DLA Piper International LLP (DLA Piper) and leading Australian business law firm DLA Phillips Fox are pleased to announce that terms have been agreed for the full integration of DLA Phillips Fox into DLA Piper to create an unrivalled Asia Pacific capability.
Both firms expect to gain overwhelming partner consent for the integration by the end of February with the integration becoming effective on 1 May 2011.
Sir Nigel Knowles, Co-Chief Executive Officer of DLA Piper and Frank Burch, Global Chairman of DLA Piper commented: “The cementing of the relationship between DLA Piper and DLA Phillips Fox is part of our Global Strategy and is an integral part in helping us become the world’s leading business law firm. As part of our strategy we are committed to expansion within the G20 nations, and with Australia as the 14th largest industrialised nation it provides excellent opportunities with its strong ties to some of the most rapidly growing economies in Asia. With the integration of DLA Phillips Fox, DLA Piper will be the world’s largest business law firm, uniquely positioning our firm to serve the world’s leading enterprises wherever they may conduct business.”
On completion of the integration, DLA Piper’s Asia Managing Director Alastair Da Costa will become Managing Director for the whole of the Asia Pacific business.
The Asia Pacific business will have revenues expected to exceed £195m and will comprise over 700 lawyers in Australia, China, Hong Kong, Japan, Singapore and Thailand. In addition to over 300 lawyers from the West Coast of the United States, this business will have the depth and breadth to rival any other law firm in the region and will provide clients with seamless multijurisdictional capabilities.
“Economic influence in the world is moving to the Asia Pacific region,” said Alastair. “This integration of two leading law firms with a well established presence in the world’s most dynamic markets and the resource-rich, developed economy of Australia will be attractive to the growing number of companies which are building businesses spanning the region.”
The proposed integration is a positive and proactive response to the changing legal market conditions and is a reflection of the increased importance of the Asia-Pacific region. The integration will create the largest Australian operation for a global business law firm and extend the DLA Piper footprint across 30 countries and over 70 offices, accommodating over 4,000 lawyers.
DLA Phillips Fox CEO Tony Holland will continue to manage operations in Australia, as DLA Piper’s Regional Managing Partner for Australia, and will be a member of the Executive responsible for the Asia Pacific business.
Tony Holland commented: “We have had a good understanding of the globalisation of business and of the legal market for some time and our affiliation with DLA Piper has enabled us to service clients who are looking to grow internationally. This full integration with DLA Piper will allow us to grow and better meet our Australian clients’ increasingly global needs and the needs of DLA Piper’s global clients.”
The Asia Pacific region is expected to produce 45% of the world’s GDP by 2015. The world is watching as China – Australia’s biggest trading partner – is forecast to become its largest economy by as soon as 2017. Businesses from markets such as China, India, Japan and South Korea are increasingly pursuing growth on a global scale and Australian companies continue to expand into the region as well as around the world. At the same time, the fast growth of economies such as China has provided Australia with significant new export markets and sources of investment in recent years.
“This expansion in cross-border activity and growing demand by companies for seamless legal and business advice wherever they operate is a major factor in our decision to join forces and build the Asia Pacific region’s leading business law firm,” said Alastair. “Our vision is to become the world’s leading business law firm and this significant expansion of our resources in the Asia Pacific region will deliver optimal services to our clients.”
Tony added, “Across Australia and Asia, our closely aligned practice groups and Partners will work together seamlessly to meet our clients’ needs.
“Not only will this integration enhance our ability to challenge the local top tier firms for work but it will also create some exciting international career development opportunities for our people,” he said.
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