New Zealand’s legal market enjoyed improved corporate workflows in 2014, and according to Kiwi practitioners that’s good news for Australian firms.
“If you look at the market as a whole, you would call it steady to more buoyant, and that’s a reflection of business confidence being particularly high, and that’s been most evident in the corporate work that’s come through,” said Chapman Tripp managing partner Andrew Poole in a recent interview with Australasian Lawyer magazine.
“You know that when corporate starts to get more buoyant, the economy is genuinely starting to recover” he added, citing good activity across equity capital markets, IPO and M&A work.
Increased corporate activity for New Zealand’s lawyers likely heralds a boost in corporate work for Australian firms in 2015. “It is traditionally the case that the New Zealand market leads the Australian legal market by six to nine months, sometimes 12 months,” Poole predicted. “Australian managing partners are always pleased to hear when the New Zealand market is starting to do well after a flat patch, because, like night follows day, the Australian market will pick up as well.”