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Deloitte to offer legal services through new foreign law practice
DELOITTE has become the latest Big Four accounting firm to offer legal services, as part of a move towards being a one-stop shop for clients. Announced on Thursday, the new Deloitte Legal International is a licensed foreign law practice, providing full international legal services using Singapore as a regional hub to serve clients in South-east Asia.
The new practice is part of the global Deloitte Legal network of over 2,000 legal professionals in more than 80 countries. Independent and legally separate from other Deloitte entities, it will be led by managing director Rashed Idrees, who has been a partner in international and regional law firms for the past decade.
Deloitte Legal International will serve clients across sectors including infrastructure, power, oil and gas, mining, financial services, chemicals, retail, wholesale and distribution, technology, telecommunications, and real estate. It will be able to advise clients in areas such as commercial law; corporate, mergers and acquisitions; infrastructure, projects and project finance; and international trade and structured trade and commodity finance. It will also offer specialist jurisdictional experience across numerous developing markets.
Deloitte's announcement follows tie-ups announced last month by PwC and EY to boost their legal service offerings. In July, PwC said veteran corporate lawyer and deputy chairman of WongPartnership, Rachel Eng, would be leaving her firm to join a Singapore law firm that is part of PwC’s global legal network. EY announced that Evelyn Ang, previously a senior partner at Dentons Rodyk & Davidson, has set up Atlas Asia Law Corporation, which will join EY’s global network as an independent member firm.