Goodwin to move staff from Hong Kong to set up in shop in Singapore
Goodwin Procter has become the latest law firm to set up in Singapore, after outlining plans to relocate staff from Hong Kong.
The Boston founded law firm’s new Singapore offices will become its second location in Asia, after Goodwin opened its Hong Kong office in 2008.
The launch is set to see two Goodwin partners, one counsel, and team of five associates move from Hong Kong to Singapore.
The opening of its Singapore offices will see Goodwin become the latest major law firm to set up shop in the island country amid an exodus of law firms from Hong Kong.
City law firm Addleshaw Goddard in May shuttered its Hong Kong offices due to the “unique set of challenges” it has faced in the city-state, as it sent lawyers to Singapore, London, and Dubai.
However, Goodwin said its Hong Kong hub will continue to be the focus of its Asia practice, in claiming its Hong Kong and Singapore offices will “work together seamlessly” to meet clients needs.
Singapore has increasingly come to rival Hong Kong as Asia’s primary business hub as companies have piled out of the city state in response to its burdensome Covid restrictions.
Goodwin said its new Singapore offices will boost its efforts to strengthen its position in India and other southeast Asian markets.
“Singapore is a key hub for the technology, life sciences, real estate, private equity and financial services industries for Southeast Asia and India,” Goodwin’s Asia practice chair Yash Rana said.
Goodwin currently employs more than 1,800 lawyers across its 15 global offices in the US, Europe, and Asia, including 50 in Hong Kong.