King & Wood Mallesons
| Company type | Partnership (Swiss Verein) |
|---|---|
| Industry | Legal services |
| Predecessor | Mallesons Stephen Jaques, King & Wood PRC Lawyers, SJ Berwin |
| Founded | March 1, 2012 |
| Headquarters | Multiple (Asia-Pacific region) , Multiple countries including Australia, China, Hong Kong |
Area served | Australia, China, Hong Kong, Japan, Singapore, United States, UK, Europe, Middle East |
| Products | Legal services |
Number of employees | 3000+ |
| Website | www |
King & Wood Mallesons (KWM) stands as the largest international commercial law firm based in the Asia-Pacific region. It maintains a network of 26 offices staffed by more than 3,000 legal experts located throughout Australia, China, Hong Kong, Japan, Singapore, and the United States.
The current formation of KWM resulted from the combination of several predecessor firms, including the UK's "Silver Circle" member SJ Berwin, Australia's prominent "Big Six" firm Mallesons Stephen Jaques, and China's distinguished "Red Circle" firm King & Wood.
Mallesons Stephen Jaques
Established in 1832, Mallesons Stephen Jaques was recognized as one of Australia's leading "Big Six" legal practices.
The 'Mallesons' portion of the name honors Alfred Brooks Malleson, a London-trained solicitor who relocated to Melbourne in 1856. His specialization in corporate and banking law attracted numerous banks and insurance companies to entrust their legal matters to his firm. Notably, in 1858, the firm—then known as "Muttlebury Malleson and Coster"—handled legal affairs for the establishment of The National Bank of Australasia, which is currently a significant client under the name National Australia Bank.
The 'Stephen' element traces back to Montague Stephen, founder of the Sydney practice and son of Chief Justice Sir Alfred Stephen. Montague commenced his legal career in 1849, with early clients including the "Australian Mutual Provident Society" (AMP Limited), which remains an important client today. The 'Jaques' name originates from Alfred Jaques, who joined as partner in 1878. Until the 1980s, the firm was known as Stephen Jaques & Stephen.
In 1976, Stephen Jaques & Stephen expanded internationally by opening an office in London. A merger in 1982 with Stone James—a Perth-based firm founded in 1832—led to the creation of Stephen Jaques Stone James, reflecting Western Australia's rising economic significance.
The 1987 union with Mallesons resulted in Mallesons Stephen Jaques, combining Sydney and Melbourne operations while extending reach to Perth and Canberra. Subsequent office launches included Brisbane (1989), Hong Kong (1989), and Beijing (1993). The firm formed an alliance with Posman Kua Aisi Lawyers in Papua New Guinea (1995). In 2004, it enhanced its Beijing presence by integrating lawyers from Denton Wilde Sapte and merged with Kwok & Yih, a boutique firm based in Hong Kong and Shanghai.
King & Wood PRC Lawyers
King & Wood was among the pioneering modern private law firms established within the People's Republic of China. Its founders, formerly associated with the state-backed China Council for the Promotion of International Trade, launched the firm in April 1993 following government authorization permitting private legal practices.
The firm represented major clients such as Citigroup, China Life, Walmart, PetroChina, Bank of China, and played a key role for the Beijing Organizing Committee for the Olympic Games during the 2008 Summer Olympics. Prior to merging with Mallesons Stephen Jaques, King & Wood maintained an affiliation with Australian firm Gilbert + Tobin.
SJ Berwin
Founded by attorney Stanley J. Berwin in 1982, SJ Berwin pursued a strategy focused on European growth beginning in 1992. By 2009, it had established offices in Hong Kong, Dubai, and Shanghai to bolster its footprint within critical global markets.
Merger
King & Wood Mallesons came into existence on 1 March 2012 as a result of combining the Chinese firm King & Wood PRC Lawyers with the Australian firm Mallesons Stephen Jaques, following shareholder approvals in November 2011.
In 2013, the firm declared a merger with UK Silver Circle firm SJ Berwin, forming the first global law entity headquartered in Asia.
The organization functioned under a Swiss Verein framework, comprising four financially autonomous partnerships: Australia; Europe and the Middle East; Hong Kong; and Mainland China, Japan, and the United States.
Demise of KWM Europe
By 2016, substantial partner departures within KWM Europe triggered unsuccessful merger negotiations and led to external administration. A rescue plan that required partners to inject capital and agree to a 12-month lock-in period, backed by funding from the Chinese division, was declined. As a result, KWM declared the dissolution of its European partnership by November 2016. Prominent firms including Goodwin Procter and Covington & Burling entered discussions to onboard key partners from KWM Europe. Operations of KWM Europe were terminated under administration by January 2017, while the Australian, Chinese, and Hong Kong branches remained unaffected due to their financial and legal independence.
Following insolvency proceedings, KWM’s Asia-Pacific division launched a new enterprise aimed at preserving strategic operations in the UK, Europe, and Middle East by establishing offices in London, Frankfurt, Madrid, Milan, Brussels, and Dubai. This revitalized European platform concentrated on Corporate M&A, Finance, Competition, and Dispute Resolution practices with over 30 partners supported by associates and staff.
