"Think Local, Act Global"

Legal Business (Australia) - June 22, 2009

Sullivan & Cromwell LLP Partner John Estes and Special Counsel Waldo Jones were quoted in a Legal Business (Australia) article titled, "Think Local, Act Global." The article discussed the presence of international law firms in Australia and the factors that firms must consider when opening an office in Australia. Law firms must decide whether or not to practice Australian law, and Mr. Estes said that at S&C, "We purposely want to limit our practice to that [U.S. law] market, and work in conjunction with Australian firms." Mr. Jones then described the Australian market, "The market is only so large in Australia...It's not like Asia and Europe, which are viewed as offering potentially large future growth opportunities for international firms. Australia is a relatively stable economy, and is likely to grow at slower but steadier rates over time. This is a reflection on how we view our firm's prospects for growth in the Australian market."