The Lawyer Asia Pacific 150 is the only research report to provide a ranking of the top 100 independent local firms and top 50 global firms in the region. The report offers critical review of some of the fastest growing firms and their strategies, a country-by-country guide to leading legal advisers and legal services market trends, plus exclusive insight into the current business development opportunities in the Asia Pacific. Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
In this year’s offshore survey The Lawyer excluded firms’ fiduciary lawyers and partners to get a better reflection of what’s happening with the legal side of their businesses (see story).
Some firms are choosing to move away from fiduciary services - think Mourant du Feu & Jeune and Ozannes - while others are seeking to bolster their accountancy and wealth management businesses.
Horses for courses I suppose. One senior partner at Maples and Calder told me that Maples’ fiduciary side complements the law firm well. Indeed, chairman of Maples Finance David Brooks is overseeing an expansion into Montreal.
But for Mourant, founders of the fiduciary/offshore law firm model, ditching Mourant International Finance Administration (Mifa) and private client trust business MourantPrivate Wealth was key to its merger with Ozannes (see story).
Partners at the soon-to-be-merged entity believed that focusing on legal without the complications and influence of a fiduciary business was the most productive way of achieving success.
With Mourant Ozannes flying towards the top of next year’s offshore survey, which ranks firms by partner numbers, who’s going to argue? Fiduciary businesses are often profitable, but they can complicate a partnership and cause problems if the legal side wants to expand.
Carefully managed divestment of the fiduciary business can also free up the law firm, while at the same time allowing the old relationship to be fruitful for both parties.