Former lawyers from Kirkland & Ellis and Sidley Austin join a law firm affiliated with Alvarez & Marsal
In recent developments, it has been noted that the search results do not provide any information regarding the relationship between Broadfield and Alvarez & Marsal Inc, and their respective Asia-Pacific practices, following partner hires from Sidley Austin and Kirkland & Ellis. A single document referenced pertains to diversity on New York's bench, but offers no details about the firms or their Asia-Pacific practices.
Broadfield, a law firm or consultancy, and Alvarez & Marsal Inc, a global professional services firm specialising in turnaround management and performance improvement, are distinct entities. Each maintains its own Asia-Pacific practices, and the hiring of partners from firms like Sidley Austin and Kirkland & Ellis could be part of their respective strategies to expand or bolster their presence in the region. However, without explicit details from the search results, a concrete connection or relationship cannot be confirmed.
It's worth mentioning that Broadfield is often perceived as the legal operations arm of Alvarez & Marsal. All member firms of Broadfield retain their own governance and profits and loss. SHPLS, a legal services venture of Alvarez & Marsal, marks the firm's expansion into direct legal services provision, following a model similar to that employed by the Big Four accounting firms with legal practices.
The landscape for the Big Four's legal arms in Asia is challenging, with KPMG's legal ventures in Hong Kong and Australia having collapsed, and EY shuttering its legal arm - LC Lawyers - in Hong Kong. The Big Four face increasing scrutiny and operational difficulties over potential conflicts of interest and regulatory challenges in various jurisdictions in Asia. However, Chan & Jamison, affiliated with Deloitte Legal, continues to operate in Hong Kong with nine lawyers including two partners.
Tiang & Partners, associated with PwC, counts five partners in Hong Kong. Notably, Peter Sacripanti chairs SHPLS, having previously held the same position at McDermott Will & Emery. SHPLS operates as a subsidiary of LSS Strategic Partners, which shares the same parent company with Alvarez & Marsal Inc, but operates entirely separate from A&M consulting. SHPLS has been rebranded as Broadfield, marking Alvarez & Marsal's expansion into direct legal services provision.
Broadfield aims to become an international, full-service law firm through rapid acquisition, primarily in the UK and US markets, and potentially extending into continental Europe. Alvarez & Marsal Inc will explore opportunities for Broadfield to partner with them in certain service areas, with AMLS providing Broadfield with management services, including technology and back-office services, and assisting in procuring investment capital for growth.
As more information becomes available, the relationship between Broadfield, Alvarez & Marsal Inc, and their respective Asia-Pacific practices following partner hires from Sidley Austin and Kirkland & Ellis will likely become clearer.
In the realm of dispute resolution, it's plausible that Broadfield, being a law firm or consultancy, and Alvarez & Marsal Inc, a global professional services firm with a focus on turnaround management and performance improvement, could collaborate in certain service areas, given that they operate separately yet share the same parent company. As both firms expand their Asia-Pacific practices through strategic hires from firms like Sidley Austin and Kirkland & Ellis, the fusion of finance, business, and technology is expected to play a significant role in their growth and success. The ongoing landscape in Asia, particularly for the legal arms of the Big Four accounting firms, provides a backdrop of challenges, scrutiny, and operational difficulties, thus making the partnership between Broadfield and Alvarez & Marsal Inc intriguing to watch.
