Australia
| Clifford Chance has announced mergers with two Australian boutique law firms as part of its ambitious growth plans aimed at doubling Asian revenue in the next four years. The mergers, with Chang, Pistilli & Simmons (CP&S) in Sydney, and Cochrane Lishman Carson Luscombe (CLCL) in Perth, have been approved and will take effect from May 1. The new Australian operation will be known as Clifford Chance; the CP&S and CLCL’s partners and lawyers will be fully integrated within the international firm, creating an immediate 14-partner capacity for the firm in Sydney and Perth. Peter Charlton, Clifford Chance’s head of Asia, said: “Any credible growth strategy for the Asian legal market can no longer ignore the importance of the Australian market to the region, both as a destination for, and a source of, investment.” Ian Cochrane, CLCL senior partner, said: “Western Australia is of interest to any professional services provider, given its strong business growth, especially in energy and resources. By bringing together our firms’ established reputations in that sector, we can provide a truly global service to Australian inbound and outbound investors in energy and resources.” Clifford Chance is the latest of several international law firms, including Norton Rose and Allen & Overy, to establish an Australian presence, drawn by the possibility of advising on lucrative overseas investments in the country’s energy and mining assets. Clifford Chance has been investing heavily in new practices and personnel in countries it views as key growth markets. David Childs, the firm’s managing partner, added: “As globalisation enters a new phase, the balance of economic power – and our clients’ attention – is shifting to Asia, the Middle East, Africa and Latin America. In many of these markets, Clifford Chance is already known and widely respected. However, we need to continue to evolve our business to reflect these bigger changes, as witnessed by this important move in Australia.” |
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