UK-based market research firm Acritas has just published the second annual Asia-Pacific Law Firm Brand Index, with Baker & McKenzie placing first – and King & Wood Mallesons, Herbert Smith Freehills, Norton Rose Fullbright, and Kim & Chang rounding out the top 5.
As Acritas outlined in a media release issued today, the study “captured the law firm preferences of 363 senior legal buyers in the Asia Pacific region last year as well as 315 buyers from outside the region with international legal needs within key Asia Pacific jurisdictions.”
Baker & McKenzie leads
Acritas media release outlines the study results reflect that: “Baker & McKenzie had the strategic foresight to build footprint in the region and has continued that commitment over many years to build strength in depth. Its network across Asia Pacific and further afield, and its intrinsic connection with the US (now the most required foreign legal territory for Asia Pacific based multinationals), has made the firm an obvious go-to brand for many of the region’s legal buyers, particularly for international work types; Baker & McKenzie now leads the way as the most considered firm for multi-jurisdictional litigation and deals from clients in the region.”
“King and Wood Mallesons, however, retains dominance in usage for high value work in the region, along with Baker & McKenzie”, the release detailed.
Key takeaways from the report include:
- Success is built on international capabilities
- The US is playing in an important role in top level work
- The increasing importance of South Korea to multinationals across the globe
Local firms retain important advantages
Notably, as the report concludes: “There is also tremendous immediate opportunity for the strong local independent firms in the region. For markets where international firms are able to compete, most cannot offer the same depth of market knowledge and experience that local independent firms possess, and this will take many years to build.”
For more information about Acritas and its Asia Pacific Law Firm Brand Index, please contact Michelle Nesbitt-Burrell of Acritas at: +44 808 178 3020 or email firstname.lastname@example.org