Over the past month the Hong Kong and Singapore lateral markets were very active, recording 10 partner hires and five partner hires respectively. Most of these lateral partners joined major international law firms in the two cities, including HSF, Jones Day, DLA, Hogan Lovells, Withers, CMS and Charles Russell.
Meanwhile the Chinese mainland market witnessed two new office launches, with Pinsent Masons and Appleby entering Shenzhen, and two office closures, with Cleary and Wilson Sonsini shutting down in Beijing. This illustrates the sharply divided views currently being taken by different international law firms on China.
Click below for our full update on the Asia legal market for February:
At the beginning of the year, the Singapore and Hong Kong lateral markets were very active, with each jurisdiction recording 15 and 10 partner moves respectively, and each welcoming one major Western newcomer, namely Trinity (Singapore) and Broadfield (HK). One interesting trend among these lateral moves is that only one third of hires were made by international firms, with most partners that moved joining either prominent local firms, boutiques or even new start-ups in Hong Kong and Singapore.
Due to the Chinese New Year holiday, the Chinese mainland market was quiet last month – except for a few partner defections from major US law firms in Beijing and Shanghai. In the meantime, the US law firms’ retreat from the market is continuing, with Fenwick & West closing in Shanghai and Morgan Lewis shutting down in Shenzhen.
Read our full market update for further insights into the region’s evolving legal landscape:
With year-end celebrations and a slowdown in business activity, Asia’s lateral hiring market was much quieter in December than in previous months, and the major legal hubs – Hong Kong, Singapore, Beijing, Shanghai, Sydney, Seoul and Tokyo – only saw between one and four partner moves each. A notable trend among these limited partner moves was that partners are moving either from international law firms to regional or local firms, or from large practices to much smaller boutique or even start-up firms.
Chinese law firms continue to expand in their home country, with new domestic offices being launched in secondary Chinese cities. In addition, HKIAC’s Beijing launch contrasted with the news that top US law firm, Milbank, will be closing operations in the capital city.
Read our full market update below for further insights into the region’s legal landscape:
