Berwin Leighton Paisner to close Myanmar office less than two and half years since launch
Myanmar head Chris Hughes to leave firm with team of lawyers following strategic review
February 21, 2018 at 07:15 AM
2 minute read
Berwin Leighton Paisner (BLP) is closing its office in Myanmar following a strategic review.
The firm has had a base in the country since late 2015, when it hired Baker McKenzie's former Yangon office managing partner Chris Hughes to lead the launch.
Corporate finance partner Hughes and his team – which, according to the firm's website, comprises four Myanmar-based lawyers – will now leave the firm.
In a statement, the firm said that with the "majority of work currently being serviced out of the BLP Singapore office, the flow of locally-generated business does not justify currently maintaining a physical presence on the ground".
The closure leaves BLP with four Asia offices, in Beijing, Hong Kong, Indonesia and Singapore.
The statement adds: "Having worked on market-leading transactions in this market since 2012, BLP remains committed to our Myanmar-related practice and clients, and will continue to support transactions from its Myanmar desks in Singapore and Hong Kong."
BLP first moved into the Myanmar market in March 2014 via a tie-up with local outfit Legal Network Consultants, which became a member of the firm's Asia network. Prior to this, BLP serviced clients in the region from its Singapore office.
In November 2015, the firm announced its intention to open its first office in the country with the hire of Hughes, a move the firm said would allow it "to capitalise on the improving investment climate in the region".
BLP is currently closing in on a decision on its proposed transatlantic merger with Bryan Cave, with the result of a partner vote set to be revealed next week. Last week, the firm announced the launch of a base in Southampton with the hire of two Womble Bond Dickinson partners.
Other major law firms with a presence in Myanmar include Allen & Overy and Bakers, both of which launched in the country in 2014. Stephenson Harwood opened a local base in 2016 after ending its alliance with local firm U Tin Yu & Associates, while Dentons launched in Yangon last year with the hire of a seven-strong local team.
International law firm interest in Myanmar has grown since the country began far-reaching political reforms in 2011, including a foreign investment law allowing foreigners to own 100% of their business.
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