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 APPLEBY

The world’s largest offshore law firm is set to become even bigger in 2010.

2009 has been a busy year for Appleby by every measure: A merger, two new offices and an expansion of existing ones meant that the firm ended 2009 as the largest offshore law firm in the world by headcount. In June, the firm opened new offices in the niche, yet fast-growing, Seychelles and Bahrain markets and in July became the first international law firm in Mauritius to obtain approval to practice both local and international law for the office it had opened in early 2007.

Arguably its crowning achievement was its merger with Isle of Man firm Dickinson Cruickshank. The merger, which was finalised in October, made Appleby only the second international offshore law firm to have a presence in what is widely known as a hub for investment into India (the other firm is Cains) and rounded off its already impressive suite of offshore jurisdictions — for the time being, at least. But further growth is on the cards for this aggressive offshore player. And while the firm has said that establishing a presence in Guernsey will be its number one growth objective for 2010, the bigger question is whether it will look to penetrate the lucrative South American market, like some of its fellow offshore firms.

“Appleby will be continuing to carefully watch developments in Asia, particularly Shanghai, Beijing and Singapore. We are not committing to new offices in the region, at this stage, but will reconsider that as the year wears on… Globally, we have one more major offshore jurisdiction in our sights, Guernsey, but we will keep our eyes open for new areas of business or new locations that our clients may benefit from,” said Peter Bubenzer, group managing partner. 

 ARENDT & MEDERNACH

A niche – yet in demand focus – make this Luxembourg firm one to watch in 2010

After opening an office in Hong Kong in 2009, Arendt & Medernach became the first law firm from Luxembourg to have an office in Asia and the only to provide advice on its laws.

Speaking to ALB earlier this year, Guy Harles (pictured below) a founding partner of the firm and head of international development and strategy, said that the move was hastened by the increasing volumes of trade between Luxembourg and Greater China, especially in the areas of public and private funds and direct investment.

“Hong Kong, due to its unique position as one of the global leading financial centres, is a centre that cannot be ignored in the global strategy of financial institutions and large and mid-sized companies of the industrial sector. Our clients in the region seek information on the Luxembourg financial centre, which helps them assist their contacts in the greater China region,” he said.

The fact that Luxembourg is the world’s second largest investment fund centre and the second most active country in terms of concentration of financial and banking activity will ensure that Arendt & Medernach’s Hong Kong office will be busy in the year ahead, making it one to watch in 2010.

“As outward investment funds from Asia are likely to increase fairly dramatically over the short term, and given the changes and reforms that are being implemented in multiple jurisdictions, the need for up to date advice and expertise is likely to grow. We see this strategic move of ours as timely,” said the firm’s Claude Niedner.

 NEXT: How much bigger can Asia’s biggest firm become?

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