As economies worldwide continue to find their feet in the wake of the global financial crisis, Asia is fast emerging as the epicentre of growth. Investments and human capital are flowing into and within the region, while Asian companies are ramping up their outbound activity. According to Thomson Reuters data, announced M&A activity with any Asian involvement in the first nine months of 2014 grossed $504.3 billion in value, a 59.1 percent increase over the $317 billion recorded over the same period last year. China remains the most targeted nation in the region with $261.7 billion from 2,789 deals.

The surge in business activity in Asia is also stimulating significant demand for legal services. The past 12 months alone have seen a plethora of new law firm office openings in the region, several mergers and alliances, and the strengthening of existing Asian offices through lateral hires, internal promotions and relocations.

An increasing number of international firms are setting up shop in Hong Kong, Singapore, China and South Korea to develop their Asia-wide practices. While many UK firms have had a sizeable presence in Asia for decades, a number of U.S. firms are also coming to the fore, beefing up their headcount in the region. These trends are reflected in the international firm tables for China, Hong Kong, Singapore, Japan and South Korea.

This year, in order to widen the scope of the research and offer a more comprehensive overview of the legal market in Asia, ALB has separated Asia’s Top 50 Largest Law Firms list into two tables: “Top 50 International Firms” and “Top 50 Asian Firms.”

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TOP 50 INTERNATIONAL LAW FIRMS

RANK

 FIRM

HEADQUARTERS 

PARTNERS

ASSOCIATES

TOTAL FEE-EARNERS*

1  

Baker & McKenzie

U.S.

278 

542

902

2  

Clifford Chance

UK

78

270

464

3   

Linklaters

UK

60

236

316

4  

DLA Piper

UK/U.S.

52

245

297

5   

Allen & Overy

UK

52

189

292

6    

Freshfields Bruckhaus Deringer

UK

33

N/A

260

7  

Mayer Brown 

U.S.

74

160

257

8  

Hogan Lovells

UK/U.S.

54

152

252

9  

Herbert Smith Freehills

UK/Australia

53

180

245

10 

Norton Rose Fulbright  

UK

54

140

217

11 

Morrion & Foerster 

U.S.

62

92

191

12    

Jones Day

U.S.

71

92

174

13

Ashurst

UK 

41

107

164

14 

Sidley Austin 

U.S.

32

87

160

15    

White & Case

U.S.

44

94

158

16 

Reed Smith Richards Butler

U.S.

35

76

139

17    

Taylor Wessing

UK

33

54

138

18

Davis Polk & Wardwell

U.S. 

14

68

125

19

Pinsent Masons 

UK

26

76

117

20    

K&L Gates

U.S.

42

59

114

21

Stephenson Harwood

UK

 27

 66

105

22   

Shearman & Sterling

U.S.

20

56

101

23 

Latham & Watkins

U.S.

33

52

100

24 

Orrick, Herrington & Sutcliffe

U.S.

20

40

93

25= 

Bird & Bird

UK

27

61

92

25=  

Holman Fenwick Willan

UK

27

54

92

27   

Kirkland & Ellis

U.S.

24

 41

89

28

Skadden, Arps, Slate, Meagher & Flom

U.S.

19

56

89

29   

Bingham McCutchen

U.S.

36

47

88

30 

Watson, Farley & Williams

UK

23

55

85

31    

Squire Patton Boggs

U.S.

29

45

84

32  

Clyde & Co

UK

29

N/A

>80

33   

Paul Hastings

U.S.

21

45

74

34  

Ropes & Gray

U.S.

18

51

74

35 

Simpson Thacher & Bartlett 

U.S.

15

52

71

36

O'Melveny & Myers

U.S.

19

24

 69

37 

Eversheds 

UK

19

34

67

38

Duane Morris & Selvam

U.S.

24

39

63

39   

Simmons & Simmons

UK

26

26

61

40

Cleary Gottlieb Steen & Hamilton

U.S.

