Legal markets improve, but the shadow of Covid-19 lingers

New and more contagious Covid-19 variants continue to penetrate the world’s major economies, but overall the Asia Pacific legal market continues to grow. We have seen a good level of hiring activity in the first quarter, particularly in January.

The massive disruptions of 2020 uncovered both challenges and opportunities for all legal practitioners. It is clear that some areas of the legal practice have suffered, but a few practices continue to grow. Law firms with highly regarded employment, corporate, and environmental sustainability practices are experiencing an increase in business as a result of uncertainties stemming from the pandemic.

Our half-year review provides an overview of the key appointments in Asia Pacific:

 

Appointments

  • Of countries in the region showing success in suppressing the Covid-19 pandemic, we see 39% growth in key appointments in 2021 compared to 2020.
  • The APAC lateral market was very active in the first quarter of 2021. January also saw the highest number of key appointments. We see a drop-off in May.

Locations 

  • Both India and Australia saw twice the number of key appointments compared to 2020. India also shares Hong Kong as the third busiest in terms of high-end key appointments.
  • Australia led the hiring spree with 58 significant hires in Q1 & Q2, followed by China (49) and India (46) & Hong Kong (46).
  • India observed a decreasing tendency in key appointments since March, possibly due to a worsening situation.

Practices

  • Corporate/M&A/Capital Markets practices dominated the key hires in the first quarter of 2021.
  • Corporate/M&A/Capital Markets, Projects/Construction/Infrastructure, and Employment & Workplace practices observed significant growth compared to 2020.
  • Corporate/M&A/Capital Markets practices dominated the key hires in the first quarter of 2021.
  • Corporate/M&A/Capital Markets, Projects/Construction/Infrastructure, and Employment & Workplace practices observed significant growth compared to 2020.
  • Despite a drop in Litigation/Dispute Resolution/Arbitration/Investigations practices, hiring in those areas remains popular.

Types

Published by Hughes Castell

Asia's Premier Firm for Global Legal, Compliance, Risk and Regulatory Executive Search

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