EY loses international law capability in Singapore after network firm shuts down
EY Law network firm DA Partners ceased business in June this year
September 29, 2016 at 07:20 AM
2 minute read
EY Law's Singapore firm DA Partners shut down just months after the firm gained a licence to practice international law in the country, it has emerged.
The closure – which took place on 27 June – leaves EY without an international law capability in Singapore, although the firm still has a relationship with local practice PK Wong.
DA Partners launched in August 2015 after receiving a foreign law practice licence in Singapore, enabling it to offer international legal advice in the city-state. PK Wong, with which EY allied in October 2014, solely provides advice on domestic law.
DA Partners was led by John Dick and Evangelos Apostolou, who is now based in London as regional head for technology company SirionLabs.
In a statement, EY said that clients would "continue to be served by other members of its global network", adding that the firm was "committed to its strategy of increasing the membership of law firms in its global network in Asia-Pacific and Southeast Asia."
Currently, the accountancy giant's legal network has a presence in 10 countries across the Asia-Pacific region, including South Korea and Australia.
EY's legal arm narrowly missed its goal of setting up offices in 75 jurisdictions before the end of 2015. Legal Week reported last June that the firm wanted to have law practices in 75 offices worldwide by the end of the year, but it ended 2015 with 71.
EY has subsequently pushed its targets higher. Speaking to Legal Week, the firm's global law leader Cornelius Grossmann said the accountancy giant now has plans to expand further until it has a presence in 85 countries.
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