A&O hires Venture Law team to go it alone in Singapore
Allen & Overy (A&O) has launched a standalone Singapore office after recruiting all lawyers at White & Case's former joint venture (JV) firm, Venture Law. It is understood that the magic circle law firm broke off its own JV with Singapore practice Shook Lin & Bok around a month ago. The two firms had been in a formal alliance since 2000.
June 02, 2009 at 06:59 AM
2 minute read
Allen & Overy (A&O) has launched a standalone Singapore office after recruiting all lawyers at White & Case's former joint venture (JV) firm, Venture Law.
It is understood that the magic circle law firm broke off its own JV with Singapore practice Shook Lin & Bok around a month ago. The two firms had been in a formal alliance since 2000.
The Venture Law group joining A&O consists of around 10 lawyers, including two capital markets and corporate partners. Lock Yin Mei, who was the firm's managing director, and Kenny Kwan, join A&O as capital markets partners.
A&O and White & Case are among a group of six international firms that were awarded licences allowing them to independently practise local law in Singapore at the end of last year. The firms were given six months to set up a qualifying foreign law practice (QFLP).
Previously, international law firms were only allowed to practise local law through restrictive joint venture deals with local firms.
White & Case has initially intended to merge with Venture Law, which it had been aligned with since 2003, but shelved plans in March and instead decided to end the JV.
Following the hires, A&O's Singapore practice has 44 fee earners including nine partners. A&O Singapore managing partner Ken Aboud (pictured) said: "Yin Mei and Kenny are both outstanding lawyers and having them lead the development of our Singapore law practice will certainly enhance our position as a QFLP firm and strengthen our capabilities across all practice areas. We are now a true one-stop shop for high-end legal services in Singapore."
The other four firms to win licences to practise local law in Singapore were City law firms Clifford Chance (CC), Herbert Smith and Norton Rose and US firm Latham & Watkins. The application process was thought to have seen the interest of around 20 firms.
CC ended its JV with Wong Partnership last autumn, ahead of being awarded the licence.
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