8 

48

58

41

Slaughter and May

UK

13

>40

>53

42   

Ince & Co

UK

16

31

51

43   

CMS

UK

5

36

43

44   

Berwin Leighton Paisner

UK

16

24

40

45   

Gide Loyrette Nouel

France

8

31

40

46

Milbank, Tweed, Hadley & McCloy 

U.S.

12

23

39

47 

Sullivan & Cromwell

U.S. 

8

24

37

48   

Minter Ellison

Australia

14

N/A

>35

49   

Weil, Gotshal & Manges

U.S.

10

18

34

50  

Hunton & Williams

U.S. 

6

24

34

OUR RESEARCH

• Firms were contacted in September 2014 and asked to provide partner and lawyer numbers across their Asian offices as of Sep. 1, 2014.

• Total fee-earners is the total number of partners, associates, counsel, foreign counsel and consultants. Trainees or pupils were not counted among fee-earners.

• In the instance where a firm did not make a submission, figures were obtained either from the firm’s website, its submission in 2013, or from available official law society data. ALB accepts no responsibility for the accuracy of information published on a law firm’s website.

• The research did not include law firm fee-earner figures from Australia and New Zealand. Only lawyers and partners based in Asia were taken into account for this research.

• In the instance where two firms had the same total fee-earner headcount, the firm with the greater number of partners was ranked higher.

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ASIA’S TOP 50

Baker & McKenzie ranks as the largest international firm by headcount in Asia, with 902 fee-earners across 12 jurisdictions. UK Magic Circle firms Clifford Chance and Linklaters claim the second and third spots, with 464 and 316 fee-earners in Asia, respectively.

U.S. law firms account for 26 of the 50 largest international firms in Asia, though only two American firms feature in the top ten. Meanwhile, UK firms make up 19 of the 50 largest international firms, with five in the top ten. Firms with joint headquarters like DLA Piper (UK-U.S.), Hogan Lovells (UK-U.S.) and Herbert Smith Freehills (UK-Australia) also feature in the top ten. French firm Gide Loyrette Nouel and Australia’s Minter Ellison also enter the Top 50 International Law Firms table, ranked #45 and #48, respectively.

Among Asian firms, Beijing Yingke Law Firm (3,977 fee-earners) claims the top spot as the largest firm in Asia, followed by Chinese rivals Dacheng Law Offices (3,410) and Zhong Yin Law Firm (1,458) in second and third. King & Wood Mallesons (1,231) and Grandall Law Firm (1,210) take the fourth and fifth spots, respectively. Unsurprisingly, Chinese law firms account for 23 of the 50 largest Asian firms in the region, with eight firms in the top ten. India’s Amarchand & Mangaldas & Suresh A. Shroff & Co (705) and Korean firm Kim & Chang (1,000) also feature in the top ten. Eight Indian firms and six Korean firms feature in the Top 50 table, while Japanese and Singaporean firms claim five spots each.

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TOP 50 ASIAN LAW FIRMS

 

 

RANK 

 

