The Pandemic Couldn't Slow the Ascent of Asia-Pacific's Rapidly Expanding Elite Firms
The challenges posed by the pandemic were short-lived in Asia, as a confluence of factors helped firms outpace many of their Global 200 competitors.
September 29, 2021 at 03:00 AM
6 minute read
The original version of this story was published on Law.com International
For law firms, the challenges of the COVID-19 pandemic manifested in many ways. Some struggled with the wholesale shift to remote working; there was a moratorium on traveling for client meetings and events; and deal activity came to a grinding halt. But in Asia, the troubles were short-lived.
For the 20 Asia-Pacific firms that made it onto this year's Global 200, last year turned out to be a moment of significant growth. As a group, these firms posted a 10% increase in revenue (along with the addition of one newcomer), totaling more than $12 billion. A bounce back in the second half of the year made Asia-Pacific one of the biggest bright spots in the legal industry, helping the 11 Chinese firms, six Australian firms and three South Korean firms on the Global 200 establish momentum after a brief setback.
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