Clydes eyes up to 20% Asia revenue growth in coming year
Clyde & Co is hoping to boost its Asia revenues by between 15 and 20% in the coming year as it continues to ramp up its capacity on the continent.
March 30, 2014 at 07:35 PM
3 minute read
Clyde & Co is hoping to boost its Asia revenues by between 15 and 20% in the coming year as it continues to ramp up its capacity on the continent.
The UK firm, which added three more offices and a string of key partners to its regional network in 2013, is also understood to be mulling additional offices in Australia and China.
Currently the outfit has 37 partners in Asia Pacific and a presence in 10 locations. Asia accounts for approximately 10% of global revenues.
In a statement, Asia managing partner Michael Parker said the firm had seen Asia revenues soar by almost a third in 2013, and that it would continue to expand.
He said there had been particular growth in the firm's infrastructure practice, with five partners added in the last 18 months.
"We remain positive about the upcoming financial year.
"Having achieved revenue growth in line with projections at around 30% in the region for 2013/14, and having significantly expanded our network presence and reach, we are on track to achieve targets in 2014/15 as practices continue to bed-in and further additions are made.
"We will continue to consolidate capability and reach both via organic growth and lateral hires across our core sectors – such as infrastructure, dispute resolution and international trade."
In Australia, the firm has offices located in three out of four major cities, Sydney, Perth and Melbourne. It is thought that the firm's management is considering adding a base in Brisbane.
In China it is among a handful of international outfits which has obtained a licence to form a JLV with a PRC firm via its Hong Kong branch and under China and Hong Kong's Closer Economic Partnership Arrangement (CEPA).
In addition to Chongqing, the licence enables it to apply to open in another two cities, which are thought to be under consideration.
The firm's main ventures last year included opening an office in Beijing, forming a joint law venture (JLV) with Singapore alliance firm Clasis, launching an association in Jakarta with Lubis Ganie Surowidjojo (LGS) and tying up with local PRC firm West Link Partnership in Chongqing.
Key hires included Perth construction partners Beth Cubitt and Glen Warwick from King & Wood Mallesons and Norton Rose Fulbright respectively, shipping partner Maurice Thompson from HWL Ebsworth in Melbourne, former Mayer Brown reinsurance partner Ian Roberts in Singapore and ex-Eversheds employment partner Iris Duchetsmann in Shanghai.
Related: Clyde & Co taps south west China through local joint venture
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