Earlier this year, international law firm HFW hired three new partners in Singapore as it continued the steady growth of that office. The firm has also been expanded in Asia generally, after entering into alliances with firms in Singapore, China and Indonesia in 2015, 2016 and 2017, respectively. Ranajit Dam speaks to Richard Crump, HFW’s global senior partner, Mert Hifzi, the firm’s Singapore office head, and Australia managing partner Gavin Vallely on the expansion strategy so far, and what the next few years hold.
ALB: Aside from bulking up the Singapore office, HFW has also been expanding in the Asia-Pacific through alliances. How would you describe the overall strategy for HFW in the region, and what's been driving it?
Crump: We are a global, sector-focused law firm. Our strategy is to be the world's leading firm across our six key industries: commodities, aviation, shipping, construction, insurance and energy. A key part of that strategy has been building capability in the major international centres for each of those sectors. The Asia-Pacific region has been a significant driver of growth for global businesses, so it's also been an area of significant growth for us. With trade moving east, particularly in China, we need to have expertise and scale across the region to provide the best service to clients who are themselves expanding and growing in these areas.
Hifzi: You can’t expect the client to come to where you are; you've got to go to where the clients are. You've got to go where the work is and you really need to be on their doorstep. So, it just made a whole heap of sense for us to be expanding in this region. The opportunities are huge and unlike some of the more mature jurisdictions, where it’s highly competitive and the relationships are very institutionalized, Asia provides opportunities because it’s a very dynamic, growing market. The fact that relationships are less institutionalized means that people are ready to embrace change and look at different factors. This all creates opportunity for law firms.
ALB: The firm now has offices in Singapore, Hong Kong and three in Australia, as well as alliances in China, Indonesia and Singapore. Do you feel you have Asia’s important markets covered, or do you plan to expand your reach further?
Crump: China is obviously a huge market. We also have three offices in Australia, Indonesia is the biggest economy in Southeast Asia and Singapore is the hub for the region. We now have more than 200 lawyers across seven offices in Asia-Pacific, so I think we are well covered. We will obviously look at new opportunities, but any firm has to balance investment against the need to consolidate. We also plan to invest further in our existing offices, which is obviously what we've done recently in Singapore by bringing in three outstanding partners to boost our regional transactional practice. We're now one of the largest international firms in the market.
ALB: What do you expect the next few years will hold for the firm in Asia? Where do you see the growth coming from?
Crump: We expect to see growth in each of our offices and practices in the region. We have ambitious plans in Australia and while we have already achieved significant growth in Singapore, as the trading hub of Asia and an increasingly important market for disputes, we see scope for further growth. We also see significant opportunities in construction and infrastructure, and we plan to continue to develop our transactional offering across the region, following our latest hires in Singapore.
Hifzi: I think our focus for the next couple of years or so will be to grow and consolidate our existing offices in Asia and really try and drive the work that is aligned with our industry groups. That said, we are bullish that there is more room for growth here, not just in Singapore, but the region generally. I think we really punch above our weight in this part of the world. We are a law firm that’s open to exciting possibilities, and we encourage entrepreneurial behaviour, so we will keep our eyes open for more opportunities.
Vallely: Australia is a key component of our Asia-Pacific growth strategy. HFW was one of the first international firms to establish a significant presence in Australia when we opened our Melbourne office in 2006 and we now have offices in Melbourne, Sydney and Perth with a team of more than 80 lawyers. Over the last four years we have doubled the size our practice in Australia. We attribute our success to the quality of our people, the relevance of our genuine sector expertise to the industries that underpin the Australian economy and the seamless service we are able to deliver with our colleagues in the Asia-Pacific throughout the region and other major international trade centres. We are optimistic about maintaining strong growth across all of our sector groups over the next few years, with increasing levels of activity in the energy, mining and agribusiness sectors, and continuing inbound investment in Australia's booming infrastructure and residential construction sectors where we have a rapidly expanding practice advising Asia-Pacific investors on Australian projects. Our aim is double the size of our business in Australia in the next four years.
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