A&O funds Indian professorship The National Law School of India University, Bangalore In a move hoped to build its presence in India, Allen & Overy announced today the sponsorship of a local law professor. Like many of its UK competitors, A&O is keen to get a foothold in the region but is unable to set up a physical office because of local bar rules that prevent it. The firm is investing in the development of the Indian legal market by providing an endowment for the appointment of a professor of International Financial Law at the National Law School of India University, Bangalore. The professor will be known as the Allen & Overy professor of international financial law. Most big UK firms have an Indian group, normally with an Indian national at its helm (Sandeep Katwala at Linklaters, Nipun Gupta at White & Case, Nimi Patel at Herbert Smith). Linklaters also operates a referral firm, Thawar Thakore & Associates, that seconds lawyers to Linklaters. The Allen & Overy announcement was made during a visit to the National Law School by Department of Constitutional Affairs minister Cathy Ashton, who is in India on a ministerial visit. Alex Pease, chairman of Allen & Overy's India Group, commented: "We appreciate the complex challenges that lie ahead for India's legal infrastructure in terms of meeting the demands of a rapidly growing economy. This endowment is a first step towards establishing a collaborative approach within India to address some of these challenges. Students will now have the option of learning about international financial law." As part of the 10-year endowment A&O will also provide occasional guest speakers to visit the University, including professor Philip Wood, Allen & Overy special global counsel. Professor Wood is the visiting professor at the University of Oxford, Queen Mary College and the London School of Economics & Political Science and Yorke Distinguished Fellow at Cambridge University. The Allen & Overy professor of international financial law will also conduct research into issues of Indian law of interest to the international financial community to help build greater understanding of the unique features of the Indian market.
June 30 2007