In 2023, KWM China revealed plans to wind down its activities across the UK, Europe, and Middle East by 31 October 2024 after entering into a cooperation agreement with Eversheds Sutherland (International).
Finances
During the 2012–13 fiscal year, the firm recorded global revenue of US$1 billion. Revenue per lawyer was US$453,000 in China; profit per equity partner reached AU$1.08 million in Australia; and £610,000 in Europe.
Pro bono
King & Wood Mallesons maintains a community impact practice dedicated to supporting pro bono legal services, social programs, and charitable activities.
In 2021, over 91% of its Australian lawyers participated in pro bono efforts, contributing upwards of 54,000 hours.
The firm has a longstanding partnership with Youth Law Australia, delivering free legal assistance to young people nationwide. This collaboration is supported through secondment of a full-time solicitor and staff involvement in the Cyber Volunteer Program. Additional pro bono projects include legal clinics for homeless individuals and refugees as well as backing for the Arts Law Centre. The TalkLaw initiative educates disadvantaged high school students about legal matters, while the KWM School of Opportunity provides work placements and skill-building opportunities for underprivileged youth.
Australia
- Provided counsel on the merger between Glencore and Xstrata.
- Advised Square Inc (now Block Inc) on its A$39 billion acquisition of Afterpay Ltd, marking the largest M&A transaction in Australian history.
- Assisted Lygon in pioneering the creation of the world’s first digital bank guarantee utilizing blockchain technology.
- Counseled Woolworths on its A$400 million green loan issuance, making it the first supermarket globally to issue certified green bonds.
- Supported Sydney Airport in obtaining an A$1.4 billion sustainability-linked loan—the first syndicated sustainability-linked loan in Australia and the largest within Asia-Pacific.
China
- Provided counsel for the initial public offering of PetroChina.
- Acted as the exclusive legal advisor to the Beijing Organising Committee for the Games of the XXIX Olympiad.
- Represented Microsoft during an antitrust inquiry conducted by the State Administration for Industry and Commerce.
- Guided Baidu through its HK$24 billion secondary listing on the Hong Kong Stock Exchange.
United Kingdom
- Counseled Lion Capital LLP on several transactions, including acquiring the fashion retailer AllSaints from Icelandic banks Kaupthing and Glitnir, as well as the £1.4 billion acquisition of French frozen food company Picard Surgelés.
Awards and recognition
Significant accolades include:
- Law Firm of the Year, Australasian Law Awards (2022, 2023)
- Australian Law Firm of the Year, Chambers Asia-Pacific Awards (2020, 2024)
- Chinese Law Firm of the Year, Chambers Asia-Pacific Awards (2020)
- Regional Law Firm of the Year, IFLR Asia Awards (2020, 2021, 2023)
- Achieved Band 1 rankings in Chambers Asia-Pacific across a record 21 practice areas
- Recognised as the Largest International Law Firm in Hong Kong by ALB Asia Top 50 Rankings (2021)
- Recipient of the Golden League Award at the China Business Law Awards by Law.asia (2024)
Criticism
In 2018, WorkSafe Victoria launched an investigation into King & Wood Mallesons after concerns were raised about excessive workloads imposed on staff due to pressures from the Banking Royal Commission. The firm's responses to this inquiry were covered by the Australian Financial Review.
In 2024, amidst United States sanctions against China, King & Wood Mallesons cautioned its Chinese clientele against issuing public comments that could provoke suspicion or lead to scrutiny by US regulatory authorities.
Notable alumni
Distinguished former professionals associated with King & Wood Mallesons include:
- Jayne Jagot – Justice of the High Court of Australia
- Simon Steward – Justice of the High Court of Australia
- Geoffrey Nettle – former High Court of Australia Justice
- Emilios Kyrou – President of the Administrative Appeals Tribunal; Federal Court judge
- Nye Perram – Federal Court judge
- Lisa Hespe – Federal Court judge
- Lucy McCallum – Chief Justice of the Australian Capital Territory
- Julie Ward – President of the NSW Court of Appeal
- Mark Leeming – Judge at NSW Supreme Court
- Anna Mitchelmore – Judge at NSW Supreme Court
- Ashley Black – Judge at NSW Supreme Court
- Kelly Rees – Judge at NSW Supreme Court
- Reginald Barrett – Judge at NSW Supreme Court
- Richard Weeks White – Judge at NSW Supreme Court
- Trish Henry – Judge at NSW Supreme Court
- Ian Pike – Judge at NSW Supreme Court
- Anthony McGrath – Judge at NSW Supreme Court
- David Davies – Judge at NSW Supreme Court
- Robertson Wright – Judge at NSW Supreme Court
- Tim Faulkner – Judge at NSW Supreme Court
- Patricia Bergin – former Chief Judge in Equity, NSW Supreme Court
- Frances Williams – Queensland Supreme Court judge
- Patricia Matthews – Victorian Supreme Court judge
- Joanne Cameron – former Victorian Supreme Court judge
- Michael Lundberg – Western Australia Supreme Court judge
- Larissa Strk – Western Australia Supreme Court judge
- Michael Corboy – Western Australia Supreme Court judge
See also
Further reading
- (King & Wood article)