Allen & Overy to open in SA
One of the world's largest law firms, Allen & Overy, is setting up an office in South Africa, potentially adding strong competition for corporate business, says a BDlive report.
The firm's initial focus will be on the banking and financing sectors, as well as advising on projects in the mining sector in sub-Saharan Africa. Last year the global firm advised clients on transactions worth $1trn and it is currently involved in multibillion-dollar deals in Nigeria, Chad and Guinea. The report adds Michael Duncan, who will relocate to South Africa to head the office, said the firm expected to grow the South African office to 40 lawyers by early next year. It had decided to follow its clients to Johannesburg, from where many drive their African operations. The office will open on 20 October with an initial complement of seven directors, including Duncan and Lionel Shawe. The lawyers who have been recruited are all from South Africa and the rest of the staff complement will also be recruited in South Africa. Full BDlive report