Law Fuel Article: Asian Law Firms Continue Their Growth

Asian Law Firms Continue Their Growth
posted by lawfueleditors, on Dec 29

Asian-based law firms are stuffed with cash and supplying an increasingly law-hungry market in the Asian region as the overall economy improves, according to a survey conducted by ALB,the Asia Legal Business magazine.

A raft of new office openings have occurred and more US-based firms are moving into the region to develop their own businesses during a slow time at home.First and second place getters were Dacheng Law Office with 3,240 fee earners and Beijing Yingke Law firm with 2,305 fee earners.

King & Wood with strong Australian affiliations following merger activity, was displaced in third position by Zhong Yin Law Firm with 1,223 fee earners.Chinese law firms dominate the rankings compiled by Asia legal business magazine, a thomson Reuters publication that listed the top 50 largest law firms that showed eight of the top 10 firms were Chinese, Six were Korean and Japanese and Indian law firms took five places each in the ALB Top 50.

International firms, mainly UK-based firms, took eight places in the top 50 and the biggest international firm to make the rankings was Baker & McKenzie.The listings, for some reason, exluded Australian and New Zealand law firms.

Although New Zealand firms would not have made the top 50 there would certainly have been some Australian placements, particularly given recent major changes to Australian law firm ownership.