It is no secret that 2021 was a big year for M&A in Asia. As the impacts of the COVID-19 pandemic began to lessen, deals once again picked up and the future began to look brighter. As activity increased into a steady flow of blockbuster deals, lawyers found their hands full — and their expertise in hot demand. Now, as 2022 is well and truly underway, lawyers are strapping in for another eventful year of work.

Law firms might not have been unfamiliar with technology prior to COVID-19, but the pandemic has placed that aspect of their operations under the direct spotlight. As a result of this, law firm CTOs and CIOs have been emerging as critical players in their organisations’ continued survival and growth. We speak to four CTOs and CIOs on how they see their role evolving as their firms do.

Over the past few years, law firms and lawyers have grappled with a rapidly changing business landscape, thanks in large part to the COVID-19 pandemic. Along with new ways of working, the industry has seen the emergence of new practice areas. For legal networks, this has meant guiding their clients through uncertainty.

As environmental, social and governance (ESG) issues take centre stage around the world, governments are taking steps to create investment opportunities and construct a more environmentally friendly operating environment. Lawyers say Thailand, a leader in ESG disclosure in Southeast Asia, is well placed to court the benefits of such a shift. 

Crypto and blockchain investments in Asia-Pacific hit $3.1 billion in 2021, up from just $386.3 million in 2020, according to KPMG. But what this jump also means is that Asia’s key business hubs are likely to tighten their cryptocurrency regulations, as awareness of associated risks grows.

As the impact of COVID-19 slowly recedes, the Philippine economy is showing promising signs of recovery. In a February interview with CNBC, Secretary of Finance Carlos Dominguez said the country had made significant progress containing the pandemic and that he expected a “return to normalcy” this year.

UK firm Mishcon de Reya has spearheaded the Greener Litigation pledge, which aims to make the disputes process more environmentally friendly. Alexander Rhodes, partner and head of the firm’s ESG-focused practice, Mishcon Purpose, says the next step involves looking overseas.

In February, Adrian Tan, the new president of the Law Society of Singapore, called on the legal industry to modernize in order to staunch the flow of lawyers leaving the profession, saying it was “tougher to be a young lawyer now, than at any time in history.” While firms are adjusting policies to be more accommodating, senior practitioners advise junior lawyers to enter the profession with a game plan and make finding their passion a priority.

Singapore Big Four firm Rajah & Tann has joined local mental health non-profit WorkWell Leaders as a founding member.

Even as the pandemic begins to wind down across the world, legal services are increasingly being delivered virtually. Law firms have started to bring employees back into the office, but it is clear that there is no going back to the pre-COVID days.