Australia’s well-regulated banking environment and booming resources and infrastructure sectors provide strong offerings for NZ lawyers close to home. The addition to the Sydney and Perth markets of Allen & Overy in 2010 and Clifford Chance in 2011 added Magic Circle options for talented practitioners. The trend towards international powerhouse firms has continued with top tier Australian firms cementing international ties very recently. Blake Dawson has merged with Ashurst LLP and is set to rename as Ashurst in March 2012, while Mallesons’ joint venture with China’s leading firm, King & Wood, was also recently confirmed. Credible international opportunities offering high level, cross-border transactional exposure are now available by just “crossing the ditch”.
What are we seeing?
M&A MINI BOOM
Fuelled by venture capital entering the market in the tech and energy sectors, M&A, private equity and ECM transactions are on the increase. Activity abounds from local and international private equity houses and venture capitalists. Senior Associate and mid-level roles predominate as quality transactional experience is sought. Remuneration prospects are strong with M&A roles carrying AUD$120 – AUD$150K packages for mid-level lawyers and AUD$170 to AUD$200K plus at 2-4 year Senior Associate level in Sydney.
FINANCE & PROJECTS STRONG
Finance roles also abound in Perth, Sydney, Brisbane and Melbourne. Project finance is prominent with roles for experienced lawyers at all levels. Resources and infrastructure related PPP’s create opportunities in transport, energy, telecommunications, waste management, health, retirement and renewable energy sectors. Strong offerings also exist in securitisation, DCM and derivatives for creative, product-oriented finance lawyers. Leveraged, asset and property financing roles show boutique and mid-market options running head-to-head for quality with the tier one international offerings.
ENERGY & RESOURCES ACTIVE
Exciting project opportunities are available in Brisbane with coal, LNG and water featuring highly over the past year. Mining is again booming in Perth, and Chinese and US investment is creating new mines, ports and infrastructure projects to facilitate increasing production and demand. Lawyers with finance, corporate transactional experience or infrastructure project skills are highly sought after and rewarded with above market salaries.
If you are considering an overseas move and would like more information about Australian options, please contact one of our experienced consultants on +61 2 9266 2906 for confidential inquiries.
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