The lateral hire market has been particularly active in Asia this week, with some of the most established international players in the region losing experienced partners.
The most notable move came in Japan, where US firm Bingham McCutchen has added seven White & Case lawyers to its investment funds team in Tokyo. Continue reading “Asia round-up: Bingham makes funds push in Tokyo while Eversheds launches in Beijing”
When a top US disputes firm with only six offices outside its home territory has launched two of those in under half a year, it’s probably one to watch.
Expansive Quinn Emanuel Urquhart & Sullivan is continuing to widen its international footprint with a launch in Sydney via the hires of two Herbert Smith Freehills (HSF) rated litigators.
Continue reading “Quinn Emanuel goes down under with HSF team”
As Europe shows little sign of clawing its way out of the economic doldrums high growth markets continue to dominate the agenda with the announcement that firms including Linklaters, Baker & McKenzie, Simmons & Simmons and Clyde & Co are to launch new offices in the Asia Pacific region.
Over the past week Simmons announced that it is opening its fifth Asian office in Singapore, while Clyde & Co totted up its eighth presence in the region by securing a licence in Beijing. Both Linklaters and Baker & McKenzie won approval to launch in Seoul, with the latter’s claim to ‘unrivalled breadth’ in the Asia Pacific region borne out by its now 15 offices. Continue reading “Asia round-up: Simmons, Linklaters and Clyde launch new outposts”
Despite concerns over a cooling eastern economy, UK advisers continue to invest in Asia with DLA Piper and Stephenson Harwood this week making major plays in the region.
DLA Piper has entered into a strategic alliance with Indonesian law firm Almaida Baely & Firmansyah (IAB&F), ramping up its already huge global footprint. Like most international advisers, DLA had previously largely serviced Indonesian work from its Singapore arm.
Herbert Smith Freehills (HSF) opened in Seoul last month, becoming the third UK firm to open in Korea, after Clifford Chance and DLA Piper.
The office will be co-headed by London disputes partner Tony Dymond and Singapore corporate partner Lewis McDonald, both of whom are relocating to the region.
The Seoul office will primarily focus on outbound work. It opens with two partners, three associates and a paralegal.
Continue reading “HSF becomes third UK firm to open its doors in Seoul”
With the recent influx of foreign firms into Seoul showing no signs of stopping, questions are being raised as to whether the market has reached saturation point and which firms will win the race for Korea’s most prestigious clients.
Paul Hastings and Covington & Burling became the most recent firms to open new offices in South Korea, both at the beginning of November. Since ratification of foreign trade agreements (FTAs) between Korea and the EU in July 2011 and the US in February 2012, 17 firms from the LB Global 100 have either opened an office, applied for a licence or have expressed an interest in opening in Seoul.
Continue reading “Korea legal market shows signs of saturation”
Last month, Cleary Gottlieb Steen & Hamilton did something that it has only done once before – open two non-US offices in the same year. Seoul became the firm’s sixteenth office, launching just a month after Cleary opened its fifteenth office in Abu Dhabi. The only time the firm has previously opened two offices in a year was 1991 when it launched in Frankfurt and Moscow.
Continue reading “Lateral thinking required with international expansion”
Singapore has emerged as the location of choice to serve the legal markets in China and India and is attracting waves of international firms. LB looks at the reasons why the jurisdiction is king of the so-called Chindia market
With the European Union in its spiralling debt mess and the US hugely overdrawn, global businesses are concentrating their efforts on Asia and, naturally, law firms are following. But whereas Hong Kong was traditionally the default outpost for international law firms, Singapore has emerged as the destination of choice for many newcomers. There are two main reasons for this. Firstly, the city state is ideally positioned to serve both India and China, two major economic powerhouses that form the so-called ‘Chindia’ market. Secondly, the shackles that restricted foreign firms operating in Singapore have been loosened.
Ashurst is preparing to move into Seoul and is applying for a licence to practise in Beijing, as the firm looks to leverage off its recent tie-up with Australian firm Blake Dawson to bulk up in Asia.
Geoffrey Green, managing partner of Ashurst Asia, said it was vital to grow the firm’s Asian presence. ‘Ashurst has been relatively lightly represented in Asia. Compared to our competitors we are pretty underweight in Asia and given the fact the world is moving further east, that’s where the growth opportunities are,’ he said.
Continue reading “Ashurst pushes ahead with Beijing and Seoul launches”
Salans has been left with no partners in China after Shanghai office managing partner Bernd-Uwe Stucken and corporate partner Wei Liu left to join Pinsent Masons in June.
Continue reading “Emerging market specialist Salans dealt a blow by Asia exits”
