Go global or stay at home. It’s a dilemma that confronted Australia’s biggest law firms in the early 2010s, and it is playing out again in 2025.
A decade ago the choice was between China and the UK. Now it's about finding a way into the US market and tapping its vast reserves of private equity.
For some, such as Herbert Smith Freehills (HSF) and Ashurst, the preferred course has been to merge with US firms, even if the arrangements fell a long way short of full integration on issues such as pay.
Others are convinced it is better to stay independent and pick up work from firms in the US and elsewhere that don't have a presence in Australia.
