & Davidson Singapore 96 103 232 website, its submission in 2013, or from available official 46 Tenet & Partners China 38 N/A 230 law society data.
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