ASIAN FIRM

HEADQUARTERS 

PARTNERS

ASSOCIATES

TOTAL

FEE-EARNERS*

1    

Beijing Yingke Law Firm

China

842

1759

3977

2

Dacheng Law Offices  

China

878

2016

3410

3 

Zhong Yin Law Firm

China

173

941

1458

4 

King & Wood Mallesons

China/Australia  

229

704

1231

5  

Grandall Law Firm

China

235

660

1210

6    

DeHeng Law Offices

China

187

763

1106

7 

Kim & Chang

South    Korea

120

N/A

1000

8

Zhong Lun Law Firm

China

280

686

966

9

AllBright Law Offices

China

265

690

959

10

 Amarchand & Mangaldas & Suresh A. Shroff & Co

India

86 

619

705

11

 Long An Law Firm

China

 189

400

602

12   

Jun He Law Offices

China

167

368

548

13

Nishimura & Asahi

Japan

101

347

 501

14   

Zhong Lun W&D Law Firm

China

212

283

495

15

Lee & Ko  

South Korea

139

335

493

16

Bae, Kim & Lee

South Korea

160

247

490

17   

Tahota Law Firm

China

52

415

467

18 

Guanghe Law Firm 

China

112

348

460

19 

Deheng Law Firm

China

 37

396

433

20

Rajah & Tann

Singapore 

161

 267

428

21

Lee and Li  

Taiwan

56

371

427

22   

Shin & Kim

South Korea

143

182

388

23 

Yulchon

South Korea

139

188

385

24

TMI Associates 

Japan

83

257

384

25

Khaitan & Co

India

81

291

372

26

Mori Hamada & Matsumoto

Japan

96

262

358

27  

Allen & Gledhill

Singapore

141

 214

357

28

Guantao Law Firm 

China

79

189

351

29

Luthra & Luthra 

India

44

250

350

30  

Yoon & Yang 

South Korea

109

168

340

31 

Grandway Law Offices

China 

64

N/A

328

32

Nagashima Ohno & Tsunematsu

Japan

93

201

327

33 

Anderson Mori & Tomotsune 

Japan

98

181

315

34  

J. Sagar Associates 

India

78

208

312

35

Zhongcheng Renhe Law Firm

China

78

275

307

36   

WongPartnership

Singapore

98

198

296

37

Jingtian & Gongcheng  

China

67

204

272

38

Drew & Napier

Singapore 

80

124

261

39 

Fangda Partners

China 

54

167

261

40 

Zaid Ibrahim & Co

Malaysia

73

169

256

41

Deacons

Hong Kong  

51

143

253

42    

Global Law Office

China

60

175

240

43  

AZB & Partners

India 

19

221

240

44 

Hylands Law Firm

China

43 

150

235

45    

Rodyk & Davidson

Singapore

96

103

232

46   

Tenet & Partners

China

38

N/A

230

47  

 Jincheng Tongda & Neal

China

106

60

226

48 n 

Lakshmikumaran & Sridhara

India

39

171

210

49 

Desai & Diwanji 

India

17

156

173

50

Trilegal 

India

23

125

 172

 

Figures as of Sep. 1, 2014

NOTE: In the instance where a firm did not make a submission, figures were obtained either from the firm’s website, its submission in 2013, or from available official law society data. ALB accepts no responsibility for the accuracy of information published on a law firm’s website.

*Total fee-earners is the total number of partners, associates, counsel, foreign counsel and consultants. Trainees or pupils were not counted among fee-earners.

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NORTH ASIA

Beijing Yingke Law Firm, with 3,976 fee-earners in China, displaces Dacheng Law Offices (3,410 feeearners) as the largest law firm in China. Zhong Yin Law Firm (1,458) is the third-largest firm in China, with more than 200 fee-earners joining its offices since September 2013. Grandall Law Firm consolidates its position as the fourth-largest firm, and has added 10 fee-earners to its offices in the past 12 months. In particular, Grandall Law Firm’s M&A, capital markets, outbound investment and litigation practices have experienced strong growth in the last year, says Jianjun (Charles) Guan, managing partner of the firm’s Shanghai office. “Talent is the basis of the firm’s competitiveness. It secures the firm’s steady and healthy development,” says Guan. “In order to maximise employee retention, the firm takes a series of measures, including but not limited to providing competitive salary for both new recruits and other employees, training programs, annual outings, steady promotion opportunities, and enhancing the sense of belonging,” he adds. The firm has major expansion plans in the pipeline for 2015, including the launch of offices in the U.S. and other key cities in China, says Guan.

