Allen & Overy opens in Australia

MAGIC-CIRCLE law firm Allen & Overy (A&O) has hired 17 new partners to launch its first presence in Australia in March 2010.

The vast majority of the new partners (14) have been recruited from local Australian law firm Clayton Utz, which has offices in Sydney, Perth, Brisbane, Canberra, Melbourne and Darwin. A&O is opening offices in Sydney and Perth, with key practices including energy, finance, mining, M&A, private equity, tax, media and technology.

Analysis of the local market indicated there was sufficient demand for such “a smaller high-end law firm that is integrated into a broad global network”, A&O said.

“As Australia develops closer ties with its major trading partners, especially across the Asia Pacific region, and as Australian banks and corporates continue to expand globally there is growing demand for legal advice that can seamlessly support that growth around the world,” commented senior partner David Morley.

“This move also improves access to the deep pool of high-quality lawyers that exists in the Australian legal market, making this the logical next step in our plans to expand our global network,” added Asia Pacific head Thomas Brown. A&O is inviting website applications from “talented and ambitious lawyers” interested in working for the firm in Australia.

Clayton Utz chief executive partner, David Fagan, admitted he was disappointed by the departures to A&O, but insisted the firm was still able to thrive in a increasingly competitive market.

“Partner movements such as this occur in the lifecycle of a firm. Clayton Utz is in excellent shape and continues to be one of the strongest performing firms in the market,” he said.

The news of A&O’s decision comes just over a month after the Norton Rose Group officially incorporated law firm Deacons Australia to extend its influence in the Asia Pacific region. More than 1800 Norton Rose fee-earners now work out of 30 offices worldwide, including Sydney, Perth, Brisbane, Canberra and Melbourne.