Here’s the Singapore biz times report on what Chambers are saying — eg who’s in , who’s out, what’s up, what’s down.. you know the score…
Big Four keep their perch in face of competition from foreign firms
[SINGAPORE] Despite the growing competition posed by international law firms here that was evident in the highly anticipated Chambers and Partners’ legal rankings out today, the Big Four local firms managed to hold on to their dominant position in key areas of Singapore law.
The increasing presence of international law firms here – a result of the liberalisation of Singapore’s legal sector in recent years – found its way into the rankings, with more mentions of these international players.
Of the local law firms, Allen & Gledhill (A&G) took the top honours this year. It was conferred the National Singapore Law Firm of the Year award for 2014, from a shortlist that included Drew & Napier, Rajah & Tann, WongPartnership and Stamford Law.
Allen & Gledhill also racked up 12 Band 1 rankings – the highest ranking a firm can achieve for various categories of Singapore law. This was also double the number of Band 1 rankings achieved by any other local law firm.
Rajah & Tann received six Band 1 rankings, while Drew & Napier and WongPartnership each received five Band 1 rankings.
Drew & Napier’s CEO Davinder Singh SC was also one of two – and the only Singaporean – to be given Chambers’ prestigious Outstanding Achievement award, in recognition of his exceptional work in the dispute resolution field.
The publication’s sources highlighted Mr Singh’s excellent reputation for both litigation and arbitration work, with one saying: “The Davinder factor puts this practice in a different league.”
Only two of these awards are given out each year; the other award was given to Kenneth Siegel, managing partner of Morrison & Foerster LLP’s Tokyo office.
Mr Singh was also one of six Singapore-based partners to receive the sought-after “Star Individuals” ranking – a recognition of exceptional individual achievement in their respective fields. These persons rank above those who have been given the Band 1 ranking in the individual category.
He was named a “Star Individual” for Dispute Resolution – Litigation. The other “Star Individuals” were: John Richards of Allen & Overy, for Banking & Finance – International; William McCormack of Shearman & Sterling, for Projects & Infrastructure; Bertie Mehigan of O’Melveny & Myers, for Restructuring/Insolvency; and Michael Hwang SC and Michael Charles Pryles, both as most-in-demand arbitrators.
Lucien Wong of Allen & Gledhill was named “Senior Statesman” in the areas of Banking & Finance – Domestic and Corporate/M&A – Domestic.
According to Chambers, a “Senior Statesman” is a lawyer who no longer works hands-on with the same intensity but who, by virtue of close links with major clients, remains pivotal to the firm’s success.
The Chambers rankings, out yearly, are arguably the most keenly watched and closely followed of all global legal rankings. Divided into various geographical regions, the rankings are the result of lengthy and thorough independent research, including interviews with several thousand lawyers and clients for the Asia-Pacific guide alone.
Koay Shi-Ning, editor of Chambers’ Asia-Pacific guide, commented on the Singapore scene: “Singapore continues to be an exciting and vibrant market. This intense activity has resulted in continued development of our Singapore chapter.”
She added that research for the Singapore chapter took place against a backdrop of growing competition among both domestic and international law firms. Increasingly, the top international firms are offering access to both international and Singapore law advice, while the larger domestic firms are expanding into the South-east Asian region.
Milbank, Tweed, Hadley & McCloy was named International Singapore firm of the year, chosen out of a shortlist that included Allen & Overy LLP, Clifford Chance LLP, King & Spalding and Linklaters.
Clifford Chance achieved five Band 1 rankings in the firm rankings, the largest number among the international firms in Singapore. Baker Mckenzie.Wong & Leow and Allen & Overy were next in line with four Band 1 rankings each.
Ms Koay also noted that arbitration continues to be one of the most fiercely competitive practice areas. Herbert Smith Freehills maintained its Band 1 ranking here, while the increasingly prominent King & Spalding joined them in the top band.
Chambers also added four new tables this year: 1) Private client/Wealth Management, reflecting the Republic’s growing reputation as a wealth management centre; 2) Employment; 3) Competition/Anti-trust, both a reflection of the growing number of specialists working in these practice areas here; and 4) the English Bar, a table recommending the leading English barristers active in Singapore-based arbitrations, following a flurry of UK sets moving into Singapore in the past couple of years.
“Our research shows that the English Bar is competing with local and international law firms for prime arbitration instructions in Singapore and in the wider South-east Asian region. Following amendments to the Singaporean Legal Profession (Amendment) Bill in 2012, the sets are also well positioned to start picking up work in the Singapore courts going forward,” Ms Koay noted.