CHINA INTERNATIONAL   

RANK

CHANGE FROM 2013

FIRM

PARTNERS

ASSOCIATES

TOTAL FEE-EARNERS

1

+1

Baker & McKenzie

17

 50

86

2   

+1

Hogan Lovells

13

45

78

3 

+1 

DLA Piper

8

55

63

4

-3

Clifford Chance 

12

43

61

5 

=

Freshfields Bruckhaus Deringer

 5

N/A

>60

6

=

Linklaters

10 

42

58

7

+1

Pinsent Masons

6

31

 45

8  

NEW

CMS, China

5

36

43

9 = 

 

Mayer Brown JSM

10

24

37

10

=

Herbert Smith Freehills

6

28

34

11  

+2

Allen & Overy

7

19

33

12 

 -1

Jones Day

12

18

31

13    

-6

O'Melveny & Myers

9

13

31

14  

 -2

Norton Rose Fulbright

10

15

30

15  

+1

Sidley Austin

7

14

28

16  

NEW

Taylor Wessing 

5

17

27

17   

NEW

White & Case

4

13

26

18  

NEW

Paul Hastings

6

16

25

19  

 =

Kirkland & Ellis

2

10

25

20  

-6

Gide Loyrette Nouel

5

18

 23

21   

-3

Shearman & Sterling

3

15

23

22 

NEW

Reed Smith Richards Butler

5

7

22

23=

NEW

Squire Patton Boggs

7

11

21

23=  

NEW

 K&L Gates

7

12

21

25   

NEW

Sheppard, Mullin, Richter & Hampton

5

7

20

CHINA DOMESTIC

 

2014

RANK

 

CHANGE

FROM 2013

FIRM

PARTNERS

ASSOCIATES

TOTAL

FEE-EARNERS

1 

+1

Beijing Yingke Law Firm

841

1759

3976

2  

-1

Dacheng Law Offices

878

2016

3410

3    

=

Zhong Yin Law Firm

173

941

1458

4    

=

Grandall Law Firm

235

660

1210

5  

+1

DeHeng Law Offices

187

 763

1106

6   

 -1

King & Wood Mallesons

205

600

1091

7 

+1

Zhong Lun Law Firm 

280

686

966

8    

-1

AllBright Law Offices

265

690

959

9   

 =

Long An Law Firm

189

400

602

10    

=

Jun He Law Offices

161

357

531

11  

=

Zhong Lun W&D Law Firm

212

283

495

12 

NEW

Tahota Law Firm

 52

415

467

13  

-1

Guanghe Law Firm

112

 348

460

14    

+4

Deheng Law Firm

37

396

433

15   

+1

Guantao Law Firm

 75

182

334

16  

-2

Grandway Law Offices

64

 N/A

328

17   

-2

Zhongcheng Renhe Law Firm

78

275

307

18 

-1

Jingtian & Gongcheng 

67

204

272

19  

NEW

Fangda Partners

51

157

242

20 

NEW

Global Law Office

60

175

240

21   

-1

Hylands Law Firm

43

150

235

22   

NEW

Tenet & Partners

38

N/A

230

23    

-4

Jincheng Tongda & Neal

106

60

226

24    

NEW

Lantai Partners

28

20

160

25  

NEW

Boss & Young

51

104

156

 

Baker & McKenzie (86), Hogan Lovells (78) and DLA Piper (63) make up the three largest international law firms in China. All three firms move up a place from last year at the expense of Clifford Chance, which drops three spots from first to fourth. O’Melveny & Myers falls six places from #7 to #13, with the firm’s headcount contracting by 19 fee-earners from 2013.

While the sizes of law firms’ corporate, finance and other core practices in China have fluctuated in the past year, one area that has seen exceptional growth is antitrust. While recruitment of competition lawyers has been on the rise since China introduced its Anti-Monopoly Law in 2008, headhunters say there has been a sharp uptick in the past year. Janet Chan, manager of the legal division at recruiter Michael Page, told Reuters earlier this year that she had seen a 20 percent increase in demand for antitrust attorneys over the past 12 to 18 months. King & Wood Mallesons, for example, now has three partners and more than a dozen associates dedicated to competition law work, and is looking to further expand its China competition team, according to a partner in the firm’s antitrust practice.

