Clayton Utz pulls out of Hong Kong to focus on domestic practice
Clayton Utz has announced plans to end its association with Hong Kong firm Haley & Co from June this year in order to focus on its domestic practice.
March 25, 2014 at 03:20 AM
3 minute read
Clayton Utz has announced plans to end its association with Hong Kong firm Haley & Co from June this year in order to focus on its domestic practice.
The Sydney-headquartered outfit – one of two Australian 'big six' firms that chose to remain independent – said in a statement it was withdrawing from Hong Kong just four years after its launch there in response to changes in the legal services market.
"We had been undertaking work in the wider Asia Pacific region for several years, so [previously] it made sense to have an on the ground presence in Hong Kong," said Darryl McDonough, chief executive partner of the firm, who is stepping down from the management role on 1 July to be replaced by litigation partner Robert Cutler.
"However with the changes in the legal services market we have developed a clear strategic focus on being Australia's pre-eminent top tier independent law firm with deep relationships with a comprehensive network of best-in-market law firms in key international jurisdictions.
"The success of that clear strategic focus led us to a mutual agreement with Haley & Co. to withdraw from our association."
Clayton Utz tied up with Hong Kong outfit Haley & Co in 2010 – two decades after rival Mallesons entered the market – in the hopes of boosting its Asia construction and major projects work.
The move was Clayton Utz's first and only step outside of Australia, described by some as a departure from its traditional 'best friends' approach to international operations, though this was denied at the time.
Haley & Co was made up of former partner and head of construction at Deacons Glenn Haley, alongside Clayton Utz partner Colin Dodd, who relocated to the region from Sydney. Dodd has since been co-ordinating all of Clayton Utz's work for the major projects group in the region.
The decision to end the association contrasts greatly with the strategy of Australia's other independent legal giant Minter Ellison, which told Legal Week last year it was looking to boost its revenues from Asia and potentially open an office in Singapore.
Meanwhile, the likes of Allens and Freehills have also retracted in Asia in order to accommodate tie ups with UK outfits.
Related: Clayton Utz chief to step down after four year term
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