Appleby: a fast-growing offshore firm boosts its network for clients
Appleby has led an impressive year of growth by significantly expanding its level of service and resource base. Not only did the fast-growing firm recently announce its merger with Isle of Man-based Dickinson Cruickshank, but less than two weeks later announced the launch of its office in the crucial growth market of Seychelles. It doesn’t stop there however, as recent regulatory changes in Mauritius allowed it to claim the title as the first foreign firm in Mauritius to be registered to practice both local and foreign law. To cap it off, it also opened a fiduciary and administration arm in Bahrain.
“It’s a positive message to our clients in the downturn that we’re continuing to forge ahead with our strategy to be the leading global offshore service provider,” says Hong Kong managing partner Frances Woo. “We’re bringing all of these offshore jurisdictions to Asia via our Hong Kong office, which strengthens our position in the market.”
The firm’s merger with Dickinson Cruickshank will make it the largest offshore firm by number of partners, as well as the first global offshore firm to launch an office on the Isle of Man.
Ground-breaking service
Clients are juggling numerous regulatory changes across all offshore jurisdictions and through the maze of new developments. This brings new opportunities for the way clients are serviced, says Woo. “Clients and their advisers have become very sophisticated and are interested in hearing about new uses and new innovations,” says Woo. “The offshore jurisdictions that Appleby covers – Cayman Islands, BVI, Bermuda, Jersey, Mauritius, Seychelles, and the Isle of Man – keep closely abreast of changes in the international financial community. Amendments to their respective legislations are regularly made in order to meet with business needs. Appleby is at the forefront in advising on these changes and can assist in differentiating one jurisdiction from another for the most efficient deployment.”
The firm has advised on some of the most important regional deals, such as the US$149m Lumena Resources IPO, the US$346m Sino-Forest Corporation share offer, and more recently, the US$67m Wisdom Marine Lines’ listing on Taiwan’s GreTai Securities Market. The latter is a significant deal as it follows the GreTai’s opening to foreign companies.
“The recent opening up of Taiwan’s stock exchange to foreign companies, and in particular Cayman Islands companies, has assisted and broadened the use of Cayman Islands in Taiwan,” says Woo. “Historically many of the larger Taiwanese businesses were going outside of Taiwan to list using Bermuda, Cayman Islands and/or BVI. Taiwan is now trying to attract both foreign businesses to Taiwan (particularly those in the technology arena) as well as Asian businesses which may find advantages to listing in their home region.”
2009: a growth odyssey
Appleby has experienced a solid year of growth despite the current economic conditions, whether advising clients on their outbound acquisitions, listing on non-Asian exchanges or conducting JVs with foreign partners. Having over 700 lawyers and staff spread across eleven offices – Bermuda, British Virgin Islands, Cayman Islands, Jersey, Mauritius, Seychelles, London, Hong Kong, Zurich, Bahrain and the Isle of Man – the firm offers unrivalled coverage for its clientele. The firm was finalist for the Offshore Law Firm of the Year, and won the Debt Market Deal of the Year in the ALB HK Law Awards 2009.
As a world-class legal, fiduciary and administration service provider, Appleby will lead the pack in providing the best resources and geographical reach for its clients.
To speak to an Appleby specialist, visit applebyglobal.com, or contact below.
Frances Woo
Managing partner, Hong Kong
8th Floor, Bank of America Tower
12 Harcourt Road, Central, Hong Kong
Phone +852 2905 5720
Fax +852 2524 5548
Email fwoo@applebyglobal.com