HONG KONG INTERNATIONAL

 

2014

RANK

 

CHANGE

FROM 2013

 

FIRM

PARTNERS

ASSOCIATES

TOTAL

FEE-EARNERS

1

+2

Mayer Brown JSM

60

94

174

2

=

Baker & McKenzie

51

101

170

3

-2

Clifford Chance

35

112

162

4

+2

Linklaters

31

120

157

5

-1

DLA Piper

28

126

154

6

-1

King & Wood Mallesons

24

104

140

7

+5

Allen & Overy

22

68

113

8

+2

Reed Smith Richards Butler

24

64

104

9

-2

Freshfields Bruckhaus Deringer

18

N/A

103

10

-2

Herbert Smith Freehills

22

67

97

11

-2

Sidley Austin

15

47

91

12

+1

Hogan Lovells

20

50

84

13

+1

Norton Rose Fulbright

18

51

77

14

+2

Stephenson Harwood

16

47

70

15

-4

Davis Polk & Wardwell 11

28

66

 

16

-1

Kirkland & Ellis

22

31

64

17

+4

Skadden, Arps, Slate, Meagher & Flom

11

34

53

18

NEW

Holman Fenwick Willan

14

34

52

19

+6

Ashurst

12

15

52

20

-2

Morrison & Foerster

11

21

46

21

-2

Latham & Watkins

14

19

43

22

NEW

Eversheds

12

23

43

23

-3

Pinsent Masons

16

19

41

24

NEW

Ropes & Gray

10

30

41

25

NEW

Slaughter and May

13

21

40

 

HONG KONG DOMESTIC

2014

RANK

 

CHANGE

FROM 2013

FIRM

PARTNERS

 ASSOCIATES

TOTAL

FEE-EARNERS

1

=

Deacons

51

143

253

2

=

Woo Kwan Lee & Lo

33

36

86

3

=

Li & Partners

7

34

56

4

=

Wilkinson & Grist

23

22

54

5

NEW

Boughton Peterson Yang Anderson

16

15

44

6

-1

P.C. Woo & Co

15

24

43

7

NEW

Howse Williams Bowers

15

20

41

8

-2

Gallant Y.T. Ho & Co

16

13

39

9

=

ONC Lawyers

8

24

39

10

-3

Hastings & Co

11

17

37

11

-1

Robertsons

13

19

36

12

NEW

Stevenson, Wong & Co

11

18

33

13

NEW

Oldham, Li & Nie

9

11

31

14

-6

Haldanes

15

10

29

15

NEW

Smyth & Co

7

12

28

Deacons is once again the largest Hong Kong law firm, boasting 253 fee-earners, including 51 partners. The firm is also the only Hong Kong outfit to feature in the Asia Top 50 table. One notable entry is Howse Williams Bowers, which slots in at #7. The firm has grown rapidly since its establishment in 2012, and now comprises 41 feeearners, including 15 partners. Boughton Peterson Yang Anderson (44), Stevenson, Wong & Co (33), Oldham, Li & Nie (31) and Smyth & Co (28) are all new entrants this year, partially due to the extension of the Hong Kong-headquartered firms table to include 15 firms.

The Hong Kong International table features many changes, with new firms entering the market and the continuous lateral recruitment of lawyers between fiercely competitive firms. Mayer Brown JSM (174) climbs to the top spot from third in 2013, while Linklaters (157) rises two places to fourth. Fellow Magic Circle firm Allen & Overy (113) jumps five places to #7, while Ashurst (52) leaps six places to #19. Davis Polk & Wardwell falls (66) four places down to #15, the largest drop in the table. With 170 fee-earners in its Hong Kong office, Baker & McKenzie is the only law firm in the table to hold the same position (#2) from last year.

