Speaking to Lawyers Weekly, Milliner said Allen & Overy's arrival will benefit those in the hunt for legal services and broaden overall competition for services.

"More competition offers clients greater choice, so we welcome Allen & Overy to the Australian market," he said.

Milliner is not concerned that the arrival of the UK giant will diminish Malleson's strong position, particularly in the regional market, and is confident that they have the goods to compete with any newcomers.

"We will remain strong competition for any firm in this market, given our full-service capability, breadth of expertise and depth of top-tier legal talent. We have a strong track record of cross-border transactional experience and we believe the two decades that we have invested in building our practice in Asia will stand us in good stead," he said.