Accountancy giant PricewaterhouseCoopers (PwC) has set its sights on the Australian and Asia Pacific legal markets with the launch of a local legal arm.
Headed by former King & Wood Mallesons partners Tony O’Malley and Tim Blue, the offering is a “natural adjacent and complementary offering to a number of our core competencies”, according to PwC Australia chief executive Luke Sayers.
The launch of an Australian legal services business is part of a wider plan from PwC Legal to expand its global footprint. This has already seen the accountant’s UK legal arm convert to an ABS, with PwC itself taking an equity stake in the law firm.
Asia is of particular interest to the business, with PwC Legal hoping to tap into the two-way traffic that sees Asian business investing in Europe while global companies continue to eye opportunities in the East.
While the new launch will initially focus on the Australian market, O’Malley says he plans to develop “complementary legal practices in key regional markets”.
PwC Legal’s march on Asia has begun.
Also on TheLawyer.com:
- International firms continue to tap into the Asian story, with Stephenson Harwood planning to open in Seoul and Pillsbury launching in Beijing
- Singapore’s WongPartnership continues to focus on countries in the Association of Southeast Asian Nations with the launch of an association in Indonesia
- And, King & Wood Mallesons and Baker & McKenzie have the strongest brands in Asia according to a survey of in-house lawyers in the region