International law firm Andersen Legal has joined forces with Hong Kong's Kwok & Yih to expand its activities in the region. It is the latest in a series of partnerships involving international practices establishing a presence in Hong Kong ahead of China's entry to the World Trade Organisation (WTO) and the further opening of the mainland's legal sector.
In other moves, London firms Rowe & Maw and Dibb Lupton Alsop recently merged with local practices Koo and Partners and Lui & Carey respectively. United States firm Squire Sanders & Dempsey has joined with Hong Kong-Canadian practice Boughton Peterson Yang Andersen.
Andersen Legal is one of the world's largest law firms, and ranks among the top 10 in terms of revenue with gross fees of US$528 million.
International law firms based in Hong Kong, which are particularly active in areas such as fund-raising activities and mergers and acquisitions work, benefit from the in-depth market knowledge of their Hong Kong partners. Meanwhile local firms cite economies of scale, heightened competitiveness and global positioning among the advantages of forming international alliances.