The most notable headlines to emerge from Asia this week include Herbert Smith Freehills (HSF) deciding not to renew its coveted qualifying foreign law practice (QFLP) licence in Singapore, while EY has announced plans to expand throughout the region.
Meanwhile, Clifford Chance‘s private equity practice has demonstrated its ties to key client Carlyle, despite high-profile exits in London, with a sizeable deal in South Korea.
Moore becomes first lateral hire in firm’s 125-year history
It had been well telegraphed but even so news that Slaughter and May was making the first lateral hire in its 125-year history to add US securities capability to its Hong Kong arm was enough to send a minor jolt through the global legal profession.
Slaughters unsurprisingly chose a top-notch CV to break with tradition, hiring Morrison & Foerster’s co-head of China capital markets John Moore. Moore, who joined the UK firm in February as its 12th Hong Kong partner, is the former head of the US capital markets team for Herbert Smith and has also previously held senior roles at Sullivan & Cromwell and Goldman Sachs.
Continue reading “Slaughters adds US capability in Hong Kong as best friends become rivals”
As international law firms continue their strategic push into south east Asia, Baker & McKenzie has become the latest global player to launch an office in Myanmar.
Bakers today (18 February) confirmed the launch of a branch in the city of Yangon to be led by infrastructure and corporate partner Chris Hughes, who is currently based in Sydney. The decision was made at the firm’s Asia Pacific partners meeting held in Tokyo this year, handing Bakers its 16th office in the wider Asia region.
Continue reading “South eastern promise: Baker & McKenzie unveils launch in touted Myanmar market”
Despite the bearish mood that last year gripped many international law firms regarding Asia, and sustained tremors this year running through emerging market securities, a host of major advisers have kicked off 2014 with significant investments in the region, including DLA Piper, Hogan Lovells and Stephenson Harwood.
DLA Piper has hired O’Melveny & Myers partner Mark Fairbairn to head its restructuring group in Asia. Fairbairn was based in O’Melveny’s Hong Kong arm, having joined in 2008 following a five-year tenure at White & Case. Continue reading “Asia round-up: DLA Piper, Hogan Lovells and Stephenson Harwood move to bolster regional networks”
With five of its nine overseas offices in South and East Asia, it is perhaps unsurprising that Stephenson Harwood has become the latest UK firm to make plans to open in the burgeoning Seoul market, with the hire of DLA Piper’s local office head and litigation partner Michael Kim.
Kim brings with him a developed reputation in South Korea and experience in shipping, ship finance, shipbuilding and offshore and general commercial litigation and arbitration matters.
However, the top 35 UK firm today (7 February) announced that it has yet to apply for a license to set up in Seoul and Kim will be based in London initially, in the anticipation of relocating to its latest Asian outpost when permission is granted. Continue reading “Seoul searching: Stephenson Harwood hires DLA Piper’s South Korea head Michael Kim”
Magic Circle firm Slaughter and May has taken the unprecedented step of making a lateral hire, recruiting US securities partner John Moore from US firm Morrison & Foerster into its Hong Kong office.
Moore has been brought in to provide US securities law coverage to the Hong Kong practice and comes after much speculation that the firm was looking to add US capability to the region. Previously, the firm had partnered with a number of US outfits to provide US counsel and this move brings the firm into line with the rest of its Magic Circle rivals, who already have US-qualified lawyers in Hong Kong. Continue reading “Asia Pacific: Slaughters makes first foray into lateral market to launch US securities practice in Hong Kong”
Baker & McKenzie and Reed Smith will further extend their global footprints, with Bakers looking at another low-cost offshore base after its success in Manila while Reed Smith has today (21 January) announced a new launch in Kazakhstan with the hire of one partner each from Morgan Lewis and White & Case.
Bakers, which launched its captive offshore support centre in Manila in at the turn of the millennium, is ‘exploring options for replicating the model in other jurisdictions’ but at this time has no set timetable.
With only Asia showing any real growth in M&A work for law firms during 2013, it is unsurprising that major international players are focusing their expansion plans in the region. Clifford Chance today (10 January) announced a formal association with Indonesian firm Linda Widyati & Partners (LWP), while K&L Gates has bulked up its Tokyo office with the addition of real estate and disputes partners. Earlier in the week, Duane Morris announced a new office in Shanghai.
LWP is a boutique firm, established by Linda Widyati and Dezi Kirana who have over 20 years’ experience in the core areas of focus for Clifford Chance: corporate/M&A, banking and finance and capital markets.
Clyde & Co has further expanded its China operations with the hire of Eversheds’ Asia head of employment Iris Duchetsmann to lead its Shanghai office.
Duchetsmann will focus on expanding the firm’s regional employment law capabilities, its overall China offering and comes with a particular focus on cross-border issues and international human resources management.
Also joining Clyde’s Shanghai office are three employment associates from Eversheds – Lisa Li, Cynthia Zheng and Vivien Xu – bringing the lawyer headcount up to 23 and five partners in total.
Pinsent Masons has continued to develop its Global 100 credentials, this time bulking up its Asia-Pacific corporate capability with the hire of a three-partner team in Singapore from leading local firm KhattarWong and a further senior appointment in Shanghai from SJ Berwin (now part of King & Wood Mallesons). These latest appointments add to a number of key hires made by Pinsents in the region over the course of last year.
In Singapore, partners Perry Yuen, Kelvyn Oo and Bethia Su will join the firm from KhattarWong’s general corporate and commercial advisory practice in early 2014 along with up to five associates.
