Some of the latest developments in the international legal market
The Middle East remains a magnet for law firm activity; and new associations are formed in the Philippines and Brazil.
King & Spalding has been awarded a foreign law licence in Saudi Arabia. The Riyadh office will continue the firm’s focus on infrastructure, restructuring, corporate and energy in the country since 2007. CMS has also received a Saudi government licence to open and is hiring a team in Riyadh.
Meanwhile, in Dubai, Greenberg Traurig has opened with 2 real estate partners from BCLP and other senior hires. This follows the firm’s launch in Saudi Arabia in March. And DWF has hired 3 partners in Dubai, including 1 from Clyde & Co, to strengthen its offering in construction and insurance.
Further east, the largest Japanese law firm, Nishimura & Asahi, has formed a strategic alliance with Sy & Partners in the Philippines to focus on inbound and outbound investments. This adds to the alliance Nishimura entered into in Malaysia in January and its existing arrangements in Thailand, Indonesia and Singapore.
Across the Pacific, in Brazil, CMS has also been busy concluding a cooperation agreement with Focaccia, Amaral e Lamonica, a 120-lawyer full service firm with offices in Sao Paulo and Rio. CMS already has alliances in 4 other major South American countries.
Ongoing issues in China for firms; fallout in Paris from the proposed A&O Shearmans merger; and European openings
Linklaters has announced it will reduce headcount in China by 30 lawyers (just under 15%). This is a response to the prolonged downturn in the country’s markets, and follows retrenchments made by other firms in their China presence.
In Paris, a 4-partner corporate team departed Shearman & Sterling just in advance of its Allen & Overy merger vote. The team is moving to Proskauer Rose. It leaves Shearman with 4 partners in Paris.
Squire Patton Boggs is opening in Amsterdam with partner hires from Van Doorne and Taylor Wessing to focus on private equity and corporate, tech and life sciences. This is the firm’s 16th European office; it opened in Dublin last year.
Lastly, Perez-Llorca is opening in Lisbon next summer, expanding its network beyond Spain, London, New York, Brussels and Singapore. The office will practise Portuguese law and link both to Brazil and other Portuguese-speaking jurisdictions. This follows the major merger between Cuatrecasas of Spain and SLCM in Portugal late in 2022.
