A&O pledges Singapore growth despite Allen & Gledhill setback

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  • Further questions for Wim Dejonghe:
    1) How do you expect to grow in Singapore?
    2) Is it really worth it?
    I question whether these mammoth firms really need to be everywhere in the modern age. Surely opening offices just adds costs that will no doubt be passed onto the client. Wouldn't it be better to rationalise the geographical spread and send lawyers to these countries as and when they are needed?
    Can anybody tell me what the necessity is?

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  • Anonymous @ 12:31 - I think Dejonghe just answered that one. It's where the growth is. It's where clients are going.

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  • Is it sustainable over a recession? If the Magic Circle pays London rates to their lawyers when their Singapore clients pay Singapore rates which are half of London's, how can they cope when there is insufficient work? Will they not retrench massively?
    The only sustainable model is the PwC \ EY KPMG model of country practices affiliated with single global branding, single global standard of quality delivery.

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  • Anon @ 1:03pm: so are you advocating a verein or similar alliance model (like CMS or Eversheds) instead of global financial integration? What's more important, the model used or the service delivered?

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  • why dont you redeploy the Aussie team there?

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  • Anon @ 1.03 pm: "If the Magic Circle pays London rates to their lawyers when their Singapore clients pay Singapore rates which are half of London's" - that is incorrect in fact. Singapore charge-out rates at my firm (MC) are in fact higher than the equivalent in London.

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