JAPAN INTERNATIONAL

 

2014

RANK

  

 

CHANGE

FROM 2013

FIRM

PARTNERS

ASSOCIATES

TOTAL

FEE-EARNERS

1

=

Baker & McKenzie

50

73

157

2

=

Morrison & Foerster

41

61

118

3

=

Bingham McCutchen

31

43

81

4

=

White & Case

17

43

65

5

+1

Jones Day

16

28

50

6

-1

Clifford Chance

8

31

47

7

=

Herbert Smith Freehills

7

33

40

8

+2

Linklaters

5

26

34

9

-1

Hogan Lovells

6

21

33

10

-1

Squire Patton Boggs

11

19

32

11

=

Orrick, Herrington & Sutcliffe

9

16

28

12

=

Ashurst

8

12

24

13

NEW

K&L Gates

10

12

23

14

-1

DLA Piper

4

19

23

15

-1

Freshfields Bruckhaus Deringer

5

10

21

 

JAPAN DOMESTIC

 

2014

RANK

 

CHANGE FROM 2013

FIRM

PARTNERS

ASSOCIATES

TOTAL FEE-EARNERS

1

=

Nishimura & Asahi

97

324

467

2

+1

TMI Associates

83

257

384

3

+2

Mori Hamada & Matsumoto

96

262

358

4

=

Nagashima Ohno & Tsunematsu

90

195

315

5

-3

Anderson Mori & Tomotsune

93

176

301

6

=

City-Yuwa Partners

44

66

128

7

=

Oh-Ebashi LPC & Partners

43

45

118

8

+1

Atsumi & Sakai

40

45

100

9

-1

Kitahama Partners

30

55

90

10

=

Nakamura & Partners

35

45

84

 

Nishimura & Asahi cements its standing as the largest law firm in Japan with 467 fee-earners, 13 more than in 2013. TMI Associates (384) climbs one place in the table to clinch second, while Mori Hamada & Matsumoto (358) jumps two places to solidify its position as the third-largest firm in Japan. Atsumi & Sakai (100) climbs one place to #8, with six more fee-earners, including three more partners, than in 2013. Five Japanese law firms feature in the Asia Top 50 table, with several firms opening new offices outside Japan since September last year . Anderson Mori & Tomotsune opened in Shanghai last September and in Singapore last November, while Nishimura & Asahi established a Shanghai office in February this year. Nagashima Ohno & Tsunematsu launched a Bangkok office this April and a Ho Chi Minh City practice two months later in June. Meanwhile, Mori Hamada & Matsumoto set up shop in Yangon this April.

The top four international firms in Japan remain unchanged from last year, with Baker & McKenzie (157) and Morrison & Foerster (118) both commanding offices comprising more than 100 fee-earners. Linklaters (34) jumps two places to #8, while K&L Gates (23) is a new entrant at #13, after making a host of partner hires across Asia in 2014, including Haig Oghigian, Philip Hyde, Takahiro Hoshino and Takahiro Tsumagari in Tokyo.

SOUTH KOREA INTERNATIONAL

 

2014 RANK

 

FIRM

PARTNERS

ASSOCIATES

TOTAL FEE-EARNERS

1

Cleary Gottlieb Steen & Hamilton

2

11

14

2

Paul Hastings

3

5

9

3

Clifford Chance

1

4

6

4

Herbert Smith Freehills

2

3

5

5

Simpson Thacher &Bartlett

1

4

5

6=

Covington & Burling

1

2

4

6=

Sheppard, Mullin, Richter & Hampton

1

1

4

6=

Baker & McKenzie

1

1

4

9=

K&L Gates

2

1

3

9=

Ropes & Gray

2

1

3

9=

McDermot Will & Emery

2

1

3

 

SOUTH KOREA DOMESTIC

 

2014

RANK

 

CHANGE

FROM 2013

FIRM 

 

