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ARTICLE · 13 DECEMBER 2022

The View From Offshore

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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Anthony McKenzie (AM): 2021 was a blockbuster year for many offshore law firms in Asia. Booming deal flow saw revenues and profits surge. In order to service their clients,...

GlobalFinance and Banking
Anthony McKenzie
Anthony McKenzie
Michael Padarin
Michael Padarin
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Here, Carey Olsen managing partners Anthony McKenzie (Singapore) and Michael Padarin (Hong Kong) reflect on significant events and trends of 2022, how they have impacted the offshore legal market in Asia and how they will continue to shape the year ahead.

LOOKING BACK ON 2022, WHAT WERE SOME OF THE MAJOR EVENTS/TRENDS THAT IMPACTED THE WORK YOU DID AS AN OFFSHORE LAW FIRM? DO YOU SEE THESE IMPACTS BEING FELT GOING INTO 2023?

Anthony McKenzie (AM): 2021 was a blockbuster year for many offshore law firms in Asia. Booming deal flow saw revenues and profits surge. In order to service their clients, law firms increased their headcount. Fast forward to 2022 and beyond and the economic outlook is very different. Asia deals are being threatened by geopolitics, interest rate hikes, spiralling inflation, supply chain disruption, and slowing growth, especially in China which is Asia's largest offshore legal market.

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