POWER COMBINATION TO HIT PACIFIC RIM
Written on the 16 November 2015
FOUR powerhouse global firms have put a combination in the pipeline which, if approved by vote this week, is expected to establish a new dominant legal force in the Pacific Rim.
Global firm Dentons, Chinese firm Dacheng, Singapore firm Rodyk & Davidson and Australian firm Gadens have recognised the need for unification in lieu of the growing number of Trans-Pacific trade groups, agreements and initiatives which demand large-scale international legal attention.
China's 21st Century Maritime Silk Road infrastructure program, formation of the ASEAN Economic Community and the Latin American-Pacific alliance are just three major cross-border instances which point to the Pacific Rim's importance across global trade, finance and manufacturing industries.
Gadens' national chairman Ian Clarke says the opportunity involving such major players is a stepping stone toward extended service in key emerging areas, securing a thriving future for all firms within the sector.
"We have been considering opportunities to support Gadens' ability to meet inbound client needs from Asia Pacific into Australia, as well as supporting our clients with global business interests and the combination with Dentons provides us with an ideal opportunity," says Clarke.
Dentons global CEO Elliott Portnoy echoed Clarke's sentiments, noting Gadens' mutual desire for legal cohesion between countries.
"This combination is about capturing talent for the benefit of our clients, and doing so in a way that complements the polycentric approach and innovative spirit on which our firm was built," says Portnoy.
"In these firms we recognise a similar ambition to bring clients more, to challenge the accepted and to add value in everything that we do."
The brass tacks of the agreement will see Gadens and Rodyk granted an ability to follow their clients across the world, combining respective strengths in large-scale finance and arbitration with the global reach of Dentons and Dacheng's key foothold in the Chinese market.