PARTNERS

ASSOCIATES

TOTAL FEE-EARNERS

1

=

Kim & Chang

120

N/A

1000

2

+1

Lee & Ko

139

335

493

3

-1

Bae, Kim & Lee

158

240

481

4

=

Shin & Kim

140

180

383

5

=

Yulchon

139

188

377

6

=

Yoon & Yang

109

168

340

7

=

Barun Law

N/A

N/A

169

8

=

Jipyong

54

83

151

9

NEW

DR & AJU

9

111

128

10

-1

Hwang Mok Park

45

61

123

 

With 1,000 fee-earners, including 120 partners, Kim & Chang is the largest firm in South Korea, as well as the largest non-Chinese firm in Asia. Lee & Ko (493) displaces Bae, Kim & Lee (481) as the second-largest firm in Korea. The firm grew by 33 fee-earners, including 10 partners, in the last 12 months. While Shin & Kim (383) and Yulchon (377) retain their positions as the fourth and fifth-largest firms, respectively, the former’s headcount grew by two fee-earners since September 2013, while the latter grew by an impressive 47 fee-earners. International law firms have their sights set on Korea, especially since the signing of U.S. and EU Free-Trade Agreements with Korea in 2011 which allow American and European law firms to open offices in Korea. So far, more than 20 international law firms have set up shop in Seoul, with several more waiting on the sidelines. To reflect this trend, ALB has created a table featuring the largest international law firms in Korea. It is important to note that the office sizes are small, partially due to restrictions that remain in force until Korea’s legal market completely opens up in 2016, which limit international firms to largely international dispute resolution and outbound work. Cleary Gottlieb Steen & Hamilton boasts the largest international practice in Korea with 14 fee-earners. Paul Hastings is the second-largest firm, with three partners on the ground in Seoul and another six fee-earners. As Korea’s legal market moves closer to full liberalisation in 2016, one can expect to see more international firms set up offices in Seoul, existing firms expand their practices, and perhaps some consolidation between international and local firms.

TAIWAN

2014 RANK

 

CHANGE

FROM 2013

FIRM

PARTNERS

ASSOCIATES

TOTAL FEE-EARNERS

1

=

Lee and Li

56

371

427

2

=

Formosa Transnational

19

68

101

3

+2

Tsar & Tsai

14

38

74

4

=

Chien Yeh Law Offices

15

39

66

5

-2

Baker & McKenzie

30

34

64

6

+2

LCS & Partners

N/A

N/A

53

7

=

Formosan Brothers

18

23

43

8

-2

Deep & Far

N/A

N/A

35

9=

=

Jones Day

9

18

28

9=

NEW

Lee, Tsai & Partners

9

12

28

 

Lee and Li retains its spot as the largest firm in Taiwan with 427 fee-earners, 300 lawyers more than Formosa Transnational, the secondlargest Taiwanese firm. Lee and Li is also the only Taiwanese firm in the Asia Top 50 table. Tsar & Tsai (74) climbs two places this year, adding 18 additional fee-earners from last year. Meanwhile, Baker & McKenzie (64) drops two spots in the table to fifth.

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SOUTH/SOUTHEAST ASIA

South Asia and Southeast Asia are notable highgrowth areas. The regions have seen a rise in M&A activity over the past couple of years and a visible surge in the first half of 2014. The encouraging growth rates, attractive manufacturing costs and burgeoning middle class of several jurisdictions are likely to further stimulate dealflow in the region.

A significant upcoming development is the integration of the 10 members of the Association of Southeast Asian Nations (ASEAN) into the ASEAN Economic Community (AEC). The AEC, which is expected to launch by the end of 2015, will create a trading bloc of more than 600 million people with a GDP exceeding $5.6 trillion, which would make it the seventh-largest economy in the world. The AEC is unlikely to be an immediate game changer in the region, as foreign ownership restrictions are not expected to change substantially in the bloc’s early days. Nevertheless, the AEC should open more doors for legal work, especially in the financial services, real estate, telecommunications and consumer goods sectors. Meanwhile, India has struggled with sluggish growth for several years, with the current GDP growth rate fluctuating around 5 percent.

