Baker & McKenzie targets US$1 billion revenue from Asia
New Asia Pacific chairman Gary Seib says increasing trade flows and deals involved in the ‘One Belt, One Road’ initiative likely to offer huge opportunities
Baker & McKenzie, the international law firm, is planning an expansion in Asia Pacific to grow its annual revenue to US$1 billion from the current US$660 million, according to newly appointed regional chairman, Gary Seib.
Also on the firm’s global executive committee member, Seib said he expects a massive growth in demand for legal services from the “One Belt, One Road” initiative, an expected increase in mergers and acquisitions, and growing trade flows across the region.
Seib said top of his agenda is to take the firm – which has 17 offices in Asia Pacific – to what he called “the next level, by having the best people delivering services to the best clients”.
“Although the Chinese economy has slowed, it is still growing at 6.7 per cent a year, which is higher than any western countries,” he said.
Started in Chicago in 1949, Baker & McKenzie has 77 offices globally in 47 countries with 13,000 staff, making it one of the world’s largest full-service legal firms.
The Asia Pacific region accounts for a quarter of its global revenues, which hit US$2.62 billion last year.