The entrance of international giants: a new legal landscape for the Sydney market
Updated: Aug 13, 2020
Over the past few years, a number of international top-tier law firms have opened their doors in the Sydney market. Joining the scene from the UK, USA and Asia, some new entrants have involved major mergers with Australian firms. However, the most popular way of entering the market has been through the opening of high-end specialised practices. For example, Hogan Lovells and Pinsent Masons both opened their first Australian offices with a focus on projects in the energy, natural resources and infrastructure sector. These firms are tapping into specific opportunities within the Australian market, rather than seeking to overtake the already well-established full-service firm culture.
One major driving factor is that Australia is one of the key investors in the international landscape, particularly in Asia. These international firms are seeking to strengthen their already existing international relationships and realising that they need to have an Australian presence to keep up with the continual globalisation of the legal industry.
This has opened up a whole new set of doors to Australian lawyers that were previously unavailable. There continues to be outstanding opportunities for Australian lawyers to join some major players in the international sphere. These firms themselves, equally require lawyers who are of an international calibre but also offer local knowledge.