Dentons makes Singapore return with office launch
Denton Wilde Sapte has reopened in Singapore less than five years after it pulled out of Asia entirely with the closure of four offices in the region. The City firm's new Singapore base has been open since December, it has emerged, with the firm receiving its licence to practise that same month. In addition, Dentons has entered into an association with Singapore firm Global Law Alliance that will see the pair cross-referring work on an exclusive basis.
March 19, 2009 at 01:33 AM
2 minute read
'Stream of instructions' prompts Asia return after five years away
Denton Wilde Sapte has reopened in Singapore less than five years after it pulled out of Asia entirely with the closure of four offices in the region.
The City firm's new Singapore base has been open since December, it has emerged, with the firm receiving its licence to practise that same month.
In addition, Dentons has entered into an association with Singapore firm Global Law Alliance that will see the pair cross-referring work on an exclusive basis.
London trade and export finance partner Jonathan Solomon has relocated from London to lead the charge, assisted by one associate.
The team will be completed with the addition of a senior associate, who is transferring from London in April, when Dentons is planning to officially launch the base, which will focus solely on trade finance.
Dentons has not had a presence in Asia since 2004 when it decided to shut up shop in Tokyo, Beijing, Hong Kong and Singapore, after a review determined that the offices did not fit with the firm's strategy.
Solomon said: "At the time of closing the Asian offices it was seen as a strategic and financial decision. The strategy did not see the Far East being profitable enough. What has changed is that we have started seeing a good stream of instructions from Singapore, so for our trade finance group it made sense to open up here."
He added: "The Singapore relaunch came in response to client requests. They wanted to continue to instruct us here, but said we needed people on the ground."
Clients of the firm with Asian businesses include Deutsche Bank, Standard Bank and Standard Chartered Bank.
Dentons said it had no current plans to open further offices in Asia or to expand in Singapore beyond three lawyers.
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