However, the election in May of the country’s new Prime Minister, Narendra Modi, could turn things around, lawyers say. Modi has vowed to revive economic growth, cut legal and regulatory red tape, and construct new roads, factories, power lines, high-speed trains and even 100 new cities. Lawyers and industry watchers are cautiously optimistic about the next 12 months, and expect deal activity to pick up slowly but surely. Whether this will have a direct impact on the volume of legal work passing through Indian law firms, and subsequently the size of the firms, remains to be seen.

INDIA

 

2014

RANK

 

CHANGE

FROM 2013 

 

FIRM

PARTNERS 

ASSOCIATES

TOTAL

FEE-EARNERS

1

=

Amarchand & Mangaldas & Suresh A. Shroff & Co

86

619

705

2

=

Khaitan & Co

81

291

372

3

=

Luthra & Luthra

44

250

350

4

=

J. Sagar Associates

78

208

312

5

=

AZB & Partners

19

221

240

6

NEW

Lakshmikumaran & Sridharan

39

171

210

7

-1

Desai & Diwanji

17

156

173

8

-1

Trilegal

23

125

172

9

=

Wadia Ghandy & Co

32

125

160

10

+1

DSK Legal

12

100

150

11

-1

M.V. Kini & Company

11

139

150

12

-4

Fox Mandal

36

95

140

13

-1

Mulla & Mulla & Craigie Blunt & Caroe

14

86

122

14

=

Economic Laws Practice

28

91

119

15

NEW

Anand And Anand

19

95

115

16

-3

Kochhar & Co

34

78

112

17

NEW

Rajani, Singhania & Partners

22

70

92

18

NEW

Vaish Associates

12

78

90

19

NEW

Nishith Desai Associates

8

64

72

20

NEW

HSA Advocates

16

54

70

21

NEW

Khaitan Sud & Partners

13

50

65

22

-7

Juris Corp

13

51

64

23

-3

IndusLaw

11

53

64

24

NEW

Gagrats

12

45

60

25

-7

Majmudar & Partners

9

50

59

 

Amarchand & Mangaldas & Suresh A. Shroff & Co (705 fee-earners) consolidates its place as the tenth-largest firm in Asia and the largest in India, boasting more than 300 fee-earners than its nearest Indian competitor, Khaitan & Co (372). Luthra & Luthra (350), J. Sagar Associates (312) and AZB & Partners (240) make up the rest of the largest five Indian law firms, with their positions unchanged from 2013. Juris Corp, Majmudar & Partners and IndusLaw drop down the rankings, largely due to a number of new entrants that feature in the table this year. Of note is the merger of Rajani Associates and Singhania & Partners to create Rajani, Singhania & Partners in October 2013, which catapults the firm into 17th place with 92 fee-earners, including 22 partners.

INDONESIA

 

2014

RANK

CHANGE FROM 2013

FIRM 

PARTNERS

ASSOCIATES

TOTAL FEE-EARNERS

1

+1

Ali Budiardjo, Nugroho, Reksodiputro

15

73

106

2

-1

Hadiputranto, Hadinoto & Partners

16

75

93

3

=

Assegaf Hamzah & Partners

16

63

89

4

=

Hanafiah Ponggawa & Partners

11

56

70

5

=

Lubis Ganie Surowidjojo

9

55

64

6

=

Soewito Suhardiman Eddymurthy Kardono (SSEK)

6

45

63

7

+2

Makarim & Taira S.

11

42

57

8

NEW

Makes & Partners

4

40

44

9

-1

Soemadipradja & Taher

8

31

42

10

-3

Mochtar Karuwin Komar

6

29