The traditional top tier of Aussie firms is coming under increased pressure from regional and international firms, according to league tables released this week.
Amongst the internationals, Norton Rose has made the most dramatic progress, and is now ranked fifth in Australasia by volume of deals.
The Silver Circle firm - recently merged with Deacons - made its first foray into the Australasian MergerMarket league tables for M&A this year. Australia accounted for 21.7% of Asia-Pacific M&A in the first half of the year, with China and Hong Kong accounting for 30%. Norton Rose - with a fat finger in both those particular pies - is the top ranked non-Australian firm by deal volume. Time will tell whether bosses at the four firms sitting above NR should be sitting comfortably, or peeking down nervously.
And if competition from overseas wasn't enough, the top tier of firms are also seeing increased competition from regional firms who seem to be coalescing on an almost weekly basis. This week specialist IP firm Griffith Hack merged with Perth firm Mallon & Co, to give it a national footprint.
Meanwhile Macpherson & Kelley - who earlier this month expanded by consolidating two Sydney practices - this week announced a merger with one of the oldest Hobart firms, Dobson Mitchell & Allport. Both Griffith Hack and Macpherson & Kelley now boast national footprints and rosters of 230 or so personnel.
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Amongst the internationals, Norton Rose has made the most dramatic progress, and is now ranked fifth in Australasia by volume of deals.
The Silver Circle firm - recently merged with Deacons - made its first foray into the Australasian MergerMarket league tables for M&A this year. Australia accounted for 21.7% of Asia-Pacific M&A in the first half of the year, with China and Hong Kong accounting for 30%. Norton Rose - with a fat finger in both those particular pies - is the top ranked non-Australian firm by deal volume. Time will tell whether bosses at the four firms sitting above NR should be sitting comfortably, or peeking down nervously.
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And if competition from overseas wasn't enough, the top tier of firms are also seeing increased competition from regional firms who seem to be coalescing on an almost weekly basis. This week specialist IP firm Griffith Hack merged with Perth firm Mallon & Co, to give it a national footprint.
Meanwhile Macpherson & Kelley - who earlier this month expanded by consolidating two Sydney practices - this week announced a merger with one of the oldest Hobart firms, Dobson Mitchell & Allport. Both Griffith Hack and Macpherson & Kelley now boast national footprints and rosters of 230 or so personnel.