Stephenson Harwood has axed its alliance with Myanmar firm U Tin Yu & Associates ahead of launching an office in the region, The Lawyer understands.
CEO Sharon White said the firm had “decided that it’s the right time to establish a presence in the country” but added the alliance had ended “by mutual consent”.
The firm is no longer operating in association with U Tin Yu & Associates’ office in Myanmar’s former capital Yangon.
Stephenson Harwood was the first UK firm to enter the Myanmar market in 2013.
Its next steps in the region are as yet unknown. However, it is expected to launch an office in the country before the end of the year.
White said in a statement to The Lawyer: “Stephenson Harwood has been advising clients in Myanmar, and international clients investing there, for many years.
“The country is an increasingly attractive target for investment and we will continue providing our clients with the high quality legal advice they expect.
“To improve the quality and service we provide clients, the firm has decided that it’s the right time to establish a presence in the country.”
Stephenson Harwood has used its association in Myanmar as a base to expand its presence across Asia over the last three years, next establishing an exclusive association with Singapore firm Virtus Law.
It also secured a licence to open in Seoul in 2014, before formalising its relationship with its existing Guangzhou-based alliance Wei Tu.
Stephenson Harwood later entered into an alliance with Chinese firm Wei Tu in December 2014 following the closure of its Guangzhou office.
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