Can Herbies succeed in Singapore without the QFLP?

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  • As most lawyers in Singapore know, "local" firms here are still heavily protected. The profits of these firms are all channelled to a few well connected partners, rather than paid to lawyers and junior partners. Hence the lawyers and junior partners leave and join the international firms (where they get paid more) and the well connected partners rake in huge profits (significantly higher than any magic circle partner) and are also the same people participating in decisions about how the market will be liberalised. Good for the legal market and Singapore lawyers and the business environment? No. Good for the lucky few old time partners? You bet.

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  • Which jurisdiction does not have old time partners trying to protect their earnings and esteemed positions?

    Mark my words though, the pressure is on Singapore to liberalised. When that happens, the local big firms will be squeezed out or forced to merge with the internationals. Then these top partners will experience being "second class" citizens, and have a good taste of how they treat their juniors!

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