As the major hub for South East Asia, the island city-state of Singapore continues to attract investment. Yet it still posed a number of challenges for foreign outfits during 2014, ranging from local practice restrictions to fee pressure. Early in the year it was revealed that Herbert Smith Freehills (HSF) had missed out on its local licence, and would no longer be practising local law, as White & Case was given a conditional permit, with one year to meet certain targets.
Some others either didn’t grow or scaled back in the city. Among those to downsize significantly was DLA Piper, with a host of partners and lawyers departing as the firm restructured its Asia practice. UK outfit Lawrence Graham also ended its alliance with Singapore law firm PK Wong & Associates in April ahead of its merger with Wragge & Co, and toward the end of the year Addleshaw Goddard came under scrutiny for still having only one partner in the city despite having opened its office there two years ago.
