Camford Law Corporation, a law firm based in Singapore, has agreed to join forces with PwC. Going forward Camford Law will act as an independent firm within PwC’s global Legal network, which currently consists of more than 2,400 legal experts across offices in 80 countries.
Over the past years, large accounting- and consulting firms, such as for instance the Big Four, BDO or Grant Thornton, have followed a strategy aimed at increasing their footprint in the legal landscape. Against the backdrop of intensifying competition and dropping margins in their traditional markets (accounting, audit, tax), the legal space is an area where they still have room for growth and can – if successful – reap the benefits of higher margins. In addition, clients are increasingly demanding integrated service offerings, and in particular in the Mergers & Acquisition and Human Resource segments of the consulting industry, the bundling of financial advisory with legal expertise has proven an important differentiator.
For PwC, the addition of Camford Law Corporation (Camford Law), a Singapore-based legal services firm, is an extension of the global expansion strategy for its Legal business unit. “Business and legal issues today are more intertwined than ever before. Multinational corporations operating in Singapore and the region see the logic of working with a global professional services leader,” says Yeoh Oon Jin, Executive Chairman of PwC Singapore.
As a separate independent firm within PwC’s global network, Camford will provide legal advice and services to companies and organisations in an increasingly complex business environment. These services include corporate and commercial restructurings, entity governance and compliance, and mergers and acquisitions. “In response to the ever-changing global business environment, being part of PwC’s global network will provide Singapore qualified lawyers with greater reach while continuing to allow for autonomy. We hope that with our approach, we will be able to give our clients legal advice that is aligned with their overall business strategy,” adds Bijay Nawal, Director of Camford Law.