US firm Morrison & Foerster has performed a big old u-turn and will re-open its office in Singapore after leaving less than three years ago.
In 2009, at the height of the financial crisis, the firm shut its office down and fled the City State. But times have changed and so has MoFo's mind. It reckons its Southeast Asian business is booming and that the time is ripe for a triumphant return to the regional hub.
"We’re bullish that Singapore will continue to grow and become a major global financial centre" said MoFo's anointed Singapore managing partner, Eric Peisner. "We’re also committed to grow in Singapore".
Baby steps, though. Initially just Peisner and fellow partner Eric Roose will man the new office. But once they get the loos flushing and a sign up on the door, they're expected to draft in a shedload of support from other branches of the firm. So that's good news for MoFo lawyers named Eric in search of clean pavements and questionable client entertainment.
Singapore is enjoying something of a legal renaissance (except in capital markets). Last month Freshfields announced that it was also de-mothballing its office. And twenty three other firms are waiting in Raffles to hear whether they've got their Qualifying Foreign Law Practice licences, including DLA Piper, Olswang and Stephenson Harwood. Though on past form everyone will probably bugger off again in a couple of years.
Tip Off ROF
In 2009, at the height of the financial crisis, the firm shut its office down and fled the City State. But times have changed and so has MoFo's mind. It reckons its Southeast Asian business is booming and that the time is ripe for a triumphant return to the regional hub.
"We’re bullish that Singapore will continue to grow and become a major global financial centre" said MoFo's anointed Singapore managing partner, Eric Peisner. "We’re also committed to grow in Singapore".
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You said that last time. |
Baby steps, though. Initially just Peisner and fellow partner Eric Roose will man the new office. But once they get the loos flushing and a sign up on the door, they're expected to draft in a shedload of support from other branches of the firm. So that's good news for MoFo lawyers named Eric in search of clean pavements and questionable client entertainment.
Singapore is enjoying something of a legal renaissance (except in capital markets). Last month Freshfields announced that it was also de-mothballing its office. And twenty three other firms are waiting in Raffles to hear whether they've got their Qualifying Foreign Law Practice licences, including DLA Piper, Olswang and Stephenson Harwood. Though on past form everyone will probably bugger off again in a couple of years.