While many firms have made redundancies in the recent past/present, some of those same US firms are currently planning on growing their Asia practices. Proskauer Rose LLP has just launched an office in Hong Kong and is already in the midst of making plans to birth another one. Slaughter and May is also waiting on the necessary approval to open its own office in China. China has seen a 19 percent increase of foreign firms since 2006, bringing the total to 177 firms today. Hong Kong has doubled its foreign firms (now 66) since 2004. It may seem silly in the face of a global economic downfall, but law firms are merely following suit in the global expansion of clients. This growth may be due to the following facts: China has the third largest ecomony and the world’s largest foreign currency reserves.
It is official; the first firm in the Middle East has cut jobs. That honor goes to Trowers & Hamlins. Trowers has spent the last four decades in the region, without ever having to say the word redundancy. Until now. The firm has let go 5 attorneys in Dubai, and has made an attorney in each Muscat and Riyadh redundant. This may be just the beginning of a legal decline, in the once booming middle east. Growth in the region has recently been substantial, as the following firms have launched offices there: Dewey & LeBoeuf, Clifford Chance, Latham & Watkins, King & Spalding, Hogan & Hartson, Berwin Leighton Paisner, Allen & Overy, Curtis Mallet-Prevost, and Shearman & Sterling.
Evan here. Today’s post covers (in a very basic way) a) the current poor state of the short-term lateral hiring market in Asia and the Middle East; and b) the strong possibility remains that qualified US associate candidates, who are focused on settling down in Asia, can still land there at top firms in the [...]
Giles White, managing partner at Linklaters’ Asia office, is opting out of the firm and opting into an in-house position at Jardine Matheson. White has had a lengthy career with Linklaters for 21 years, 18 of which were spent as a partner. White plans to leave the firm at the end of April.
White & Case and Hong Kong dispute resolution boutique Laracy Gall have joined together in preparation for the emanate wave of corporate bankruptcies. In the face of such an economic decline, banks have limited their lending to what companies may be able to pay back. In the Asia-Specific region, excluding Japan, new loans amount to $4 billion, much less than last year’s $32 billion around the same time. Laracy Gall has 12 litigators, all of whom will work with White & Case’s banking, capital markets and private equity practice groups.
Eversheds has hired five new partners in Hong Kong, all previously with DLA Piper. The newbies include: King Tak Fung and Michael Yau (banking), Ivan Ng, Ronald Sum and William Leung (litigation). Also joining the firm as partner is Stephen Mok (corporate), previously of Fried Frank.
Evan here, writing from Miami, packing up for another Asia trip this weekend. Kung Hei Fat Choi! Happy Chinese New Year!! Most firms in HK / China close their doors completely all this week for the holidays. Here are a few pressing needs that we are working on in Asia and Middle East (there are [...]
Lovells has added attorney Anthony Raven as a partner in Tokyo. Raven joins the energy and projects group. Raven, previously with Herbert Smith, has had much experience in representing Japanese, as well as international clients. This makes Lovells fourth lateral in the last 12 months.
Attorney Christopher Muessel has taken a position with firm Watson, Farley & Williams. Muessell will join the Singapore office from Duane Morris. He focuses his practice on project financing. Muessell brings the number of Watson, Farley’s Singapore partners up to seven.
Alexey Kondratchik has rejoined Akin Gump Strauss Hauer & Feld LLP as a partner in the firm’s Moscow office. Kondratchik focuses on corporate law, joint ventures, corporate restructurings and financing, and mergers and acquisitions.
Shibeer Ahmed, Lovells’ Dubai head, is jumping ship, but to where is still a mystery. Ahmed has spent nine years with Lovells. He has not announced where he is moving, but says that it will be another firm in Dubai. He will not be accompanied by any associates from Lovells.
Proskauer Rose has taken up a new office in Hong Kong’s central business district. Coroprate partner, Yuval Tal, has moved to Hong Kong from New York, to open and lead the office. The new address goes as follows:
36/F, Edinburgh Tower
15 Queen’s Road Central